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

A comprehensive review of Redfin (NASDAQ:RDFN) by 5 analysts over the last three months shows a consensus leaning towards a neutral stance, with 4 indifferent and 1 somewhat bearish rating. The average 12-month price target is now $7.25, marking a 17.71% decrease from previous targets. Analysts from DA Davidson, B. Riley Securities, Citigroup, Gordon Haskett, and RBC Capital have adjusted their price targets and ratings, reflecting concerns over Redfin's market position, revenue trends, and financial health. Despite a challenging financial outlook, Redfin's innovative use of technology in real estate services positions it uniquely in the market.

Portfolio Pulse from Benzinga Insights

May 08, 2024 | 12:01 pm

Needham analyst Bernie McTernan reiterates a Hold rating on Redfin (NASDAQ:RDFN), indicating no change in the investment firm's stance on the stock.

Portfolio Pulse from Benzinga Newsdesk

May 08, 2024 | 11:01 am

Redfin projects its Q2 total revenue to be between $285M and $298M, surpassing the estimated $284.86M.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 9:43 pm

Redfin (NASDAQ:RDFN) reported Q1 2024 earnings with a GAAP EPS of $(0.57), surpassing the $(0.58) estimate, and sales of $225.479M, exceeding the $217.836M estimate. This represents a slight decrease in EPS and an increase in sales compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 9:14 pm

Redfin has agreed to a proposed settlement of $9.25 million to resolve the nationwide class action litigation, Gibson v. NAR, No. 4:23-cv-00788. The settlement requires Redfin to pay into a Qualified Settlement Fund within 30 days following the court's preliminary approval of the settlement agreement, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 12:38 pm

U.S. residential home prices surged in February 2024, marking the strongest one-month increase in two years, despite high mortgage costs. The Federal Housing Finance Agency reported a 1.2% month-over-month growth, with a 7% increase from the previous year. The S&P Global 20-city home price index also showed a 7.3% year-on-year increase. Real estate stocks reacted variably, with the Vanguard Real Estate ETF (VNQ) dropping slightly, while companies like NexPoint Residential Trust (NXRT) and Redfin Corporation (RDFN) saw gains. Conversely, SBA Communications Corporation (SBAC) and The Macerich Company (MAC) experienced losses.

Portfolio Pulse from Piero Cingari

April 30, 2024 | 4:36 pm

Skechers U.S.A., Inc. reported better-than-expected first-quarter FY24 earnings, leading to a 16% stock price increase. Other companies like Universal Logistics Holdings, Exponent, Inc., and Snap Inc. also reported strong financial results, contributing to their stock gains. Notably, U.S. Silica Holdings is being acquired by Apollo affiliates, and Alphabet Inc. announced a $70 billion share repurchase program and its first-ever quarterly dividend.

Portfolio Pulse from Avi Kapoor

April 26, 2024 | 2:45 pm

REIT shares are trading lower due to rising Treasury yields following March inflation data, impacting income-paying stocks.

Portfolio Pulse from Benzinga Newsdesk

April 10, 2024 | 5:45 pm

Redfin (NYSE:RDFN) has seen a decrease in short interest, with 20.08 million shares sold short, representing 24.58% of its float. This is a significant reduction of 6.43% from its last report. The current short interest suggests a bullish sentiment among investors, as it takes approximately 3.84 days to cover all short positions. Redfin's short interest is notably higher than its peer group average of 6.18%, indicating more bearish sentiment compared to its peers.

Portfolio Pulse from Benzinga Insights

April 09, 2024 | 8:45 pm

Redfin (NYSE:RDFN) has seen a 7.71% increase in its short percent of float since the last report, with 21.81 million shares sold short, representing 28.07% of its available trading shares. This indicates a bearish market sentiment towards RDFN, although it's not a definitive predictor of a price drop. Redfin's short interest is significantly higher than its peer group average of 7.09%, suggesting more bearish sentiment compared to its peers.

Portfolio Pulse from Benzinga Insights

March 21, 2024 | 5:16 pm

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