Real Brokerage

REAX · NASDAQ

$15.94−$0.38 (−2.33%)TodayMarket closed · Oct 23, 7:35 PM ET

Prev close $16.32

REAX analyst rating

BuyConsensus of 8 analysts over the last 12 months. 75% rate it a buy.

Strong buy0
Buy6
Hold2
Underperform0
Sell0

12-month price target · 8 analysts

Average $46.75 (+193.3% upside)

Low: $35.35
Now: $15.94
High: $68.25

Upgrades and downgrades

The latest rating actions, newest first

REAX analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Zelman & Assoc	Oct 21, 2026	Downgrade	Outperform → Neutral	—	0%
Citizens	Oct 14, 2026	Initiates	Market Outperform	$40.00	27%
Jones Trading	Sep 22, 2026	Maintains	Buy	$40.00	26%
Jones Trading	Sep 15, 2026	Maintains	Buy	$40.00	26%
Jones Trading	Sep 14, 2026	Maintains	Buy	$40.00	26%
Jones Trading	Sep 11, 2026	Maintains	Buy	$40.00	26%
BTIG	Aug 27, 2026	Maintains	Buy	$4.25 → $35.00	40%
Jones Trading	Aug 25, 2026	Maintains	Buy	$4.00 → $40.00	26%
Jones Trading	Aug 6, 2026	Maintains	Buy	$5.00 → $4.00	26%
BTIG	Apr 27, 2026	Maintains	Buy	$4.25	40%

The case for and against

Updated Oct 21, 2026

Bull case

Real REMAX Group is viewed favorably because the September 15th management discussion reinforced confidence that the company can surpass its initial $30mm synergy target while staying focused on deleveraging. The deal economics appear attractive, with costs tracking better than expected, REMAX framed at roughly $160mm in LTM AEBITDA plus $30mm in synergies, and a path to about $190mm on a pro forma basis for FY27. Management also highlighted a <2.0x net leverage goal by YE28, the removal of a $5mm annual AEBITDA drag from Motto Mortgage and Wemlo, and the franchise’s 100% incremental margin profile, all supported by organic growth and potential housing-market upside.

Bear case

Real REMAX Group is exposed to a highly cyclical U.S. and Canada residential real estate market, where weaker home sales from less favorable rates, tighter qualification rules, or adverse macroeconomic conditions such as unemployment, higher energy costs, and credit constraints can quickly pressure demand, profitability, and cash flow. Its business also faces structural risks from intense competition, costly regulation under laws like RESPA, the Fair Housing Act, and the Dodd-Frank Act, plus dependence on retaining agents, franchisees, and key management without key-man life insurance, which raises execution and personnel risk. Seasonal weather swings, leverage risk, and the possibility that AI reduces the need for human intermediaries further threaten revenues, margins, and the success of expansion into mortgage and title services, especially since those services remain limited to select markets.

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