Redfin Co. (NASDAQ:RDFN) Receives $7.68 Consensus PT from Analysts

Redfin Co. (NASDAQ:RDFN) has been assigned an average rating of “Hold” from the eleven analysts that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned 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 $7.68.

Several analysts recently weighed in on RDFN shares. Wedbush reiterated a “neutral” rating and issued a $8.00 price objective on shares of Redfin in a research report on Wednesday, August 7th. B. Riley raised Redfin from a “neutral” rating to a “buy” rating and lifted their price target for the company from $7.50 to $13.00 in a report on Tuesday, September 3rd. DA Davidson reissued a “neutral” rating and issued a $7.25 price objective on shares of Redfin in a report on Wednesday, July 3rd. Susquehanna lowered their target price on Redfin from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Redfin in a research report on Wednesday, August 7th.

Redfin Stock Up 5.4 %

Shares of Redfin stock opened at $11.50 on Tuesday. The stock has a market capitalization of $1.37 billion, a price-to-earnings ratio of -9.66 and a beta of 2.66. Redfin has a twelve month low of $4.26 and a twelve month high of $11.80. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 295.91. The business’s 50 day simple moving average is $8.43 and its 200-day simple moving average is $7.04.

Redfin (NASDAQ:RDFN) last issued its earnings results on Tuesday, August 6th. The company reported ($0.23) earnings per share for the quarter, topping the consensus estimate of ($0.26) by $0.03. The firm had revenue of $295.20 million for the quarter, compared to analyst estimates of $291.59 million. Redfin had a negative return on equity of 1,780.89% and a negative net margin of 13.55%. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period last year, the company earned ($0.25) earnings per share. Equities research analysts forecast that Redfin will post -1.13 earnings per share for the current year.

Insider Activity

In other news, insider Christian John Taubman sold 3,632 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $9.25, for a total transaction of $33,596.00. Following the completion of the transaction, the insider now owns 71,720 shares in the company, valued at approximately $663,410. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 4.40% of the company’s stock.

Hedge Funds Weigh In On Redfin

A number of hedge funds have recently modified their holdings of the stock. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Redfin during the first quarter valued at $298,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Redfin by 3.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 885,705 shares of the company’s stock worth $9,140,000 after buying an additional 29,618 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Redfin by 11.3% in the first quarter. Vanguard Group Inc. now owns 19,191,434 shares of the company’s stock worth $127,623,000 after buying an additional 1,953,127 shares during the period. EntryPoint Capital LLC purchased a new position in shares of Redfin in the first quarter worth approximately $58,000. Finally, Jacobs Levy Equity Management Inc. raised its holdings in shares of Redfin by 25.8% during the first quarter. Jacobs Levy Equity Management Inc. now owns 2,173,004 shares of the company’s stock valued at $14,450,000 after acquiring an additional 445,486 shares during the period. 61.07% of the stock is currently owned by institutional investors and hedge funds.

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.