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 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___ to ___ Commission file number 001-38160 Redfin Corporation (Exact name of registrant as specified in its charter) Delaware 74-3064240 (State or other juri ...

Redfin Reports First Quarter 2024 Financial Results SEATTLE - May 7, 2024 - Redfin Corporation (NASDAQ: RDFN) today announced results for its first quarter ended March 31, 2024. First Quarter 2024 First quarter revenue was $225.5 million, an increase of 5% compared to the first quarter of 2023. Gross profit was $70.8 million, an increase of 22% year-over-year. Real estate services gross profit was $20.3 million, an increase of 28% year-over-year, and real estate services gross margin was 15%, compared to 12 ...

Redfin Corporation (NASDAQ:RDFN) Q4 2023 Earnings Conference Call February 27, 2024 4:30 PM ET Company Participants Meg Nunnally - Head of Investor Relations Glenn Kelman - CEO Chris Nielsen - CFO Conference Call Participants Naved Khan - B Riley Securities Tom White - D.A. Davidson Dan Lee - J .P. Morgan John Campbell - Stephens Nat Schindler - Bank of America Merrill Lynch Ygal Arounian - Citigroup Operator Goo day, and welcome to the Redfin Corporation’s Q4 2023 Earnings Call. At this time, all participa ...