What is redfin Corporation?
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.
What is the stock symbol for Redfin?
Goldman Sachs, Allen & Company, BofA Merrill Lynch and RBC Capital Markets served as the underwriters for the IPO and Oppenheimer and Stifel were co-managers. What is Redfin's stock symbol? Redfin trades on the NASDAQ under the ticker symbol "RDFN." How do I buy shares of Redfin? Shares of RDFN can be purchased through any online brokerage account.
Is it time to buy redfin stock?
The U.S. housing market is showing signs of a slowdown. Redfin has been picking up market share anyway with its complete suite of solutions for homebuyers, sellers, and renters. As the company is armed with cash and not losing much money anymore, this looks like a timely opportunity to buy this growth stock.
What is redfin doing right?
Redfin continues to take share in the $43 trillion U. S. housing market, thanks to its proven ability to help its customers sell their homes faster and for higher prices.
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Should I buy Redfin stock?
Redfin is still a bargain right now. My valuation model shows that the intrinsic value for the stock is $43.12, which is above what the market is valuing the company at the moment. This indicates a potential opportunity to buy low. Although, there may be another chance to buy again in the future.
Does Redfin stock pay dividends?
Redfin does not pay dividends on its common stock.
What stock sector is Redfin?
Real EstateKey DataLabelValueExchangeNASDAQ-GSSectorFinanceIndustryReal Estate1 Year Target$13.5013 more rows
Is Redfin publicly traded?
Redfin went public on July 28, 2017. The IPO raised $138 million. The offering priced at $15 a share, above the expected price range of $12 to $14.
Is there Redfin in Canada?
Redfin (www.redfin.ca) is a technology-powered, residential brokerage with a mission to redefine real estate in the consumer's favor. Redfin is now available in Toronto and Vancouver, joining more than 85 markets throughout the United States where Redfin already serves homebuyers and sellers.
Why is Redfin stock dropping?
The company's shares had an inglorious start to the work week, falling nearly 11% after an analyst downgraded his company's recommendation on the online real estate listings company. The downgrader was Wedbush Securities' Jay McCanless, who took over his company's coverage on Redfin stock.
Is Redfin making money?
In 2020, Redfin made $209 million buying and selling homes which was up 24% over 2019. The revenue they make from properties represents around 23% of total revenue.
Is Redfin a profitable company?
Redfin has been in business for years, but it still isn't a profitable company. Both bottom line profits (net income) and free cash flow are in the red, which means that Redfin is burning cash.
Should I buy or sell Redfin stock right now?
13 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Redfin in the last twelve months. There are currently 1 sell rat...
What is Redfin's stock price forecast for 2022?
13 Wall Street research analysts have issued twelve-month price objectives for Redfin's shares. Their forecasts range from $10.00 to $64.00. On ave...
How has Redfin's stock price performed in 2022?
Redfin's stock was trading at $38.39 at the start of the year. Since then, RDFN shares have decreased by 75.0% and is now trading at $9.59. View t...
When is Redfin's next earnings date?
Redfin is scheduled to release its next quarterly earnings announcement on Thursday, August 4th 2022. View our earnings forecast for Redfin .
How were Redfin's earnings last quarter?
Redfin Co. (NASDAQ:RDFN) released its earnings results on Thursday, May, 5th. The company reported ($0.86) earnings per share (EPS) for the quarter...
What guidance has Redfin issued on next quarter's earnings?
Redfin issued an update on its second quarter 2022 earnings guidance on Monday, May, 30th. The company provided earnings per share guidance of for...
Who are Redfin's key executives?
Redfin's management team includes the following people: Mr. Glenn Kelman , Pres, CEO & Director (Age 50, Pay $299.34k) ( LinkedIn Profile ) Mr....
What is Glenn Kelman's approval rating as Redfin's CEO?
387 employees have rated Redfin CEO Glenn Kelman on Glassdoor.com . Glenn Kelman has an approval rating of 80% among Redfin's employees.
Who are some of Redfin's key competitors?
Some companies that are related to Redfin include Opendoor Technologies (OPEN) , eXp World (EXPI) , Newmark Group (NMRK) , Marcus & Millichap (...
About Redfin
Redfin (NASDAQ:RDFN) Frequently Asked Questions
Redfin Corp. provides real estate brokerage services. The firm engages in buying and selling homes. It operates through the following segments: Real Estate Services and Properties. The Real Estate Services segment consists of revenue transactions.
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14 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Redfin in the last year. There are currently 11 hold ratings and 3 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "hold" Redfin stock.
Redfin Corp
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These 2 Real Estate Fintech Disruptor Stocks Are Getting Demolished Friday
Redfin Corp. provides real estate brokerage services. The firm engages in buying and selling homes. It operates through the following segments: Real Estate Services and Properties. The Real Estate Services segment consists of revenue transactions.
Redfin Stock News: Why Is RDFN Down Big Today? 9 Things for Investors to Know
In a tough market, cutting-edge companies are taking a big share of the pain.
Redfin Reports Homebuyers Face the Fastest, Priciest Market on Record
Redfin (RDFN) stock is slipping on Friday following the release of the real estate company's earnings report for the fourth quarter of 2021. The post Redfin Stock News: Why Is RDFN Down Big Today?
Redfin (RDFN) Reports Q4 Loss, Tops Revenue Estimates
SEATTLE-- (BUSINESS WIRE)-- (NASDAQ: RDFN) —Homes sold faster than ever during the four weeks ending February 13, as a record 57% of homes that went under contract did so within two weeks of being listed,...
Redfin stock tanks after forecast shows losses expanding as iBuying business grows
Redfin (RDFN) delivered earnings and revenue surprises of 15.63% and 7.32%, respectively, for the quarter ended December 2021. Do the numbers hold clues to what lies ahead for the stock?
Redfin Reports Fourth Quarter and Full Year 2021 Financial Results
Redfin Corp. shares plunged more than 10% in after-hours trading Thursday, after executives predicted losses in the first quarter of 2022 would exceed full-year losses in 2021 as the company maintains a...
Real Estate Investors Are Buying a Record Share of U.S. Homes
SEATTLE-- (BUSINESS WIRE)--Redfin Corporation (NASDAQ: RDFN) today announced results for its fourth quarter and full year ended December 31, 2021. Fourth Quarter 2021 Fourth quarter revenue was $643.1 mi...
Mounting losses have investors concerned
SEATTLE-- (BUSINESS WIRE)--Investors bought 18.4% of the U.S. homes that were purchased in the fourth quarter, a record high, worth a total of nearly $50 billion.
What happened
Joe honed his investing skills as an analyst for Stock Advisor. He battle-tested his investment philosophy and strategies as portfolio manager of Tier 1, a market-crushing Motley Fool real-money portfolio that delivered 24.58% annualized returns.
So what
Shares of Redfin ( NASDAQ:RDFN) lost 20% of their value on Friday, following the release of the real estate company's fourth-quarter earnings report.
Now what
Redfin continues to take share in the $43 trillion U.S. housing market, thanks to its proven ability to help its customers sell their homes faster and for higher prices.
NASDAQ: RDFN
Redfin expects to post an even larger loss in the first quarter, as it spends heavily to support its growth initiatives. Management forecast a net loss of $115 million to $122 million, which would exceed the $109.6 million Redfin lost in all of 2021.
A fantastic growth story just went on sale
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The case against Redfin
More than a decade removed from the financial crisis of 2008-09, a steady housing market got a shot of rocket fuel in the wake of initial pandemic lockdowns last spring.
NASDAQ: RDFN
According to national real estate statistics, new supply of homes (driven by sellers being coaxed into the market because of a sharp rise in average home price) is beginning to level off, as are actual home sales.
The real reason you might buy Redfin
However, Redfin has been reporting fewer bidding wars and more homeselling price reductions this summer as life during the pandemic has slowly normalized.
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Redfin is taking steps to mitigate these issues, though, including a ramp-up in marketing to increase awareness of the company's services among consumers. This has yielded higher home supply on the site, a key driving force in boosting its U.S. existing home sales market share. On that front, Redfin is still doing quite well.
History
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Referral partner program
Redfin, a real estate brokerage, was founded in 2004 by David Eraker, Michael Dougherty, and David Selinger.
Exclusive referral partnership with Remax
Where Redfin cannot or refuses to directly serve consumers, the company relies on a referral network of over 3,100 agents at other brokerages. In 2017, out of 7,733 of Redfin's real estate transactions originated, 2,041 were completed by its referral network.
NASDAQ: RDFN
On March 18, 2019, Redfin and Remax announced an exclusive referral program. On May 13 of the same year, the companies announced that the partnership would end.
What happened
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So what
Shares of Redfin ( RDFN -20.18% ) dropped 20.7% in November, according to data from S&P Global Market Intelligence. The real estate marketplace and technology company reported solid quarterly results but was dragged down with the broad market sell-off in growth stocks.
NASDAQ: RDFN
On Nov. 4, Redfin released its earnings results for the three months ending in September. Revenue came in at $540 million, up 128% year over year, with gross profit up 37% to $127 million.
Now what
This meager growth in its core brokerage/marketplace business is likely a reason why investors have soured on Redfin stock recently.
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Right now, Redfin has a market cap of $4 billion. If you believe Redfin can continue growing its brokerage, online marketplace, and iBuying businesses over the next few years and beyond, now may be the right time to take a position in this company. But Redfin only generated $376 million in gross profit in the last 12 months and had no net income.
