---
title: "Analyst Reiterates Buy on Real, Citing Strong Q1 Outperformance, Growing Agent Base and Long-Term Upside from Ancillary Services and RE/MAX Deal"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/285602163.md"
description: "William Blair analyst Stephen Sheldon has reiterated a Buy rating on REAX stock, citing strong Q1 performance and a growing agent base. He highlights Real's robust revenue and EBITDA results, expanding free cash flow, and the potential of ancillary services and a proposed RE/MAX acquisition as long-term growth drivers. Sheldon remains cautiously optimistic about the RE/MAX deal, believing it enhances the risk-reward profile for investors. BTIG also maintains a Buy rating with a $4.25 price target."
datetime: "2026-05-07T18:55:30.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/285602163.md)
  - [en](https://longbridge.com/en/news/285602163.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/285602163.md)
---

# Analyst Reiterates Buy on Real, Citing Strong Q1 Outperformance, Growing Agent Base and Long-Term Upside from Ancillary Services and RE/MAX Deal

William Blair analyst Stephen Sheldon has maintained their bullish stance on REAX stock, giving a Buy rating on April 27.

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Stephen Sheldon has given his Buy rating due to a combination of factors, most notably Real’s ability to post robust first-quarter results in a soft housing market and to outgrow the broader U.S. industry by a wide margin. The company delivered strong revenue, gross profit, and adjusted EBITDA upside versus his expectations, translated that into expanding free cash flow, and continued to add agents at a healthy pace when many peers are struggling to grow.

Sheldon also views Real’s emerging ancillary services and technology platform as important long-term drivers of higher revenue and profitability, supporting his confidence beyond the current cycle. While he remains cautiously optimistic about the sizable proposed RE/MAX acquisition, he believes the potential strategic and financial benefits, combined with Real’s differentiated model and leverage to a future housing recovery, justify a favorable risk-reward profile and his Buy recommendation.

In another report released on April 27, BTIG also maintained a Buy rating on the stock with a $4.25 price target.

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