Redfin stock: buy or sell

RDFN stock price: $51.14 5.05% At close on May 14th, 2021

Updated on:
May 17th, 2021

1

Redfin stock brief

  • Redfin closed last Friday at $51.14 after exploding a 5.05% breaking a streak of 4 sessions in red.
  • Looking at the chart, price is drawing an scaled downtrend since last February with lower tops and lower bottoms. this downtrend marked a -48.05% loss(from its highs at $98.45).
  • On May 5, Redfin released its Q1 earnings report
  • Piper Sandler posted a buy rating for Redfin last Wednesday, targeting $75.00
  • Redfin Corporation operates as a residential real estate brokerage company in the United States and Canada.

Should I buy Redfin stock?

All successful traders recommend adhering to a trading strategy and not make decisions based on subjective opinions, rumors or feelings. Trading strategies are meant for helping you in the decision process of what stocks to pick and when is the best moment to buy them. At Stocks2.com, we like to use very simple but trusted and powerful trend following trading strategies. Simple things usually work the best

Is $RDFN stock a buy?

Currently, Redfin stock doesn't match any of these trading strategies, so our recommendation is not to buy now. This doesn't mean $RDFN will slide in coming sessions, or it will not rise higher. Simply, it doesn't match our recommended trading systems

Should I sell Redfin stock?

Do you know when is it time to sell Redfin stock?. Trading strategies prevent us from making impulsive decisions based on our personal feelings or the buzz that surrounds the market. When selling, as well as buying, detailed strategies are very simple to follow and are only applicable for selling shares you already own, not for selling short $RDFN stock

A guiding principle is that you should never hold an investment that produces losses greater than those expected at the time of the buy. The timing to sell your stock always has to be dictated by the stop-loss (automatic or manual)

Is it time to sell Redfin stock?

In the current situation of Redfin there is not any eligible sell setup, so Redfin stock holders with operations in green can keep their positions

Redfin ratings

In the last month, 5 brokerage ratings were published for Redfin. General sentiment is bullish, with 3 out of 5 publishing positive outlooks

Redfin analysts' ratings - Last 30 days
Brokerage firmRating
May 3rd, 2021
Needham & Company LLC Neutral
May 6th, 2021
Oppenheimer Neutral
Piper Sandler NeutralBuy
Wedbush Buy
May 12th, 2021
Piper Sandler Buy

Redfin stock analysis

Redfin accumulates a price drop of -48.05% since its latest high last February at $98.45. Like in all downtrends, the stock oscillates drawing lower highs and lows. In this case, we have seen 3 consecutive lower tops.

SMAs overview

RDFN stock SMAs chart

Supports and resistances

The current resistances are:

  • R1: $51.49 (0.68% above)
  • R2: $55.43 (8.39% above)
  • R3: $56.31 (10.11% above)
  • The current supports are:

  • S1: $47.71 (-6.71% below)
  • S2: $43.90 (-14.16% below)
  • S3: $43.75 (-14.45% below)
  • Bollinger bands

    Since the price broke down the lower band last Thursday, the price bounced by 7.19%

    RDFN stock Bollinger Bands chart

    Relative strength index

    The RSI broke out the oversold line of 30 on May 7 after just being in the oversold zone for just one day (what can be considered a strength signal). The RSI reading last Friday was 34.78

    RDFN stock RSI chart

    Redfin stock price history

    Redfin started trading priced at an adjusted price1 of $19.56 on Jul 2017. Since then, RDFN stock surged by 161.45%, with an average of 53.82% per year. If you had invested thousand dollars in Redfin stock on Jul 2017, it would have a value of $2,614.52 today.

    1: Adjusted price after possible price splits or reverse-splits

    RDFN stock price history chart

    Price target for Redfin stock

    How much a stock will be priced tomorrow or next week is quite unpredictable. However, many stock price predictions are published every day by banks, financial institutions and independent analysts.

    Along with buy or sell recommendations, financial institutions release their price predictions based on the stock price action and the company fundamental data. Most of these predictions follow the release of new fundamental data by the company, and usually. Again, these targets are not direct recommendations for small investors and should not be followed blindly.

    The average price target for Redfin stock calculated from the table below is $78.33. That is a 53.17% than the last price ($51.14).

    Redfin stock price predictions
    Brokerage firmPrice target
    May 3rd, 2021
    Needham & Company LLC Not available
    May 6th, 2021
    Oppenheimer Not available
    Piper Sandler $99.00$75.00
    Wedbush $94.00$85.00
    May 12th, 2021
    Piper Sandler $99.00$75.00

    Earnings and financials

    On May 5, Redfin ($RDFN) had the earnings event and released the report. Redfin underperformed analysts estimates and posted of $-0.37, that is a -8.82% lower than the forecasts of $-0.34. On the contrary, reported sales were $268.3 million compared to estimates of $253.3 million.

    Compared to the same quarter one year ago, EPS was $-0.64, so reported EPS is a improvement of 42.19%. Sales skyrocketed a 40.48% on an annualized basis in the , from $1.9B to $2.7B last quarter.

    Redfin ($RDFN) is posting Q2 earnings report next July. Analysts expect of $-0.33, that is a 10.81% more than previous quarter.

    Redfin performance

    RDFN performance compared
    Company1m3m6m
    Redfin ($RDFN) -26.00% -44.40% 21.40%

    Important note:
    The thoughts contained in this post are personal and not recommendations for you to buy or sell stocks. The author of this report does not know the particular positions of the reader, his or her own financial statements or his or her own best interests at any given time. All users should speak with their financial advisor before buying or selling any securities Opinions are expressed for general educational purposes only

    Redfin summary

    Friday, May 14th, 2021
    Open$49.1
    Close$51.14
    Day range$47.8 - $51.59
    Previous close$48.68
    Session gain5.05%
    Average true range$6.00
    50d mov avg$65.63
    100d mov avg$72.52
    200d mov avg$60.46
    Earnings dateJuly 29th, 2021

    Frequently asked questions

    What is Redfin stock symbol?

    Redfin Corporation is a public company trading in the US stock market with the RDFN symbol

    Is Redfin stock a buy or sell?

    Redfin received 5 ratings in the last 30 days: 3 bullish, 0 bearish and 2 neutral.

    Will RDFN go up?

    Redfin had different price forecasts posted by market analysts in the last 30 days forecasting the target price to $78.33. That is a 53.17% than the last price ($51.14).