Compass Reports Q1 Beat Despite Challenging Housing Market 
<p><a href='https://financialmodelingprep.com/financial-summary/COMP'>Compass, Inc. (NYSE:COMP) </a>reported its Q1 results, with EPS of ($0.45) coming in better than the Street estimate of ($0.46). Revenue was $1.4 billion, beating the Street estimate of $1.34 billion.</p>
<p>Despite the beat, analysts at Oppenheimer lowered their price target on the company’s shares to $9 from $14 driven mainly by a decline in peer valuations, but maintain their outperform rating on their strong performance despite a more challenging housing market.</p>
<p>The company’s management expects a worsening housing market to drive agents toward the company given their infrastructure, willingness to invest in agent services, and continued market share gain. </p>
<p>While the analysts believe the company is well-positioned to deliver during a challenged macro and long-term targets, they noted that Softbank's 33% ownership stake remains a major overhang. The analysts lowered their 2022/2023 revenue by 3% and EBITDA by $39 million/$20 million and expect to see margin expansion from fixed-cost leverage and lower spend in 2024/2025.</p>

NYSE:COMP