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Fly News Breaks for January 27, 2020
Jan 27, 2020 | 09:37 EDT
Stephens analyst John Campbell raised his estimates for Redfin, increased his price target on the stock to $30 from $25 and is recommending that investors take positions or add to their holdings ahead of the upcoming earnings report given his view that the company will deliver strong results and "supply plenty of upbeat outlook commentary." The analyst, who believes Redfin could see gross margin expansion across all of its individual segments in 2020 while it further develops several of its compelling long-term business drivers, reiterated an Overweight rating on the stock.
News For RDFN From the Last 2 Days
Dec 1, 2021 | 19:39 EST
In a press release, Redfin stated: "The number of homes for sale hit an all-time low during the week ending November 28, according to a new report from Redfin. During that period, sustained demand pushed the median home price to another record high, and a third of homes sold in one week or less. The median home-sale price hit a new all-time high of $360,375, up 14% year over year. This was up 31% from the same period in 2019 and up 1.5% from a month earlier, far greater than the 0.2% increase seen during the same period last year. Asking prices of newly listed homes were up 12% from the same time a year ago and up 27% from 2019 to a median of $349,750. Pending home sales were up 8% year over year, and up 49% compared to the same period in 2019. New listings of homes for sale were down 4% from a year earlier, but up 12% from 2019."