Redfin Co. (NASDAQ:RDFN) Receives $31.54 Consensus Target Price from Analysts

Redfin Co. (NASDAQ:RDFNGet Rating) has received an average rating of “Hold” from the fifteen analysts that are presently covering the company, MarketBeat reports. Nine research analysts have rated the stock with a hold rating. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $31.54.

RDFN has been the subject of several research reports. Stephens downgraded Redfin from an “overweight” rating to an “equal weight” rating in a research report on Friday, February 18th. Susquehanna Bancshares cut their price objective on Redfin from $25.00 to $13.00 in a research report on Monday, May 9th. Stifel Nicolaus cut their price objective on Redfin from $44.00 to $36.00 and set a “hold” rating for the company in a research report on Friday, February 18th. Zacks Investment Research upgraded Redfin from a “sell” rating to a “hold” rating in a report on Thursday, May 5th. Finally, Royal Bank of Canada downgraded Redfin from an “outperform” rating to a “sector perform” rating and cut their price target for the company from $60.00 to $23.00 in a report on Friday, February 18th.

In related news, Director Robert J. Mylod, Jr. sold 2,750 shares of the stock in a transaction dated Tuesday, February 22nd. The shares were sold at an average price of $22.30, for a total transaction of $61,325.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Glenn Kelman sold 30,000 shares of the stock in a transaction dated Thursday, March 3rd. The stock was sold at an average price of $20.54, for a total transaction of $616,200.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 70,000 shares of company stock worth $1,443,355. Company insiders own 6.10% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Arizona State Retirement System grew its position in Redfin by 1.0% in the 3rd quarter. Arizona State Retirement System now owns 25,506 shares of the company’s stock worth $1,278,000 after purchasing an additional 257 shares during the last quarter. Waldron Private Wealth LLC grew its position in Redfin by 7.6% in the 4th quarter. Waldron Private Wealth LLC now owns 5,397 shares of the company’s stock worth $207,000 after purchasing an additional 382 shares during the last quarter. CIBC Asset Management Inc grew its position in Redfin by 12.3% in the 3rd quarter. CIBC Asset Management Inc now owns 4,235 shares of the company’s stock worth $212,000 after purchasing an additional 464 shares during the last quarter. Eaton Vance Management grew its position in Redfin by 1.2% in the 3rd quarter. Eaton Vance Management now owns 38,966 shares of the company’s stock worth $1,928,000 after purchasing an additional 475 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Redfin by 0.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 185,445 shares of the company’s stock worth $7,120,000 after purchasing an additional 498 shares during the last quarter. Hedge funds and other institutional investors own 97.94% of the company’s stock.

Shares of RDFN stock traded up $0.31 during midday trading on Friday, reaching $10.66. 67,678 shares of the company traded hands, compared to its average volume of 3,675,516. The firm’s 50 day simple moving average is $15.61 and its two-hundred day simple moving average is $28.68. Redfin has a 1-year low of $8.65 and a 1-year high of $65.41. The company has a debt-to-equity ratio of 3.92, a current ratio of 3.10 and a quick ratio of 2.21. The firm has a market cap of $1.14 billion, a PE ratio of -6.39 and a beta of 1.99.

Redfin (NASDAQ:RDFNGet Rating) last issued its quarterly earnings data on Thursday, May 5th. The company reported ($0.86) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.09) by $0.23. Redfin had a negative return on equity of 50.39% and a negative net margin of 7.31%. The firm had revenue of $597.30 million during the quarter, compared to the consensus estimate of $553.97 million. During the same period in the previous year, the firm posted ($0.37) EPS. The company’s quarterly revenue was up 122.6% compared to the same quarter last year. As a group, research analysts anticipate that Redfin will post -2.03 earnings per share for the current fiscal year.

Redfin Company Profile (Get Rating)

Redfin Corporation operates as a residential real estate brokerage company in the United States and Canada. The company operates an online real estate marketplace and provides real estate services, including assisting individuals in the purchase or sell of home. It also provides title and settlement services; originates and sells mortgages; and buys and sells homes.

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Analyst Recommendations for Redfin (NASDAQ:RDFN)

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