A Citizens analyst has reiterated a Market Outperform rating on Newmark Group, Inc., keeping a $21.00 price target on the stock. That target represents approximately a 25% premium to the prevailing share price of $16.85, while the most bullish analyst projection in the market sits at $24. The consensus recommendation among covering analysts remains generally favorable, reflected in a 1.86 recommendation score.
Operational and revenue drivers
The analyst highlighted the impact of recent hiring initiatives, particularly within U.S. capital markets teams. These staffing additions have accompanied notable market share gains, the analyst said, with the most pronounced improvements visible in debt financing activities and within alternative asset classes such as data centers. Those strategic moves have coincided with reported revenue growth of 20.95% over the past twelve months.
Valuation signal
On valuation, Newmark is presented as trading at a low price-to-earnings ratio relative to anticipated near-term earnings growth. The report cites a PEG ratio of 0.31, which the analyst interprets as an indicator of potential undervaluation given recent performance metrics.
International expansion as unmodeled upside
Recent hiring emphasis has also been directed outside the United States. Revenue from EMEA and AsiaPac currently represents just 13% of Newmarks total, but the analyst expects that contribution to rise in 2026 and beyond as garden leave agreements expire and new offices ramp up. That projected international revenue increase is described as upside that is not yet reflected in forward consensus estimates.
Price target methodology
The maintained $21 price target is derived from an unchanged 11x multiple applied to the analysts 2026 earnings-per-share estimate. Citizens continued use of that multiple underscores the firms confidence in Newmarks growth strategy and its scalable platform within the real estate services sector.
Recent transaction activity
Operationally, Newmark has remained active in arranging major refinancing transactions. The company arranged a $690 million loan for West Shore to refinance 13 multifamily properties across five states, identified as the largest multifamily closing in the U.S. this year. Separately, Newmark facilitated a $630 million refinancing for 830 Brickell, a newly delivered Class-A office tower in Miami, with funding led by Goldman Sachs and J.P. Morgan.
Leadership hires and regional growth
On the talent front, Newmark opened a Korean flagship office in Seoul, led by John Pritchard, as part of its international expansion efforts. The company also appointed Peter Trollope as Global Head of Occupier Solutions to oversee growth of its integrated Occupier Solutions business. These moves are presented as strategic steps to broaden Newmarks service offering and geographic footprint.
Analyst view reiterated
In reiterating the Market Outperform rating and the $21.00 target, the analyst pointed to an improving market backdrop and to Newmarks scalable platform as positive factors supporting the recommendation. The report also notes that potential international upside is not currently incorporated into forward estimates, leaving room for upside should those regional contributions materialize as expected.
Note: The article summarizes the analysts published view, valuation approach and recent corporate activity as presented in the analyst report.