Last Updated on June 25, 2023 by Mathew Diekhake
Redfin is one stock that you want to buy if you don’t invest in real estate and yet want to get similar returns as real estate investors because it’s a real estate stock. But while many real estate investors think is a good time to buy homes, now is not the time I would buy Redfin stock.
Looking at the technicals, Redfin has a short float of 18.19% and a target price of 8.46. Redfin’s current price is 10.32. So that suggests the stock is expected to fall close to 20% over the next year. Those with a medium investment horizon may wish to look at this stock again during 2024 once it sits beneath the target price so at least it isn’t expected to fall.
Redfin has a market cap of 1.09B and its income is -292.10M. Redfin’s RSI is 51.24 and insider transactions over the last 6 months are down -6.07%.