Company Overview - Redfin (RDFN) shares increased by 7.7% to close at $7.57, with trading volume significantly higher than usual, reflecting strong investor interest [1] - The stock has gained 9% over the past four weeks, indicating a positive trend [1] Earnings Expectations - Redfin is expected to report a quarterly loss of $0.25 per share, unchanged from the same quarter last year [2] - Revenue is projected to be $291.59 million, representing a 5.8% increase from the previous year [2] - The consensus EPS estimate for Redfin has remained stable over the last 30 days, suggesting that stock price movements may not continue without changes in earnings estimates [3] Industry Context - Redfin operates within the Zacks Real Estate - Operations industry, which includes other companies like CBRE Group (CBRE) [4] - CBRE's stock rose by 1.6% to $94.65, with a 4.6% return over the past month, indicating a generally positive sentiment in the industry [4] Market Influences - Increased investor optimism for Redfin is linked to a recent decline in mortgage rates, which is expected to boost housing demand in the United States [5] - Research indicates a strong correlation between earnings estimate revisions and near-term stock price movements, highlighting the importance of monitoring these trends [6] Zacks Rank - Redfin currently holds a Zacks Rank of 2 (Buy), suggesting favorable market conditions for the stock [7] - In contrast, CBRE has seen a 3.3% increase in its consensus EPS estimate over the past month, although this reflects a 12.2% decrease compared to the previous year [7]

Redfin (RDFN) could be a solid choice for investors given its recent upgrade to a Zacks Rank #2 (Buy). This upgrade is essentially a reflection of an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices. As such, the Zacks rating upgrade for Redfin is essentially a positive comment on its earnings outlook that could have a favorable impact on its stock price. For Redfin, rising earnings estimates and the consequent rating upgrade fundamentally mean an improvement in t ...

Some of the heat is coming out of home prices, even though they're still higher than they were a year ago. For the first time since the start of the Covid-19 pandemic, when home sales ground to a halt, the typical home sold for slightly less than its asking price — 0.3% lower — during the four weeks ended June 23, according to real estate brokerage Redfin. A year ago at that time the typical home was selling at list price. Two years ago it was selling at about 2% above list price. Mortgage rates remain stub ...

Don't be put off by this stock's dismal performance lately -- now could be the best time to buy it with interest rate cuts on the horizon. The housing market has been a big casualty of that policy shift. Rising interest rates can reduce the borrowing capacity of the average homebuyer, which often leads to fewer sales. In fact, U.S. existing home sales came in at an annualized rate of 4.1 million units in May, which is 38% below the 2021 peak of 6.6 million units, when interest rates were sitting at record l ...

Company Insights - Redfin is expected to report a quarterly loss of $0.25 per share, unchanged from the same quarter last year, with revenues projected at $291.59 million, reflecting a 5.8% increase year-over-year [1] - The consensus EPS estimate for Redfin has remained stable over the last 30 days, indicating that stock price movements may not continue without earnings estimate revisions [3] - Redfin shares increased by 5.3% in the last trading session, closing at $6.57, with trading volume significantly higher than usual, despite a 21% loss over the past four weeks [5] Industry Insights - Cushman & Wakefield's consensus EPS estimate has decreased by 6.1% over the past month to $0.18, representing an 18.2% decline from the previous year [4] - Cushman & Wakefield currently holds a Zacks Rank of 3 (Hold), similar to Redfin [4] - The Zacks Real Estate - Operations industry includes both Redfin and Cushman & Wakefield, with the latter's stock rising by 3.6% to $10.63, despite a 5.7% decline over the past month [7]

Group 1 - Redfin (RDFN) has shown a technical bullish trend after surpassing resistance at the 20-day moving average, indicating a potential upward movement in stock price [2] - Over the past four weeks, RDFN shares have increased by 11.8%, and the stock currently holds a Zacks Rank 3 (Hold), suggesting further potential for gains [3] - Positive earnings estimate revisions support the bullish outlook for RDFN, with 9 estimates raised in the past two months and no reductions, leading to an increase in the consensus estimate for the current fiscal year [3]

Insider Today Sign up to get the inside scoop on today's biggest stories in markets, tech, and business — delivered daily. Read preview Leading the regional trend is Austin, Texas, where rent fell 6.6% on an annual basis last month. Runner-ups included Nashville, Tennessee, Jacksonville, Miami, and San Diego. "The Sun Belt has built a ton of new apartments in recent years, partly to meet the surge in demand brought on by the flood of people who moved in during the pandemic housing boom," Redfin Senior Econo ...

Core Viewpoint - Redfin (RDFN) shows potential as a stock pick due to surpassing key technical resistance levels, indicating a long-term bullish trend [1][2]. Technical Analysis - RDFN has recently surpassed its 200-day moving average, a significant indicator for traders and analysts, suggesting a positive market trend [1][2]. - Over the past four weeks, RDFN's stock price has increased by 39.4%, reflecting strong momentum [2]. Earnings Estimates - Positive revisions in earnings estimates for RDFN strengthen the bullish outlook, with no estimates decreasing in the past two months and eight estimates increasing [3]. - The consensus estimate for RDFN has also risen, further supporting the case for potential gains [3]. Market Position - RDFN currently holds a Zacks Rank of 3 (Hold), indicating that the stock may continue to rise [2].

Redfin Corporation (NASDAQ:RDFN) Q1 2024 Earnings Conference Call May 7, 2024 4:30 PM ET Company Participants Meg Nunnally - Head of Investor Relations Glenn Kelman - Chief Executive Officer Chris Nielsen - Chief Financial Officer Conference Call Participants Naved Khan - B Riley Securities John Campbell - Stephens Inc. Jason Helfstein - Oppenheimer Stefanos Crist - Needham Ryan McKeveny - Zelman & Associates Ygal Arounian - Citigroup Wyatt Swanson - D.A. Davidson Dan Lee - J.P. Morgan Jay McCanless - Wedbu ...

This presentation contains forward-looking statements. All statements contained in this presentation other than statements of historical fact, including statements regarding our future operating results and financial position, our business strategy and plans, our market growth and trends, and our objectives for future operations, are forward-looking statements. The words "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "could," "would," "project," "plan," "potentially," "p ...