Benchmark Assigns Buy Rating to Compass (COMP)

Compass Inc. (NYSE:COMP) is one of the 10 best stocks that recently issued new debt.

On March 26, Benchmark Securities initiated its coverage on Compass Inc. (NYSE:COMP). The firm assigned a Buy rating to the stock and forecasted a price target of $14. This results in an upside potential of more than 92% at the current level.

Photo by Owen Lystrup on Unsplash

On February 27, Compass Inc. (NYSE: COMP) released its fourth-quarter revenue figures. They came in at $1.7 billion, exceeding the high end of guidance and expanding by 23% year over year. Furthermore, the company announced a three-year strategic relationship with Rocket Redfin that will yield 1.2 million high-intent leads. From $16.7 million in the previous year, adjusted EBITDA increased by 249% to $58.3 million.

Robert Reffkin, the Founder, Chairman, and CEO, stated:

“We are pleased to have delivered a record fourth quarter revenue and adjusted EBITDA results, both exceeding the high end of our guidance.”

Reffkin unveiled the company’s new objective of achieving $400 million in net cost synergies over a three-year period, as well as its strategy to reach $250 million in cost synergies in the first year.

Compass Inc. (NYSE:COMP) is a technology-led residential real estate brokerage firm. It operates mobile apps and online platforms such as CIRE and Compass to deliver services such as cloud-based CRM, marketing, client service, and title & settlement services. It also enables consumer-grade user interfaces, insightful dashboards, and reporting.

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