Shares of eXp World Holdings, Inc. (EXPI), a leading real estate services company, plummeted by 5.08% on November 8, 2024, following the release of the company's disappointing financial results for the fourth quarter of 2023.

For the quarter ended January 1, 2024, eXp World Holdings reported an adjusted loss of 6 cents per share, missing analysts' consensus estimates of 5 cents per share earnings. The company's revenue rose 1.4% year-over-year to $1.23 billion, but fell short of Wall Street's expectations of $1.27 billion. Overall, eXp World Holdings posted a quarterly net loss of $8.51 million.

The weaker-than-expected performance appears to have caught investors off guard, leading to a selloff in the company's shares. Analysts covering the stock expressed concerns over the earnings miss, with some suggesting that it could indicate ongoing challenges in the real estate market. Despite the disappointing results, the current average analyst rating on eXp World Holdings' shares remains a "buy," with a median 12-month price target of $14.75.