B.Riley FBR analyst Mike Crawford maintained a Buy rating on Reis Inc (NASDAQ: REIS) on August 10 and set a price target of $25. The company’s shares opened today at $19.50.
Crawford noted:
“Buy-rated Reis (REIS, $25 PT) released 2Q18 results and filed its 10-Q after the close on 8/9. Citing its strategic alternatives pursuit process only as “ongoing,” the company did not hold a conference call. Results were closely paralleled and mixed with our projections, with REIS’ 2.3% Y/Y revenue growth to $12.0M in 2Q actually exceeding our $11.9M estimate, while aEBITDA of $2.9M was just shy of our $3.1M projection. Of note, this adjustment excludes $600k of professional fees paid in the period. Renewal rate, including price increases, was a troubling 80.1%, down for the 3rd sequential period and down from 89.2% in the Y/Y period. Deferred revenue, however, grew 7.1% Y/Y to $25.9M, while aggregate revenue under contract ended at $47.5M, including $33.9M slated to be recognized in the forward 12-month period.”
According to TipRanks.com, Crawford is a 4-star analyst with an average return of 9.2% and a 58.9% success rate. Crawford covers the Consumer Goods sector, focusing on stocks such as Finjan Holdings, Kratos Defense, and Silicon Motion.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Reis Inc with a $25 average price target.
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The company has a one-year high of $24 and a one-year low of $15.95. Currently, Reis Inc has an average volume of 17.6K.
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Reis, Inc. engages in the provision of commercial real estate market information and analytical tools to real estate professionals. It operates through the Reis Services and Other segment. The company was founded by Lloyd Lynford and Jonathan Garfield in 1980 and is headquartered in New York, NY.
