Eager rate watchers shouldn't jump the gun with Redfin stock. Central bank policy affects all publicly listed U.S. businesses, more or less. Among the more directly affected companies is Redfin, (RDFN -7.86%) which operates a digital residential real estate marketplace. The Federal Reserve sets the federal funds rate, which in turn affects America's mortgage interests rates. After roughly two years of elevated rates, the tide may finally turn in Redfin's favor if the Fed finally starts to reduce interest ra ...

These two beaten-down stocks are on the rebound. While $5,000 might not seem like much to some, with the power of investing, that money can turn into $10,000, $20,000, and $50,000 over time. Thanks to compounding, your money will grow faster the longer it's invested, so it's always a good idea to get started investing sooner rather than later. If you're looking to double your money -- and have some patience -- keep reading to see two stocks that could turn $5,000 into $10,000 in due time. 1. Redfin Redfin ( ...

Redfin is improving its revenue, profits, and market share in a slowing real estate market, and its business could benefit from a big tailwind next month. Redfin (RDFN -1.84%) is a real estate technology company, and it operates one of the largest brokerages in America. The rapid rise in interest rates during 2022 and 2023 shrank the borrowing capacity of most consumers and put the brakes on the housing market, which crushed Redfin's primary business. With that said, the company continues to deliver modest ...

He really said that: When asked about the company's "Plan B" if mortgage rates don't fall, Redfin CEO Glenn Kelman responded, "Plan B is to drink our own urine or our competitors' blood, stay in the foxhole." This wasn't at some informal, off-the-record gathering. It was on Redfin's second quarter earnings call, the kind of call where executives usually stick to blandly optimistic platitudes — a call that gets transcribed on investor relations websites. The real estate website's earnings were better than ex ...

Sundry Photography Amid recent market turmoil, the real estate industry has still been unable to claw back from several years of post-pandemic softness. High-interest rates continue to eat away at both buyers' affordability and sellers' willingness to move, creating a unique world in which very few homes are changing hands. Against this backdrop, Redfin (NASDAQ:RDFN) has slashed costs and dramatically updated its business strategy. But so far, we have yet to see meaningful results. The brokerage company jus ...

Redfin (RDFN) reported $295.2 million in revenue for the quarter ended June 2024, representing a year-overyear increase of 7.1%. EPS of -$0.23 for the same period compares to -$0.25 a year ago. The reported revenue represents a surprise of +1.24% over the Zacks Consensus Estimate of $291.59 million. With the consensus EPS estimate being -$0.27, the EPS surprise was +14.81%. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street ...

Redfin (RDFN) came out with a quarterly loss of $0.23 per share versus the Zacks Consensus Estimate of a loss of $0.27. This compares to loss of $0.25 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 14.81%. A quarter ago, it was expected that this real estate broker would post a loss of $0.58 per share when it actually produced a loss of $0.57, delivering a surprise of 1.72%. Over the last four quarters, the company has surpa ...

GET FOX BUSINESS ON THE GO BY CLICKING HERE "We do expect there to be some relief, but it might not be enough." "Until America builds more housing over the next 5 or 10 years, we might be in a low sales volume market. Maybe the election will make a difference, just because people can get back to the basic activities of commerce. But I think that housing is just going to be at low volume for a little while now," Kelman said. Redfin CEO Glenn Kelman revealed what he believes to be the "real issue" that is par ...

Core Viewpoint - Momentum investing focuses on "buying high and selling higher," contrasting with traditional strategies of "buying low and selling high" [1] Group 1: Stock Performance - Redfin (RDFN) has experienced a price increase of 28.7% over the past four weeks, indicating strong investor interest [2] - Over the past 12 weeks, RDFN's stock has gained 40.1%, demonstrating its ability to deliver positive returns over a longer timeframe [2] - RDFN has a beta of 2.66, suggesting it moves 166% higher than the market in either direction, indicating fast-paced momentum [3] Group 2: Momentum Score and Earnings Estimates - RDFN has a Momentum Score of B, indicating it is a favorable time to invest in the stock to capitalize on its momentum [3] - The stock has earned a Zacks Rank 2 (Buy) due to an upward trend in earnings estimate revisions, which typically attracts more investors [4] - The momentum-effect is particularly strong among Zacks Rank 1 and 2 stocks, further supporting RDFN's potential for price appreciation [4] Group 3: Valuation Metrics - RDFN is currently trading at a Price-to-Sales ratio of 0.93, suggesting it is attractively priced as investors pay only 93 cents for each dollar of sales [7] - The stock's reasonable valuation, combined with its fast-paced momentum, positions it well for potential growth [7] Group 4: Investment Strategy - The 'Fast-Paced Momentum at a Bargain' screen helps identify fast-moving stocks that are still attractively priced, including RDFN [6][8] - A balanced approach may involve investing in both momentum stocks and bargain stocks to mitigate risks associated with overvaluation [5]

Core Viewpoint - The real estate market is currently facing significant challenges due to rising interest rates, which have led to a slowdown in home sales and forced companies like Redfin to adapt their business strategies to remain profitable [1][7][14]. Company Overview - Redfin has shifted its focus from its iBuying program, which previously generated half of its revenue, to other services such as brokering and mortgage lending, which have higher gross margins [2][15]. - The company reported a gross profit increase of 22% in Q1, driven by cost-cutting measures, although it still faced a $27.6 million loss in adjusted EBITDA [4][10]. Financial Performance - In Q1, Redfin generated $225.5 million in revenue, reflecting a modest 5% increase year-over-year, which is notable given the overall decline in existing home sales [10]. - The company has a cash balance of $107 million and $165 million in loans held for sale, indicating a need for profitability to avoid potential cash flow issues [11][19]. Market Conditions - The U.S. Federal Reserve's aggressive interest rate hikes have significantly impacted the real estate market, with the federal funds rate rising from 0%-0.25% to 5.25%-5.5% in 18 months [7]. - Analysts predict a high likelihood of interest rate cuts by the Fed in late 2024, which could revitalize the housing market and benefit companies like Redfin [6][14]. Investment Potential - Redfin's stock has surged 41% this month, yet it still trades 91% below its all-time high, presenting a potential opportunity for investors if the market rebounds [18]. - The company's current price-to-sales (P/S) ratio is less than 1, indicating that it is undervalued compared to its revenue generation potential [18].