Redfin (NASDAQ:RDFN) Given a $24.00 Price Target by Stephens Analysts

Redfin (NASDAQ:RDFN) has been given a $24.00 target price by Stephens in a research report issued on Monday, TipRanks reports. The brokerage currently has a “buy” rating on the stock. Stephens’ price objective indicates a potential upside of 34.15% from the stock’s previous close.

Several other brokerages have also commented on RDFN. Zacks Investment Research lowered shares of Redfin from a “buy” rating to a “hold” rating in a report on Tuesday, May 14th. Bank of America lifted their target price on shares of Redfin from $21.00 to $22.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Craig Hallum upgraded shares of Redfin from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research report on Wednesday, August 21st. ValuEngine raised shares of Redfin from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Finally, SunTrust Banks began coverage on shares of Redfin in a report on Tuesday, July 9th. They issued a “buy” rating and a $23.00 price objective for the company. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $23.00.

Shares of RDFN traded up $0.02 during mid-day trading on Monday, hitting $17.89. 634,156 shares of the company’s stock traded hands, compared to its average volume of 1,046,825. The company has a quick ratio of 3.19, a current ratio of 3.91 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $1.64 billion, a P/E ratio of -36.51 and a beta of 1.38. The business’s 50-day moving average price is $17.64 and its 200-day moving average price is $18.68. Redfin has a 1 year low of $13.50 and a 1 year high of $23.47.



Redfin (NASDAQ:RDFN) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.01. The company had revenue of $197.80 million during the quarter, compared to analyst estimates of $190.35 million. Redfin had a negative return on equity of 25.83% and a negative net margin of 15.47%. The firm’s revenue was up 38.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.04 earnings per share. Sell-side analysts anticipate that Redfin will post -0.93 earnings per share for the current fiscal year.

In other news, CFO Christopher John Nielsen sold 3,000 shares of Redfin stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $17.09, for a total transaction of $51,270.00. Following the completion of the transaction, the chief financial officer now directly owns 8,542 shares in the company, valued at $145,982.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert J. Mylod, Jr. sold 112,282 shares of Redfin stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $17.50, for a total transaction of $1,964,935.00. Following the transaction, the director now owns 4,516 shares of the company’s stock, valued at $79,030. The disclosure for this sale can be found here. Insiders sold a total of 160,250 shares of company stock worth $2,848,874 over the last ninety days. Insiders own 8.20% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Penserra Capital Management LLC bought a new position in Redfin during the 1st quarter valued at approximately $25,000. NumerixS Investment Technologies Inc bought a new stake in Redfin in the second quarter worth $49,000. Edge Wealth Management LLC boosted its holdings in Redfin by 90.9% in the second quarter. Edge Wealth Management LLC now owns 4,200 shares of the company’s stock worth $76,000 after acquiring an additional 2,000 shares in the last quarter. Aperio Group LLC purchased a new stake in shares of Redfin in the second quarter worth $96,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Redfin by 148.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,579 shares of the company’s stock worth $118,000 after acquiring an additional 3,932 shares during the last quarter. 88.63% of the stock is owned by institutional investors.

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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