MarketIQ Analyst Report for Redfin Corp

1099 STEWART STREET, SUITE 600, SEATTLE, WA, US
RDFN

Last Updated: 11 Nov 2024

## Executive Summary Redfin Corp (RDFN) is a leading residential real estate brokerage company in the United States and Canada. Despite recent market challenges, the company has maintained a strong financial position and continues to invest in growth initiatives. While the stock price has experienced some volatility, analysts remain optimistic about Redfin's long-term prospects. ## Company Overview Redfin was founded in 2004 and is headquartered in Seattle, Washington. The company operates a technology-driven real estate platform that connects buyers, sellers, and agents. Redfin offers a range of services, including online property listings, home tours, and brokerage services. The company has a presence in over 100 markets across the United States and Canada. ## Fundamental Analysis Revenue: Redfin's revenue for the trailing twelve months (TTM) was $1.02 billion, representing a 0.034% year-over-year growth. The company's revenue growth has been impacted by the recent slowdown in the housing market. Profitability: Redfin has been operating at a loss in recent quarters. The company's EBITDA for the TTM was -$116.2 million, and its diluted EPS for the TTM was -$1.27. Balance Sheet: Redfin has a strong balance sheet with $1.3 billion in cash and equivalents. The company's total debt is $501.2 million. Valuation: Redfin's current market capitalization is $11.99 billion. The company's trailing price-to-sales ratio is 1.179, and its price-to-book ratio is 269.9. ## Technical Analysis Redfin's stock price has been trading within a range of $5.10 to $15.29 over the past 52 weeks. The stock is currently trading at $9.67, below its 50-day and 200-day moving averages. The relative strength index (RSI) is at 42.2, indicating that the stock is neither overbought nor oversold. ## Short Term Outlook In the short term, Redfin's stock price is likely to remain volatile due to the ongoing uncertainty in the housing market. The company's revenue and profitability are expected to be impacted by the slowdown in home sales. However, Redfin's strong balance sheet and continued investment in growth initiatives provide some support for the stock price. ## Long Term Outlook In the long term, Redfin is well-positioned to benefit from the growth of the online real estate market. The company's technology-driven platform and focus on customer experience give it a competitive advantage. Redfin is also expanding its services into new markets, which will further drive growth. ## Analyst Recommendations Analysts are generally positive on Redfin's long-term prospects. The consensus analyst rating is "Hold," with a median price target of $8.7. One analyst has a "Strong Buy" rating, one has a "Buy" rating, twelve have a "Hold" rating, two have a "Sell" rating, and one has a "Strong Sell" rating.