Strength Seen in eXp World Holdings (EXPI): Can Its 20.7% Jump Turn into More Strength?
eXp World Holdings EXPI shares ended the last trading session 20.7% higher at $20.14. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 24.7% gain over the past four weeks.
EXPI’s inclusion in the S&P SmallCap 600 index, effective Jun 14, 2023, prior to the opening bell, is likely to have led to increased investors’ optimism, driving the stock up. The company will replace Heska Corp. HSKA, which is expected to be acquired by Mars Inc. soon.
Also, this real estate operations company recently launched an AI support chatbot named Luna, powered by ChatGPT and GPT-4 and is available 24/7 to all eXp Realty agents to interact with the company. The move is part of EXPI’s focus on innovation and technology to enhance agent support and increase productivity.
This company is expected to post quarterly earnings of $0.08 per share in its upcoming report, which represents a year-over-year change of +33.3%. Revenues are expected to be $1.2 billion, down 15.4% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For eXp World Holdings, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on EXPI going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
eXp World Holdings is a member of the Zacks Real Estate - Operations industry. One other stock in the same industry, TPG RE Finance Trust TRTX, finished the last trading session 0.1% higher at $7.33. TRTX has returned 36.6% over the past month.
For TPG RE Finance Trust , the consensus EPS estimate for the upcoming report has changed -23.5% over the past month to $0.17. This represents a change of -37% from what the company reported a year ago. TPG RE Finance Trust currently has a Zacks Rank of #4 (Sell).
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