Marcus & Millichap Inc

In a Stage 2 advancing trend, MMI remains supported by rising EMAs and a pattern of higher highs and higher lows, but the short-term setup is overbought and consolidating just above the EMA zone. Waiting for a cleaner pullback into EMAs before engaging aligns with the stable strategy’s emphasis on controlled entries.

• ↑Revenue up 18% YoY to $203M, with brokerage commissions at $167M.
• ↑Net income rebounded to $4M from a $11M loss; adjusted EBITDA rose to $12M.
• ↓Shares trade roughly 22% above fair value post 13% rally; B/P ratio suggests overvaluation.