Compass (NYSE:COMP) Reaches New 1-Year High on Analyst Upgrade

Shares of Compass, Inc. (NYSE:COMP) hit a new 52-week high during mid-day trading on Tuesday after The Goldman Sachs Group raised their price target on the stock from $7.00 to $8.00. The Goldman Sachs Group currently has a buy rating on the stock. Compass traded as high as $7.69 and last traded at $7.33, with a volume of 4556819 shares changing hands. The stock had previously closed at $7.14.

A number of other equities research analysts have also commented on the stock. Oppenheimer increased their price objective on shares of Compass from $8.50 to $9.50 and gave the stock an “outperform” rating in a report on Tuesday. Barclays lifted their price objective on shares of Compass from $5.00 to $6.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. UBS Group raised their target price on shares of Compass from $4.40 to $6.50 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Finally, Needham & Company LLC restated a “buy” rating and set a $8.00 target price on shares of Compass in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $6.58.

Insiders Place Their Bets

In other Compass news, major shareholder Excalibur (Cayman) Ltd Svf sold 7,500,000 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $6.24, for a total transaction of $46,800,000.00. Following the transaction, the insider now directly owns 68,070,273 shares in the company, valued at approximately $424,758,503.52. This represents a 9.92 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert L. Reffkin sold 705,083 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $5.92, for a total value of $4,174,091.36. Following the transaction, the chief executive officer now owns 239,219 shares in the company, valued at $1,416,176.48. The trade was a 74.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 9,237,983 shares of company stock valued at $57,751,622. 6.25% of the stock is currently owned by corporate insiders.

Compass Stock Performance

The stock has a market capitalization of $3.63 billion, a P/E ratio of -17.80 and a beta of 2.89. The business has a fifty day simple moving average of $6.28 and a 200-day simple moving average of $5.11.

About Compass

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.