Equities research analysts predict that Redfin Co. (NASDAQ:RDFN) will post $454.65 million in sales for the current quarter, according to Zacks. Eight analysts have made estimates for Redfin's earnings, with estimates ranging from $450.13 million to $459.91 million. Redfin posted sales of $213.67 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 112.8%. The business is expected to issue its next earnings results on Thursday, July 29th.
According to Zacks, analysts expect that Redfin will report full-year sales of $1.70 billion for the current financial year, with estimates ranging from $1.57 billion to $1.83 billion. For the next fiscal year, analysts expect that the business will post sales of $2.26 billion, with estimates ranging from $1.85 billion to $2.52 billion. Zacks Investment Research's sales averages are a mean average based on a survey of analysts that cover Redfin.
Redfin (NASDAQ:RDFN) last released its earnings results on Wednesday, May 5th. The company reported ($0.37) earnings per share for the quarter, missing the Zacks' consensus estimate of ($0.33) by ($0.04). Redfin had a return on equity of 1.37% and a net margin of 0.60%.
RDFN has been the subject of a number of research analyst reports. The Goldman Sachs Group raised shares of Redfin from a "sell" rating to a "neutral" rating and boosted their target price for the stock from $41.00 to $78.00 in a research report on Friday, February 5th. Truist upped their price objective on shares of Redfin from $84.00 to $102.00 in a research report on Tuesday, February 23rd. Piper Sandler cut their price objective on shares of Redfin from $99.00 to $75.00 and set an "overweight" rating for the company in a research report on Thursday, May 6th. DA Davidson upped their price objective on shares of Redfin from $70.00 to $92.00 and gave the company a "neutral" rating in a research report on Wednesday, March 3rd. Finally, Needham & Company LLC began coverage on shares of Redfin in a research report on Monday, May 3rd. They set a "hold" rating for the company. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of "Hold" and an average price target of $60.87.
In other news, Director Robert J. Bass sold 1,500 shares of the stock in a transaction that occurred on Thursday, April 1st. The shares were sold at an average price of $68.54, for a total transaction of $102,810.00. Following the sale, the director now directly owns 6,992 shares of the company's stock, valued at $479,231.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Glenn Kelman sold 30,000 shares of the stock in a transaction that occurred on Wednesday, March 31st. The shares were sold at an average price of $66.39, for a total transaction of $1,991,700.00. Following the sale, the chief executive officer now directly owns 1,569,293 shares in the company, valued at $104,185,362.27. The disclosure for this sale can be found here. Insiders have sold 202,850 shares of company stock worth $11,660,843 over the last ninety days. Insiders own 6.10% of the company's stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in RDFN. Sowell Financial Services LLC grew its stake in shares of Redfin by 211.1% during the first quarter. Sowell Financial Services LLC now owns 532 shares of the company's stock valued at $28,000 after purchasing an additional 361 shares during the last quarter. Wealthcare Advisory Partners LLC bought a new position in Redfin in the first quarter valued at approximately $34,000. Trustcore Financial Services LLC boosted its stake in Redfin by 62.5% in the first quarter. Trustcore Financial Services LLC now owns 650 shares of the company's stock valued at $43,000 after acquiring an additional 250 shares during the last quarter. HHM Wealth Advisors LLC bought a new position in Redfin in the first quarter valued at approximately $47,000. Finally, Orion Capital Management LLC bought a new position in Redfin in the fourth quarter valued at approximately $48,000. 84.27% of the stock is currently owned by institutional investors and hedge funds.
Redfin stock opened at $59.03 on Tuesday. The firm has a market cap of $6.14 billion, a price-to-earnings ratio of -1,475.75 and a beta of 1.87. The company has a debt-to-equity ratio of 3.31, a current ratio of 7.18 and a quick ratio of 6.77. Redfin has a fifty-two week low of $28.87 and a fifty-two week high of $98.44. The firm has a fifty day moving average price of $60.54 and a two-hundred day moving average price of $67.37.
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.
Read More: Options Trading - Understanding Strike Price
Get a free copy of the Zacks research report on Redfin (RDFN)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Before you consider Redfin, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Redfin wasn't on the list.
While Redfin currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The 5 Stocks Here