Equity analysts predict that Redfin Co. (NASDAQ: RDFN) will announce $ 233.11 million in sales for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have issued estimates for Redfin’s earnings. The lowest sales estimate is $ 230.70 million and the highest is $ 238.15 million. Redfin reported sales of $ 233.19 million in the same quarter last year, which would indicate a negative year-on-year growth rate of 0%. The company is expected to release its next quarterly earnings report after the market closes on Wednesday, February 24th.
According to Zacks, analysts expect Redfin to report full-year revenue of $ 874.95 million for the current fiscal year, with estimates ranging from $ 872.30 million to $ 879.73 million. For the next fiscal year, analysts predict the company will turn over $ 1.21 billion with estimates ranging from $ 1.12 billion to $ 1.34 billion. Zacks’ average is an average based on a study by research firms covering Redfin.
Several brokers recently commented on RDFN. Truist raised their price target on Redfin shares from $ 63.00 to $ 84.00 in a research report on Monday, December 21st. BTIG Research lowered shares in Redfin from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 12th. Wedbush raised their price target on shares in Redfin from $ 59.00 to $ 86.00 and gave the stock a “better result” in a research report on Wednesday, January 6th. Piper Sandler raised their price target on Redfin shares from $ 58.00 to $ 73.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 15th. Finally, Zacks Investment Research lowered shares in Redfin from a “buy” rating to a “hold” rating in a research report on Tuesday, December 15th. Two analysts have rated the stock with a sales rating, eleven have issued a team rating, and five have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $ 53.93.
In related news, insider Christian John Taubman sold 5,321 shares of the company’s shares in a transaction on Monday, November 30th. The shares were sold at an average price of $ 48.45 for a total transaction of $ 257,802.45. Following the completion of the sale, the insider now directly owns 3,548 shares in the company’s shares worth approx. $ 171,900.60. The transaction was revealed in a document filed with the SEC, which is available through The SEC website. Director Robert J. Bass also sold 1,500 shares of the company’s shares in a transaction on Monday, January 4th. The shares were sold at an average price of $ 68.75 for a total transaction of $ 103,125.00. Following the sale, the CEO directly owns 8,492 shares of the company’s shares worth $ 583,825. The information on this sale can be found here. Over the past ninety days, insiders have sold 86,321 shares of the company’s shares worth $ 5,943,122. Company insiders own 8.20% of the company’s shares.
A number of institutional investors and hedge funds have recently added or reduced their stake in RDFN. Harbor Investment Advisory LLC increased its stake in Redfin by 719.7% in Q3. Harbor Investment Advisory LLC now owns 500 shares of the company’s $ 25,000 stock after acquiring an additional 439 shares in the last quarter. Summit X LLC acquired a new position in Redfin in Q3 worth $ 25,000. Point72 Hong Kong Ltd acquired a new position in Redfin in the 3rd quarter worth $ 27,000. Parallel Advisors LLC increased its stake in Redfin by 757.1% in Q3. Parallel Advisors LLC now owns 720 shares of the company’s share worth $ 36,000 after acquiring an additional 636 shares in the last quarter. Finally, NEXT Financial Group Inc acquired a new position in Redfin in the 3rd quarter worth $ 56,000. 83.82% of the share is owned by institutional investors and hedge funds.
Shares of RDFN opened at $ 90.07 on Friday. The company has a market value of $ 9.22 billion, a price-to-earnings ratio of -180.14 and a beta of 1.96. The company’s 50-day simple moving average is $ 76.61, and its 200-day simple moving average is $ 55.89. Redfin has a minimum year of $ 9.63 and a maximum of a year of $ 97.15.
Redfin company profile
Redfin Corporation operates as a real estate company in the United States and Canada. The company operates an online real estate market and provides real estate services, including assisting individuals with the purchase or sale of homes. It also provides title and settlement services; originates from and sells mortgages and buys and sells homes.
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