Redfin Corporation [RDFN] Revenue clocked in at $886.10 million, down -23.60% YTD: What’s Next?

Redfin Corporation [NASDAQ: RDFN] price plunged by -15.68 percent to reach at -$9.75. The company report on May 6, 2021 that Redfin Reports First Quarter 2021 Financial Results.

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Redfin Corporation (NASDAQ: RDFN) announced financial results for the first quarter ended March 31, 2021. All financial measures, unless otherwise noted, are presented on a GAAP basis and include stock-based compensation, and depreciation and amortization.

Revenue increased 40% year-over-year to $268 million during the first quarter. Gross profit was $42 million, an increase of 229% from $13 million in the first quarter of 2020. Real estate services gross profit was $40 million, an increase of 168% from $15 million in the first quarter of 2020. Real estate services gross margin was 24%, compared to 14% in the first quarter of 2020. Operating expenses were $77 million, an increase of 9% from $70 million in the first quarter of 2020. Operating expenses were 29% of revenue, down from 37% in the first quarter of 2020.

A sum of 7202179 shares traded at recent session while its average daily volume was at 1.80M shares. Redfin Corporation shares reached a high of $59.50 and dropped to a low of $51.2001 until finishing in the latest session at $52.43.

The one-year RDFN stock forecast points to a potential upside of 35.98. The average equity rating for RDFN stock is currently 2.80, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on Redfin Corporation [RDFN]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for RDFN shares is $81.90 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on RDFN stock is a recommendation set at 2.80. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Needham have made an estimate for Redfin Corporation shares, keeping their opinion on the stock as Hold, with their previous recommendation back on April 27, 2021. While these analysts kept the previous recommendation, Evercore ISI raised their target price to In-line. The new note on the price target was released on April 06, 2021, representing the official price target for Redfin Corporation stock. Previously, the target price had yet another raise from $41 to $78, while Goldman kept a Neutral rating on RDFN stock. On January 20, 2021, analysts increased their price target for RDFN shares from 54 to 70.

The Average True Range (ATR) for Redfin Corporation is set at 4.09, with the Price to Sales ratio for RDFN stock in the period of the last 12 months amounting to 6.04. The Price to Book ratio for the last quarter was 9.07, with the Price to Cash per share for the same quarter was set at 10.35. Price to Free Cash Flow for RDFN in the course of the last twelve months was 114.84 with Quick ratio for the last quarter at 6.40.

RDFN Stock Performance Analysis:

Redfin Corporation [RDFN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -25.10. With this latest performance, RDFN shares dropped by -18.54% in over the last four-week period, additionally plugging by 20.64% over the last 6 months – not to mention a rise of 143.86% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for RDFN stock in for the last two-week period is set at 29.77, with the RSI for the last a single of trading hit 22.11, and the three-weeks RSI is set at 34.84 for Redfin Corporation [RDFN]. The present Moving Average for the last 50 days of trading for this stock 67.88, while it was recorded at 64.04 for the last single week of trading, and 60.06 for the last 200 days.

Insight into Redfin Corporation Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Redfin Corporation [RDFN] shares currently have an operating margin of +0.98 and a Gross Margin at +26.19. Redfin Corporation’s Net Margin is presently recorded at -2.09.

Return on Total Capital for RDFN is now 0.95, given the latest momentum, and Return on Invested Capital for the company is -2.21. Return on Equity for this stock declined to -3.85, with Return on Assets sitting at -1.89. When it comes to the capital structure of this company, Redfin Corporation [RDFN] has a Total Debt to Total Equity ratio set at 100.74. Additionally, RDFN Total Debt to Total Capital is recorded at 50.18, with Total Debt to Total Assets ending up at 46.68. Long-Term Debt to Equity for the company is recorded at 91.03, with the Long-Term Debt to Total Capital now at 42.48.

Reflecting on the efficiency of the workforce at the company, Redfin Corporation [RDFN] managed to generate an average of -$4,427 per employee.Redfin Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 6.40 and a Current Ratio set at 6.70.

RDFN Stock EPS

With the latest financial reports released by the company, Redfin Corporation posted -0.64/share EPS, while the average EPS was predicted by analysts to be reported at -0.75/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 14.70%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for RDFN. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Redfin Corporation go to 5.00%.

Redfin Corporation [RDFN] Insider Position Details

There are presently around $5,567 million, or 90.30% of RDFN stock, in the hands of institutional investors. The top three institutional holders of RDFN stocks are: VANGUARD GROUP INC with ownership of 13,964,285, which is approximately 10.51% of the company’s market cap and around 2.40% of the total institutional ownership; BAILLIE GIFFORD & CO, holding 9,900,919 shares of the stock with an approximate value of $615.64 million in RDFN stocks shares; and DURABLE CAPITAL PARTNERS LP, currently with $558.58 million in RDFN stock with ownership of nearly 10.864% of the company’s market capitalization.

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Positions in Redfin Corporation stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 159 institutional holders increased their position in Redfin Corporation [NASDAQ:RDFN] by around 13,198,037 shares. Additionally, 132 investors decreased positions by around 10,446,184 shares, while 55 investors held positions by with 65,880,753 shares. The mentioned changes placed institutional holdings at 89,524,974 shares, according to the latest SEC report filing. RDFN stock had 59 new institutional investments in for a total of 1,990,482 shares, while 35 institutional investors sold positions of 1,285,379 shares during the same period.

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