The Redfin Corporation (RDFN) Has Potential, but It Needs Change

Redfin Corp. (NYSE: RDFN) announced its fourth-quarter 2020 results. Sales continue to grow on the strength of demand for US housing. A double-digit growth rate is expected to return to Redfin in early 2021.

Revenue from Redfin was 244.5 million in Q4, a 5% increase year-on-year, well above its estimate released a few months ago. To achieve $886.1 million in revenue, total revenue increased by 14%. Demand for homes in the United States generated significant growth for Redfin during the past quarters. During the COVID-19 pandemic, thousands of Americans have sought a comfortable place to live away from noisy cities thanks to telecommuting. As a result, there is a slight shortage of homes for sale. The trend toward remote work is likely to continue, further displacing Americans.

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Since the real estate market is experiencing high activity, Redfin has a shortage of agents to assist home buyers. Until the summer of 2021, there will be a shortage of agents. Redfin is still planning to grow sales by double-digits early this year despite this. During the first quarter, management expects revenues to be between $250 million and $250 million, a 30 – 34 % increase YOY.

One of RedfinNow’s growth drivers is its expansion to new cities. Furthermore, Redfin has acquired RentPath for $ 608 million. Redfin’s leading brokerage and search platform will gradually integrate RentPath sites.

Digital brokers Redfin and Trulia provide a range of home-buying, selling, and relocation services. A key advantage of Redfin is that its customers pay a lower percentage of the transaction value. Typically, sellers pay a 2.5% commission to Redfin. However, they could be charged as low as 1%.

Now let’s examine RDFN’s past performance by analyzing different moving trends over the last few years. The stock fell -14.67% during the last week and by 8.06% over the past month. Last quarter, shares of this company’s stock rose 61.95%. During the last six months, the stock’s performance has increased by 57.75%, with a full-year increase of 151.67%. As of this article’s writing, the price performance of this stock is positive at 7.30% over the past year.

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