Redfin (NASDAQ:RDFN – Get Rating) had its price target increased by DA Davidson from $7.50 to $10.00 in a note issued to investors on Friday, The Fly reports. DA Davidson’s price objective would suggest a potential upside of 4.71% from the company’s previous close.
A number of other brokerages also recently issued reports on RDFN. Oppenheimer raised their price target on shares of Redfin from $3.20 to $7.00 and gave the stock an “underweight” rating in a report on Friday, February 17th. Compass Point upgraded shares of Redfin from a “sell” rating to a “neutral” rating and set a $7.00 price target for the company in a report on Friday, May 5th. Piper Sandler raised their price target on shares of Redfin from $3.00 to $5.00 and gave the stock an “underweight” rating in a report on Tuesday, February 21st. JPMorgan Chase & Co. began coverage on shares of Redfin in a report on Monday, February 27th. They set a “neutral” rating and a $8.00 price target for the company. Finally, Royal Bank of Canada raised their price target on shares of Redfin from $5.00 to $10.00 in a report on Friday, February 17th. Two analysts have rated the stock with a sell rating and twelve have assigned a hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $6.76.
Redfin Stock Down 2.7 %
RDFN stock opened at $9.55 on Friday. The company has a market cap of $1.06 billion, a price-to-earnings ratio of -3.56 and a beta of 2.28. The company has a current ratio of 1.80, a quick ratio of 1.77 and a debt-to-equity ratio of 44.94. Redfin has a 12 month low of $3.08 and a 12 month high of $13.03. The firm has a 50-day moving average of $8.87 and a two-hundred day moving average of $7.11.
Insider Buying and Selling at Redfin
Institutional Investors Weigh In On Redfin
Several institutional investors have recently modified their holdings of RDFN. AlphaCrest Capital Management LLC purchased a new stake in shares of Redfin during the 1st quarter worth $436,000. Bank of Montreal Can raised its stake in Redfin by 207.7% during the 1st quarter. Bank of Montreal Can now owns 18,905 shares of the company’s stock worth $357,000 after acquiring an additional 12,762 shares in the last quarter. MetLife Investment Management LLC raised its stake in Redfin by 55.8% during the 1st quarter. MetLife Investment Management LLC now owns 55,652 shares of the company’s stock worth $1,004,000 after acquiring an additional 19,937 shares in the last quarter. Rhumbline Advisers raised its stake in Redfin by 1.9% during the 1st quarter. Rhumbline Advisers now owns 113,151 shares of the company’s stock worth $2,041,000 after acquiring an additional 2,083 shares in the last quarter. Finally, Brown Brothers Harriman & Co. raised its stake in Redfin by 2.5% during the 1st quarter. Brown Brothers Harriman & Co. now owns 41,236 shares of the company’s stock worth $744,000 after acquiring an additional 1,000 shares in the last quarter. 81.81% of the stock is owned by hedge funds and other institutional investors.
Redfin Corp. engages in the management of an online real estate marketplace and provision of real estate services. It operates through the following segments: Real Estate Services, Properties, Rentals, Mortgage, and Other. The company was founded by David Selinger, David Eraker, and Michael Dougherty in October 2002 and is headquartered in Seattle, WA.
- Get a free copy of the StockNews.com research report on Redfin (RDFN)
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