EXPI Stock Forecast & Price Target

eXp World Holdings Inc. has demonstrated robust growth in its agent count, surpassing 20,000 agents, indicating a year-over-year increase of approximately 74% and a quarter-over-quarter increase of around 20% as of the second quarter of 2024. The company's transaction metrics reveal an 8% year-over-year increase in closed residential and commercial transactions, totaling 110,976 in the first quarter of 2024, alongside a gross profit of $78.3 million, which reflects a 9.3% increase year-over-year. Additionally, the company's revenue estimates for 2024 have been raised by 1.5%, influenced by positive transaction volume growth of 12% year-over-year and improved operational efficiencies, which has resulted in an increase in the EBITDA estimate from $76 million to $90 million.

eXp World Holdings Inc has experienced a notable decline in its domestic agent count, decreasing approximately 2% in the second quarter of 2024 compared to the end of the first quarter, which follows an earlier estimated decline of 4%. This downward trend is reflected in a net loss of around 1,500 domestic agents over a three-month period, marking a reversal from the previously observed growth during the summer of 2023. Despite a decrease in operating expenses, the ongoing reduction in agent count and the recent results indicate a concerning trajectory for the company moving forward.