Redfin (RDFN) Releases Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Redfin (NASDAQ:RDFN) issued its quarterly earnings results on Thursday. The company reported $0.04 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.02, Bloomberg Earnings reports. The company had revenue of $142.60 million during the quarter, compared to analysts’ expectations of $140.12 million. The company’s quarterly revenue was up 35.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.06 earnings per share.

Redfin traded down $5.18, reaching $17.96, during trading on Friday, according to Marketbeat Ratings. The company’s stock had a trading volume of 11,399,600 shares, compared to its average volume of 1,369,401. Redfin has a 1 year low of $17.73 and a 1 year high of $31.50. The firm has a market capitalization of $1.86 billion and a price-to-earnings ratio of -90.35.

In other Redfin news, insider Scott Nagel sold 6,250 shares of the firm’s stock in a transaction that occurred on Tuesday, May 29th. The shares were sold at an average price of $21.54, for a total value of $134,625.00. Following the transaction, the insider now directly owns 14,583 shares of the company’s stock, valued at approximately $314,117.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Bridget Frey sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 26th. The stock was sold at an average price of $25.03, for a total transaction of $125,150.00. Following the completion of the transaction, the insider now directly owns 14,583 shares in the company, valued at $365,012.49. The disclosure for this sale can be found here. Insiders sold a total of 69,560 shares of company stock worth $1,572,611 over the last three months. Corporate insiders own 8.80% of the company’s stock.

A number of research analysts recently weighed in on the stock. BidaskClub raised shares of Redfin from a “hold” rating to a “buy” rating in a research note on Wednesday, April 18th. Zacks Investment Research lowered shares of Redfin from a “hold” rating to a “sell” rating in a research note on Tuesday, May 15th. William Blair reaffirmed an “outperform” rating on shares of Redfin in a research note on Friday. Goldman Sachs Group lowered shares of Redfin from a “neutral” rating to a “sell” rating and set a $20.00 price target on the stock. in a research note on Monday, June 18th. Finally, DA Davidson lowered shares of Redfin from a “buy” rating to a “hold” rating and set a $22.00 price target on the stock. in a research note on Friday. Three analysts have rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $25.08.

Redfin Company Profile

Redfin Corporation operates as a real estate brokerage company in the United States. The company operates an online real estate marketplace and provides real estate services, such as assisting individuals to purchase or sell their residential property. It also provides title and settlement services; originates and sells mortgages; and buys and sells residential properties.

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Earnings History for Redfin (NASDAQ:RDFN)

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