Redfin Corp (RDFN) Receives $21.86 Average PT from Analysts

Shares of Redfin Corp (NASDAQ:RDFN) have earned a consensus rating of “Hold” from the nineteen analysts that are currently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, twelve have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $21.55.

Several equities analysts recently commented on RDFN shares. BidaskClub upgraded shares of Redfin from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, March 27th. Piper Jaffray Companies upgraded shares of Redfin from a “neutral” rating to an “overweight” rating and upped their target price for the company from $17.00 to $26.00 in a research note on Monday, April 1st. Zacks Investment Research upgraded shares of Redfin from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a research note on Thursday, February 14th. Compass Point started coverage on shares of Redfin in a research note on Thursday, January 24th. They set a “buy” rating and a $20.50 target price for the company. Finally, Susquehanna Bancshares reiterated a “neutral” rating on shares of Redfin in a research note on Monday, April 8th.

NASDAQ:RDFN traded up $0.45 during trading hours on Friday, hitting $17.37. 1,223,446 shares of the company traded hands, compared to its average volume of 1,101,291. The stock has a market cap of $1.58 billion, a P/E ratio of -35.45 and a beta of 0.91. Redfin has a twelve month low of $13.50 and a twelve month high of $26.01. The company has a debt-to-equity ratio of 0.50, a current ratio of 4.73 and a quick ratio of 4.36.



Redfin (NASDAQ:RDFN) last released its earnings results on Wednesday, May 8th. The company reported ($0.74) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.75) by $0.01. The firm had revenue of $110.10 million during the quarter, compared to analysts’ expectations of $103.97 million. Redfin had a negative net margin of 14.06% and a negative return on equity of 22.64%. The business’s quarterly revenue was up 37.8% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.44) EPS. As a group, equities research analysts anticipate that Redfin will post -0.95 EPS for the current year.

In other Redfin news, CEO Glenn Kelman acquired 25,532 shares of the company’s stock in a transaction dated Tuesday, February 19th. The stock was bought at an average price of $19.56 per share, for a total transaction of $499,405.92. Following the purchase, the chief executive officer now owns 2,014,973 shares in the company, valued at approximately $39,412,871.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Scott Nagel sold 13,333 shares of the stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $21.92, for a total transaction of $292,259.36. Following the completion of the transaction, the insider now owns 136,667 shares of the company’s stock, valued at approximately $2,995,740.64. The disclosure for this sale can be found here. In the last 90 days, insiders sold 66,784 shares of company stock valued at $1,400,096. Corporate insiders own 8.20% of the company’s stock.

Several institutional investors have recently made changes to their positions in RDFN. Vanguard Group Inc increased its position in shares of Redfin by 29.5% during the 3rd quarter. Vanguard Group Inc now owns 8,056,148 shares of the company’s stock worth $150,651,000 after purchasing an additional 1,836,101 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Redfin by 29.5% during the 3rd quarter. Vanguard Group Inc. now owns 8,056,148 shares of the company’s stock worth $150,651,000 after purchasing an additional 1,836,101 shares in the last quarter. Baillie Gifford & Co. increased its position in shares of Redfin by 24.5% during the 4th quarter. Baillie Gifford & Co. now owns 4,684,049 shares of the company’s stock worth $67,450,000 after purchasing an additional 921,684 shares in the last quarter. SEI Investments Co increased its position in shares of Redfin by 81.4% during the 1st quarter. SEI Investments Co now owns 1,541,185 shares of the company’s stock worth $31,256,000 after purchasing an additional 691,608 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Redfin during the 4th quarter worth about $6,554,000. Institutional investors and hedge funds own 94.57% of the company’s stock.

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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