What is B. Riley's Forecast for Redfin FY2029 Earnings?

Redfin Co. (NASDAQ:RDFN - Free Report) - Equities research analysts at B. Riley dropped their FY2029 earnings estimates for Redfin in a research report issued on Monday, May 12th. B. Riley analyst N. Khan now forecasts that the company will post earnings of $0.46 per share for the year, down from their prior estimate of $0.51. B. Riley currently has a "Hold" rating on the stock. The consensus estimate for Redfin's current full-year earnings is ($1.25) per share.

Other analysts have also issued research reports about the stock. Zelman & Associates upgraded shares of Redfin to a "strong-buy" rating in a research note on Wednesday, March 5th. Royal Bank of Canada boosted their target price on shares of Redfin from $8.00 to $12.50 and gave the company a "sector perform" rating in a research note on Tuesday, April 15th. JPMorgan Chase & Co. boosted their target price on shares of Redfin from $7.00 to $12.50 and gave the company a "neutral" rating in a research note on Monday, March 24th. Citigroup boosted their target price on shares of Redfin from $7.30 to $9.20 and gave the company a "neutral" rating in a research note on Thursday, May 8th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Redfin in a research note on Tuesday, March 11th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $10.45.

Redfin Price Performance

RDFN stock opened at $9.18 on Tuesday. Redfin has a 1-year low of $5.49 and a 1-year high of $15.29. The firm has a fifty day moving average price of $9.40 and a two-hundred day moving average price of $8.87. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of -7.17 and a beta of 2.50.

Redfin (NASDAQ:RDFN - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.69) by ($0.04). The company had revenue of $221.03 million for the quarter, compared to analyst estimates of $220.89 million. The company's revenue was down 2.0% on a year-over-year basis. During the same period in the previous year, the business posted ($0.57) EPS.

Insider Buying and Selling

In related news, insider Christian John Taubman sold 16,209 shares of the company's stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $11.15, for a total value of $180,730.35. Following the completion of the sale, the insider now owns 74,616 shares of the company's stock, valued at $831,968.40. This represents a 17.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 4.40% of the company's stock.

Institutional Investors Weigh In On Redfin

Several institutional investors have recently bought and sold shares of the stock. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Redfin in the 4th quarter valued at about $27,000. R Squared Ltd acquired a new stake in Redfin in the 4th quarter valued at about $33,000. US Bancorp DE lifted its holdings in Redfin by 48.3% in the 4th quarter. US Bancorp DE now owns 5,522 shares of the company's stock valued at $43,000 after acquiring an additional 1,799 shares during the last quarter. Blue Trust Inc. lifted its holdings in Redfin by 76.3% in the 4th quarter. Blue Trust Inc. now owns 5,822 shares of the company's stock valued at $46,000 after acquiring an additional 2,520 shares during the last quarter. Finally, FNY Investment Advisers LLC acquired a new stake in Redfin in the 1st quarter valued at about $46,000. Institutional investors and hedge funds own 61.07% of the company's stock.

About Redfin

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; and originates and sells mortgages.

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