Wedbush set a $30.00 target price on Redfin (NASDAQ:RDFN) in a research report sent to investors on Friday, TipRanks reports. The firm currently has a buy rating on the stock.
Several other research analysts also recently weighed in on RDFN. Susquehanna Bancshares restated a neutral rating on shares of Redfin in a research note on Monday, April 8th. Stephens upgraded Redfin from an underweight rating to an overweight rating and boosted their target price for the stock from $18.00 to $23.00 in a research note on Monday, June 10th. SunTrust Banks began coverage on Zillow Group in a research note on Tuesday, July 9th. They set a buy rating and a $49.39 target price on the stock. TheStreet upgraded Third Point Reinsurance from a d+ rating to a c- rating in a research note on Tuesday, May 14th. Finally, DA Davidson set a $16.00 target price on Redfin and gave the stock a hold rating in a research note on Tuesday, July 2nd. Thirteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $22.23.
Shares of RDFN stock opened at $17.52 on Friday. Redfin has a 1-year low of $13.50 and a 1-year high of $26.01. The stock’s fifty day simple moving average is $17.53. The company has a current ratio of 4.73, a quick ratio of 4.36 and a debt-to-equity ratio of 0.50. The stock has a market cap of $1.63 billion, a P/E ratio of -35.76 and a beta of 1.36.
Redfin (NASDAQ:RDFN) last announced its earnings results on Wednesday, May 8th. The company reported ($0.74) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.75) by $0.01. Redfin had a negative return on equity of 22.64% and a negative net margin of 14.06%. The firm had revenue of $110.10 million for the quarter, compared to the consensus estimate of $103.97 million. During the same period in the previous year, the business earned ($0.44) EPS. The firm’s revenue for the quarter was up 37.8% on a year-over-year basis. Sell-side analysts predict that Redfin will post -0.97 EPS for the current year.
In other news, CFO Christopher John Nielsen sold 3,000 shares of the company’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $17.32, for a total value of $51,960.00. Following the sale, the chief financial officer now owns 3,000 shares in the company, valued at $51,960. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Bridget Frey sold 6,381 shares of the company’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $19.76, for a total value of $126,088.56. Following the completion of the sale, the insider now owns 44,313 shares in the company, valued at approximately $875,624.88. The disclosure for this sale can be found here. In the last quarter, insiders have sold 30,381 shares of company stock worth $596,989. Company insiders own 8.20% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Penserra Capital Management LLC purchased a new stake in shares of Redfin in the first quarter worth about $25,000. Captrust Financial Advisors boosted its stake in shares of Redfin by 167.7% in the fourth quarter. Captrust Financial Advisors now owns 2,136 shares of the company’s stock worth $31,000 after buying an additional 1,338 shares during the last quarter. FNY Investment Advisers LLC purchased a new stake in shares of Redfin in the first quarter worth about $36,000. Edge Wealth Management LLC purchased a new stake in shares of Redfin in the first quarter worth about $45,000. Finally, Amalgamated Bank purchased a new stake in shares of Redfin in the fourth quarter worth about $165,000. Hedge funds and other institutional investors own 93.92% of the company’s stock.
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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