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EXPI Stock Rides Housing Boom To Edge Of Breakout As Pandemic Boosts Real Estate Brokerage| Investor’s Business Daily

EXPI Stock Rides Housing Boom To Edge Of Breakout As Pandemic Boosts Real Estate Brokerage| Investor’s Business Daily

Exp World Holdings

$3.30



4.65%



46%
IBD Stock Analysis

A cup-shaped pattern with no handle. Must be at least six weeks long or as long as a year. Buy point is 10 cents above the left-side high.

* Not real-time data. All data shown was captured at
12:34PM EST on
12/10/2020.

EXP World Holdings (EXPI), a cloud-based real estate brokerage, is the IBD Stock of the Day as the housing boom lifts EXPI stock toward a buy point.

The Bellingham, Wash.-based company is the parent of EXP Realty — the brokerage side of the business and main sales driver — and Virbela. Virbela is a cloud-based platform that helps workers, attendees and students collaborate.

EXP has more than 39,000 agents around the world on its platform, and has expanded internationally. Most of the real estate workers who use its platform are independent contractors.

Agents and brokers use the platform to help people buy and sell homes. The company argues that its technology gives agents and brokers flexibility to start their own business and work on their own schedules.

EXPI Stock

Shares are near all-time highs, closing up 5.65% at 61.72 in the stock market today. EXPI stock is in a cup base with a 62.60 buy point.

Shares have a strong 96 Composite Rating and an EPS Rating of 75.

The relative strength line of EXPI stock has risen since last month. That line, which measures a stock’s performance against the S&P 500, is close to the highs it reached in October.

The company went public in 2018. It began turning a profit in the fourth quarter of last year. Earnings per share have grown since then.

EXP serves as a licensed broker for processing real estate transactions. It earns a commission on those transactions, and pays part of that to real estate agents and brokers.

Revenue roughly doubled to $564 million during the third quarter. EXP World earned 20 cents per share, up from a loss a year ago.

“Despite the unprecedented in-person business restrictions related to Covid-19, our agents were able to continue leveraging our virtual platform to conduct business as usual and close a record number of transactions this quarter,” CEO Glenn Sanford said in the company’s earnings release.

Sanford, during EXP’s earnings call, said the company was seeing a “really strong” housing market so far in the fourth quarter. He attributed that strength to people moving, as the pandemic untethers people to physical office space, and low interest rates.

EXPI stock, however, fell after the company reported the results.

‘Normal’ 2021?

Mortgage rates continue to stay at record lows. The thirty-year fixed-rate mortgage rate averaged 2.71% for the week ending Dec. 10, down from 3.73% a year ago, Freddie Mac said on Thursday.

However, some analysts have predicted an easing of the housing-market trends seen this year.

“The 2021 housing market will be much more normal than the wild swings we saw in 2020,” Danielle Hale, chief economist at realtor.com, said this month.

“Buyers may finally have a better selection of homes to choose from later in the year, but will face a renewed challenge of affordability as prices stay high and mortgage rates rise,” she said.

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