Compass (NYSE:COMP) Shares Gap Up on Earnings Beat

Compass, Inc. (NYSE:COMP - Get Free Report) shares gapped up before the market opened on Wednesday after the company announced better than expected quarterly earnings. The stock had previously closed at $7.98, but opened at $8.53. Compass shares last traded at $8.88, with a volume of 3,349,878 shares trading hands.

The company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.10) by $0.02. The business had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.38 billion. Compass had a negative net margin of 2.74% and a negative return on equity of 39.72%. During the same period in the previous year, the firm earned ($0.09) EPS.

Analyst Ratings Changes

Several equities research analysts recently weighed in on COMP shares. Oppenheimer upped their target price on shares of Compass from $12.00 to $13.00 and gave the stock an "outperform" rating in a research note on Wednesday. Needham & Company LLC upped their target price on shares of Compass from $10.00 to $12.00 and gave the stock a "buy" rating in a research note on Wednesday. Barclays upped their target price on shares of Compass from $6.00 to $7.00 and gave the stock an "equal weight" rating in a research note on Wednesday, December 11th. UBS Group upped their target price on shares of Compass from $11.00 to $12.00 and gave the stock a "buy" rating in a research note on Wednesday. Finally, The Goldman Sachs Group upped their target price on shares of Compass from $8.00 to $9.00 and gave the stock a "buy" rating in a research note on Wednesday. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Compass presently has an average rating of "Moderate Buy" and a consensus target price of $8.69.

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Insiders Place Their Bets

In other news, CEO Robert L. Reffkin sold 49,316 shares of the company's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $5.91, for a total value of $291,457.56. Following the completion of the transaction, the chief executive officer now owns 2,950,684 shares in the company, valued at approximately $17,438,542.44. This represents a 1.64 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Robert L. Reffkin sold 2,000,000 shares of the company's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $9.46, for a total transaction of $18,920,000.00. The disclosure for this sale can be found here. Insiders sold 14,926,971 shares of company stock worth $103,472,099 in the last 90 days. Corporate insiders own 6.25% of the company's stock.

Compass Trading Down 7.9 %

The firm's fifty day moving average price is $6.80 and its 200-day moving average price is $6.27. The firm has a market cap of $4.60 billion, a price-to-earnings ratio of -29.05 and a beta of 2.95.

Compass Company Profile

Compass, Inc provides real estate brokerage services in the United States. It operates a cloud-based platform that provides an integrated suite of software for customer relationship management, marketing, client service, operations, and other functionality in the real estate industry. The company offers mobile apps that allow agents to manage their business anytime and anywhere, as well as designs consumer-grade user interfaces, automated and simplified workflows for agent-client interactions, and insight-rich dashboards and reports.