Streetbeat News

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.

Open

10.20

Mkt cap

1.2B

Volume

18M

High

10.50

P/E Ratio

-8.34

52-wk high

15.29

Low

9.28

Div yield

N/A

52-wk low

5.10

Over the past 3 months, 5 analysts have published their opinion on Redfin (NASDAQ:RDFN) stock. The company has an average price target of $11.4 with a high of $15.00 and a low of $10.00. The average price target has increased by 21.66% over the past month. The analysts' ratings are somewhat bearish.

Portfolio Pulse from Benzinga Insights

September 26, 2023 | 12:01 pm

Gordon Haskett analyst Robert Mollins has upgraded Redfin (NASDAQ:RDFN) from Underperform to Hold.

Portfolio Pulse from Benzinga Newsdesk

September 26, 2023 | 11:00 am

Redfin Corporation has reported a 13% year-over-year drop in pending home sales, as mortgage rates remain high. This could potentially impact the company's revenue and profitability.

Portfolio Pulse from Benzinga Newsdesk

September 22, 2023 | 12:12 pm

The Barbie Malibu Dreamhouse, available on Airbnb, requires a high credit score and significant financial backing for purchase. Real estate firms estimate its worth differently, with RubyHome approximating it at $10 million, while Zillow Group and Redfin Corp assess it to be around $5.3 million and $3.3 million, respectively.

Portfolio Pulse from Bibhu Pattnaik

September 20, 2023 | 3:05 pm

The nationwide median home-sale price has surged to $380,000, a 5% year-over-year increase, according to a report by Redfin Corp. This has resulted in the typical monthly mortgage payment reaching an all-time high of $2,649. The price surge is driven by a severe inventory shortage, with new listings down 10% and the total number of U.S. homes for sale down 19%. This has implications for key players in the housing market such as Rocket Companies Inc, Lennar Corp, Wells Fargo & Co, JPMorgan Chase & Co, Ocwen Financial Corp, PulteGroup, Inc, and Bank of America Corp.

Portfolio Pulse from AJ Fabino

August 31, 2023 | 7:51 pm

Google, a subsidiary of Alphabet Inc, plans to license new sets of mapping data to companies to help build products around renewable energy, targeting a revenue of up to $100 million in its first year. The company plans to sell access to new APIs with solar and energy information and air quality. Potential customers include solar installers like Sunrun Inc and Tesla Inc's Tesla Energy, solar design companies like Aurora Solar Technologies Inc, real estate companies like Zillow Group, Inc and Redfin Corp, hospitality companies like Marriott International's Marriott Bonvoy, and utilities like Pacific Gas & Electric Co.

Portfolio Pulse from Anusuya Lahiri

August 29, 2023 | 12:26 pm

Redfin Corporation reported a 15.7% year-on-year slump in pending home sales in July due to decreased homebuyer demand. Despite the sluggish demand, housing prices have remained high. The total number of homes for sale dropped 19.5% from a year earlier. The average 30-year-fixed mortgage rate was 6.84% in July, up from 6.71% a month earlier. Redfin shares are trading higher by 0.11% to $8.79.

Portfolio Pulse from Nabaparna Bhattacharya

August 25, 2023 | 4:15 pm

Redfin CEO Glenn Kelman has warned that high mortgage rates are slowing down the housing market, as people are not moving and therefore not listing their homes. Despite higher mortgage rates increasing monthly payments, the underlying prices of homes have not dropped significantly. This is making it difficult for companies like Redfin Corp and Zillow Group Inc to sell homes. Both companies' stocks have rallied this year, but Redfin's stock has dropped more than 40% in the last month following disappointing earnings results.

Portfolio Pulse from Aaron Bry

August 16, 2023 | 10:09 pm

Analysts have provided indifferent to somewhat bearish ratings for Redfin (NASDAQ:RDFN) in the last quarter. The average price target for Redfin is $11.17, which is higher than its current price of $10.01. This average has increased by 25.51% from the previous average price target of $8.90.

Portfolio Pulse from Benzinga Insights

August 15, 2023 | 9:00 pm

Oppenheimer analyst Jason Helfstein has upgraded Redfin (NASDAQ:RDFN) from Underperform to Perform.

Portfolio Pulse from richadhand@benzinga.com

August 15, 2023 | 9:42 am

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