Redfin (NASDAQ:RDFN) Given New $7.00 Price Target at Susquehanna

Redfin (NASDAQ:RDFN) had its price objective cut by analysts at Susquehanna from $8.00 to $7.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Susquehanna’s price target indicates a potential downside of 0.28% from the company’s previous close.

Other equities analysts also recently issued reports about the company. Stephens upgraded Redfin from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $8.00 to $9.00 in a research report on Wednesday, May 8th. Wedbush reiterated a “neutral” rating and set a $8.00 price target on shares of Redfin in a research report on Wednesday. Citigroup lowered their price target on Redfin from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Wednesday, May 8th. Needham & Company LLC reiterated a “hold” rating on shares of Redfin in a research report on Wednesday. Finally, DA Davidson restated a “neutral” rating and set a $7.25 price target on shares of Redfin in a research report on Wednesday, July 3rd. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $7.18.

Redfin Stock Performance

RDFN stock traded up $0.11 during mid-day trading on Thursday, reaching $7.02. The company had a trading volume of 4,107,858 shares, compared to its average volume of 5,073,749. The stock’s 50-day simple moving average is $6.85 and its two-hundred day simple moving average is $6.76. The stock has a market capitalization of $838.68 million, a P/E ratio of -5.90 and a beta of 2.65. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 295.91. Redfin has a one year low of $4.26 and a one year high of $11.16.

Redfin (NASDAQ:RDFN) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.23) earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.03. The firm had revenue of $295.20 million for the quarter, compared to the consensus estimate of $291.59 million. Redfin had a negative net margin of 13.55% and a negative return on equity of 1,780.89%. Redfin’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period last year, the firm posted ($0.25) EPS. Research analysts anticipate that Redfin will post -1.15 EPS for the current year.

Insider Activity at Redfin

In other Redfin news, insider Christian John Taubman sold 3,632 shares of Redfin stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $6.96, for a total value of $25,278.72. Following the transaction, the insider now owns 57,274 shares in the company, valued at $398,627.04. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On Redfin

Large investors have recently modified their holdings of the stock. Mather Group LLC. boosted its holdings in shares of Redfin by 282.1% in the second quarter. Mather Group LLC. now owns 3,821 shares of the company’s stock worth $25,000 after buying an additional 2,821 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in Redfin by 205.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,608 shares of the company’s stock worth $31,000 after purchasing an additional 3,101 shares during the period. EntryPoint Capital LLC acquired a new position in Redfin in the 1st quarter worth approximately $58,000. New York State Teachers Retirement System purchased a new position in Redfin during the 1st quarter worth approximately $66,000. Finally, First Trust Direct Indexing L.P. acquired a new stake in Redfin during the 1st quarter valued at $72,000. 61.07% of the stock is owned by institutional investors.

Redfin Company Profile

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; and originates and sells mortgages.