Redfin (NASDAQ:RDFN) Announces Earnings Results

Redfin (NASDAQ:RDFN) announced its earnings results on Tuesday. The company reported ($0.57) EPS for the quarter, beating analysts’ consensus estimates of ($0.58) by $0.01, Briefing.com reports. Redfin had a negative net margin of 11.95% and a negative return on equity of 1,780.89%. The business had revenue of $225.50 million during the quarter, compared to analysts’ expectations of $217.79 million. During the same period in the prior year, the company earned ($0.93) earnings per share. The business’s revenue was up 5.3% compared to the same quarter last year.

Redfin Stock Performance

Shares of RDFN opened at $6.64 on Wednesday. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 295.91. Redfin has a 52-week low of $4.26 and a 52-week high of $17.68. The company has a 50-day simple moving average of $6.14 and a 200-day simple moving average of $7.16. The company has a market capitalization of $793.28 million, a PE ratio of -5.44 and a beta of 2.68.

Analyst Ratings Changes

Several analysts have commented on RDFN shares. Gordon Haskett downgraded Redfin from a “hold” rating to an “underperform” rating and set a $5.50 price objective for the company. in a research note on Thursday, February 29th. Royal Bank of Canada decreased their price target on Redfin from $10.00 to $9.00 and set a “sector perform” rating for the company in a report on Wednesday, February 28th. Needham & Company LLC reiterated a “hold” rating on shares of Redfin in a research report on Wednesday. Stephens upgraded shares of Redfin from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $8.00 to $9.00 in a research report on Wednesday. Finally, DA Davidson restated a “neutral” rating and issued a $6.75 target price on shares of Redfin in a research note on Friday, March 22nd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Redfin currently has an average rating of “Hold” and a consensus target price of $8.14.

Insider Buying and Selling

In other Redfin news, insider Anna Stevens sold 10,851 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $6.78, for a total value of $73,569.78. Following the completion of the transaction, the insider now directly owns 15,477 shares of the company’s stock, valued at $104,934.06. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, insider Christian John Taubman sold 7,916 shares of Redfin stock in a transaction on Friday, March 1st. The stock was sold at an average price of $6.90, for a total transaction of $54,620.40. Following the completion of the transaction, the insider now owns 52,117 shares of the company’s stock, valued at approximately $359,607.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Anna Stevens sold 10,851 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $6.78, for a total transaction of $73,569.78. Following the completion of the sale, the insider now owns 15,477 shares in the company, valued at $104,934.06. The disclosure for this sale can be found here. 5.30% of the stock is owned by insiders.

About Redfin

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.