Brokerages Set Redfin Corp (NASDAQ:RDFN) Price Target at $23.18

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Shares of Redfin Corp (NASDAQ:RDFN) have been given an average rating of “Buy” by the twenty analysts that are presently covering the firm, MarketBeat reports. Eight research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $23.04.

A number of equities analysts have commented on the stock. Zacks Investment Research raised shares of Redfin from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a research note on Tuesday, October 8th. ValuEngine cut shares of Redfin from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. BidaskClub raised shares of Redfin from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. SunTrust Banks reissued a “buy” rating and issued a $24.00 price objective on shares of Redfin in a research note on Monday, November 4th. Finally, DA Davidson set a $17.50 target price on shares of Redfin and gave the stock a “hold” rating in a report on Tuesday, October 15th.

In other news, CTO Bridget Frey sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $18.00, for a total value of $90,000.00. Following the completion of the sale, the chief technology officer now owns 69,796 shares in the company, valued at approximately $1,256,328. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Adam Wiener sold 10,000 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $20.95, for a total transaction of $209,500.00. Insiders sold a total of 46,000 shares of company stock valued at $868,410 in the last 90 days. Company insiders own 8.20% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Tower Research Capital LLC TRC bought a new stake in Redfin during the 3rd quarter valued at about $25,000. Nisa Investment Advisors LLC bought a new stake in Redfin during the 3rd quarter valued at about $25,000. NumerixS Investment Technologies Inc bought a new stake in Redfin during the 2nd quarter valued at about $49,000. Usca Ria LLC bought a new stake in Redfin during the 3rd quarter valued at about $51,000. Finally, Benjamin F. Edwards & Company Inc. lifted its holdings in Redfin by 28.8% during the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 3,646 shares of the company’s stock valued at $61,000 after buying an additional 815 shares in the last quarter. Institutional investors own 91.41% of the company’s stock.

Shares of NASDAQ:RDFN traded down $0.50 on Tuesday, reaching $19.28. The company’s stock had a trading volume of 814,792 shares, compared to its average volume of 1,495,384. Redfin has a 52-week low of $13.56 and a 52-week high of $23.47. The company has a market cap of $1.82 billion, a P/E ratio of -39.35 and a beta of 1.38. The company has a 50-day simple moving average of $18.74 and a 200 day simple moving average of $17.72. The company has a debt-to-equity ratio of 0.52, a quick ratio of 3.68 and a current ratio of 4.81.

Redfin (NASDAQ:RDFN) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.03. Redfin had a negative net margin of 12.71% and a negative return on equity of 25.71%. The business had revenue of $238.68 million during the quarter, compared to analysts’ expectations of $229.94 million. During the same period last year, the company posted $0.14 EPS. The business’s revenue was up 70.2% on a year-over-year basis. On average, equities research analysts forecast that Redfin will post -0.9 EPS for the current fiscal year.

About Redfin

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

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Analyst Recommendations for Redfin (NASDAQ:RDFN)

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