B. Riley Weighs in on Redfin’s FY2024 Earnings (NASDAQ:RDFN)

Redfin Co. (NASDAQ:RDFN) – Equities research analysts at B. Riley reduced their FY2024 earnings per share estimates for Redfin in a report issued on Monday, November 11th. B. Riley analyst N. Khan now expects that the company will post earnings per share of ($1.31) for the year, down from their previous estimate of ($1.15). B. Riley currently has a “Buy” rating and a $15.00 target price on the stock. The consensus estimate for Redfin’s current full-year earnings is ($1.18) per share. B. Riley also issued estimates for Redfin’s Q4 2024 earnings at ($0.24) EPS, Q1 2025 earnings at ($0.31) EPS, Q2 2025 earnings at ($0.25) EPS, Q3 2025 earnings at ($0.18) EPS, Q4 2025 earnings at ($0.22) EPS, FY2025 earnings at ($0.96) EPS, FY2026 earnings at ($0.69) EPS and FY2027 earnings at ($0.24) EPS.

Redfin (NASDAQ:RDFN) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.08). The firm had revenue of $278.02 million for the quarter, compared to analysts’ expectations of $280.21 million. During the same period in the previous year, the company earned ($0.17) earnings per share.

Several other equities research analysts have also commented on the stock. JPMorgan Chase & Co. boosted their price target on shares of Redfin from $7.00 to $8.00 and gave the company a “neutral” rating in a report on Tuesday. Susquehanna upped their price objective on Redfin from $7.00 to $10.00 and gave the stock a “neutral” rating in a research note on Monday. Wedbush boosted their target price on shares of Redfin from $8.00 to $10.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Jefferies Financial Group raised their price target on shares of Redfin from $7.50 to $11.50 and gave the company a “hold” rating in a report on Tuesday, October 22nd. Finally, Needham & Company LLC reissued a “hold” rating on shares of Redfin in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $9.23.

Redfin Trading Down 0.9 %

Shares of Redfin stock opened at $8.71 on Thursday. Redfin has a 12 month low of $5.10 and a 12 month high of $15.29. The stock’s fifty day moving average price is $11.14 and its 200-day moving average price is $8.60. The firm has a market cap of $1.08 billion, a P/E ratio of -6.80 and a beta of 2.70.

Insider Buying and Selling at Redfin

In related news, insider Christian John Taubman sold 3,632 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $9.25, for a total transaction of $33,596.00. Following the completion of the transaction, the insider now directly owns 71,720 shares in the company, valued at $663,410. The trade was a 4.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 4.40% of the company’s stock.

Hedge Funds Weigh In On Redfin

Several institutional investors and hedge funds have recently modified their holdings of RDFN. Vanguard Group Inc. boosted its holdings in Redfin by 11.3% during the first quarter. Vanguard Group Inc. now owns 19,191,434 shares of the company’s stock worth $127,623,000 after buying an additional 1,953,127 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its position in Redfin by 25.8% during the first quarter. Jacobs Levy Equity Management Inc. now owns 2,173,004 shares of the company’s stock worth $14,450,000 after purchasing an additional 445,486 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in Redfin by 210.7% in the third quarter. Assenagon Asset Management S.A. now owns 1,092,371 shares of the company’s stock valued at $13,687,000 after purchasing an additional 740,759 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Redfin by 10.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 998,284 shares of the company’s stock worth $12,508,000 after buying an additional 92,023 shares during the period. Finally, BNP Paribas Financial Markets lifted its position in shares of Redfin by 476.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 799,523 shares of the company’s stock valued at $10,018,000 after buying an additional 660,872 shares in the last quarter. Institutional investors and hedge funds own 61.07% of the company’s stock.

Redfin Company Profile

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. It also provides title and settlement services; and originates and sells mortgages.