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

Redfin is expanding its innovative agent pay plan, Redfin Next, to additional markets including Chicago, Connecticut, Dallas, Miami, New York, Palm Beach, and Washington, D.C. This expansion could potentially increase Redfin's market presence and competitiveness in these regions.

Portfolio Pulse from Benzinga Newsdesk

March 21, 2024 | 12:34 pm

The National Association of Realtors (NAR) has reached a $418 million settlement that introduces significant changes to how agent commissions are negotiated, impacting online real estate platforms like Zillow and Redfin. The settlement, effective by mid-July 2024, ends the practice of seller's agents determining buyer's agent compensation and requires written agreements for commissions. This could pose revenue and profit challenges for Zillow and Redfin, which rely heavily on buy-side commissions. However, the settlement also removes a regulatory overhang, and companies with innovative models and technology, including Opendoor and Offerpad, are well-positioned to adapt and potentially benefit in the long term.

Portfolio Pulse from Surbhi Jain

March 18, 2024 | 7:12 pm

Wall Street experienced a risk-off sentiment due to high producer inflation figures, affecting major stock indices and cryptocurrencies. The Nasdaq 100 trailed, while small caps and energy stocks avoided losses. The VIX was up 5%, and the iShares 20+ Year Treasury Bond ETF (TLT) fell nearly 3%. Bitcoin dropped to $68,000. Commodities, especially industrial metals and oil, saw gains, with the Invesco DB Commodity Index Tracking Fund (DBC) poised for its best week since January 2024. Major ETFs like SPY, DIA, and QQQ fell, while sector-specific ETFs like XLE and XLB saw gains. Individual stocks like SCCO, JBL, Z, COMP, RDFN, ADBE, GERN, and CSGP had notable movements.

Portfolio Pulse from Piero Cingari

March 15, 2024 | 6:12 pm

Realtor.com's analysis of the housing market reveals the hottest and coldest metro areas based on supply and demand scores. The coldest markets are mostly in the south, with Houma-Thibodaux, Louisiana being the coldest. The hottest market is Manchester-Nashua, New Hampshire. Companies like Redfin Corp (RDFN) and Zillow Group (Z) also track real estate trends. Mortgage rates have slightly decreased from their 24-year high, influencing demand for new homes.

Portfolio Pulse from Aaron Bry

March 13, 2024 | 8:59 pm

Redfin (NASDAQ:RDFN) has been analyzed by 4 analysts, showing a shift towards a more bearish outlook with 3 indifferent and 1 somewhat bearish ratings recently. The average 12-month price target has been lowered to $7.38, a 22.32% decrease. Analysts from B. Riley Securities, Citigroup, Gordon Haskett, and RBC Capital have adjusted their ratings and price targets, reflecting concerns over Redfin's market performance, revenue growth, and financial health. Redfin's financial indicators such as market capitalization, revenue growth, net margin, ROE, ROA, and debt management suggest challenges ahead.

Portfolio Pulse from Benzinga Insights

March 11, 2024 | 5:01 pm

B. Riley Securities analyst Naved Khan maintains a Neutral rating on Redfin (NASDAQ:RDFN) and lowers the price target from $8 to $7.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 3:08 pm

Redfin shares are trading higher due to a potential increase in housing market activity, spurred by a drop in mortgage rates and a proposed mortgage relief tax credit by the White House.

Portfolio Pulse from Benzinga Newsdesk

March 08, 2024 | 7:30 pm

Smith & Wesson Brands, Inc. (SWBI) reported better-than-expected Q3 financial results, leading to a 25.8% surge in its shares. Other companies like Willdan Group, Gulf Island Fabrication, and Grifols also saw significant gains following positive financial reports or announcements. Notably, Carvana Co. received an upgrade from RBC Capital, contributing to a 12.2% increase in its stock price.

Portfolio Pulse from Avi Kapoor

March 08, 2024 | 3:08 pm

Insiders at Snowflake, Redfin, and Dominion Energy have made notable stock purchases, signaling confidence in their companies. Snowflake's revenue increased by 32% year-over-year, while Redfin reported downbeat quarterly sales. Dominion Energy concluded its business review and issued guidance.

Portfolio Pulse from Avi Kapoor

March 08, 2024 | 11:41 am

Citigroup analyst Ygal Arounian has maintained a Neutral rating on Redfin (NASDAQ:RDFN) and lowered the price target from $10.5 to $8.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 4:59 pm

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