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RDFN

Redfin Corporation

https://www.redfin.com

Industry

Real Estate - Services

Redfin Corporation operates as a residential real estate brokerage company in the United States and Canada. The company operates an online real estate marketplace and provides real estate services, including assisting individuals in the purchase or sell of home. It also provides title and settlement services; originates and sells mortgages; and buys and sells homes. The company was formerly known as Appliance Computing Inc. and changed its name to Redfin Corporation in May 2006. Redfin Corporation was incorporated in 2002 and is headquartered in Seattle, Washington.

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DA Davidson analyst Tom White maintains a Neutral rating on Redfin (NASDAQ:RDFN) with a price target of $7.25.

Portfolio Pulse from Benzinga Newsdesk

July 03, 2024 | 2:16 pm

New home sales in the U.S. declined in May due to high mortgage rates, with sales dropping 11.3% from April and 16.5% from May 2023. The median sales price of new homes was $417,400. Despite the dip, significant unmet demand exists, and mortgage rates are expected to moderate in the coming months. Redfin Corp, Re/Max Holdings, and Anywhere Real Estate saw stock price gains on Wednesday.

Portfolio Pulse from Michael Juliano

June 26, 2024 | 10:52 pm

Redfin's (NYSE:RDFN) short interest has increased by 5.28%, with 17.75 million shares sold short, representing 17.95% of its float. This is significantly higher than its peers' average short interest of 5.21%. The high short interest could indicate bearish sentiment but also presents a potential for a short squeeze.

Portfolio Pulse from Benzinga Insights

June 18, 2024 | 6:00 pm

A lower-than-expected inflation report for May has driven Wall Street to record highs, with significant gains in tech, real estate, and small caps ahead of the Federal Reserve meeting. The Nasdaq 100, S&P 500, and iShares Russell 2000 ETF (IWM) saw notable increases. Treasury yields fell, boosting the iShares 20+ Year Treasury Bond ETF (TLT). Sector-specific ETFs like SPDR S&P Homebuilders ETF (XHB) and SPDR S&P Regional Banking ETF (KRE) also surged. Key stock movers included Apple (AAPL), Tesla (TSLA), and several real estate and regional bank stocks.

Portfolio Pulse from Piero Cingari

June 12, 2024 | 5:26 pm

Streamline Health Solutions (NASDAQ:STRM) shares fell 23.3% after reporting worse-than-expected Q1 EPS results. Other notable stock movements include DDC Enterprise (NYSE:DDC) surging 101% after acquiring Omsom, and Beamr Imaging (NASDAQ:BMR) gaining 39.3% following the announcement of its Beamr Cloud solution's availability in the Oracle Cloud Marketplace.

Portfolio Pulse from Avi Kapoor

June 12, 2024 | 5:25 pm

Rent. has appointed Damon Joshua as President. With over 25 years of sales leadership experience, Joshua will guide Rent.'s strategy and operations, aiming to maintain its position as an innovative platform in the multifamily rental industry.

Portfolio Pulse from Benzinga Newsdesk

June 11, 2024 | 3:02 pm

Owning a home in the U.S. has become significantly more expensive since the pandemic, with costs jumping 26% due to increased taxes, utilities, and insurance. The median sale price for a single-family home has risen from $311,287 in March 2020 to $436,291 in March 2024, according to Redfin Corp (NASDAQ:RDFN).

Portfolio Pulse from Michael Juliano

June 10, 2024 | 3:45 pm

Home sellers are slashing prices at the fastest rate in nearly two years due to high mortgage rates. Redfin Corp (NASDAQ:RDFN) reported a decline in median asking prices and an increase in the percentage of price cuts. The housing market faces challenges as mortgage rates remain high, impacting home sales and purchase applications.

Portfolio Pulse from Chris Katje

May 30, 2024 | 9:55 pm

U.S. home prices hit an all-time high in March 2024, with the S&P CoreLogic Case-Shiller 20-city home price index rising by 7.4% year-on-year. This marks the highest annual growth rate since October 2022. The Real Estate Select Sector SPDR Fund (XLRE) and the Vanguard Real Estate ETF (VNQ) rose 0.8%, while Redfin Corp. (RDFN), eXp World Holdings, Inc. (EXPI), and Orion Office REIT Inc. (ONL) saw significant stock gains.

Portfolio Pulse from Piero Cingari

May 28, 2024 | 2:56 pm

Needham analyst Bernie McTernan has reiterated a Hold rating on Redfin (NASDAQ:RDFN).

Portfolio Pulse from Benzinga Newsdesk

May 16, 2024 | 10:07 am

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