DA Davidson Analysts Give Redfin (NASDAQ:RDFN) a $17.50 Price Target

DA Davidson set a $17.50 price objective on Redfin (NASDAQ:RDFN) in a research note released on Tuesday morning, TipRanks reports. The firm currently has a hold rating on the stock.

A number of other analysts have also issued reports on RDFN. BidaskClub lowered shares of Redfin from a hold rating to a sell rating in a research note on Tuesday, October 8th. Bank of America lifted their price target on shares of Redfin from $21.00 to $22.00 and gave the stock a neutral rating in a research note on Friday, August 2nd. Zacks Investment Research upgraded shares of Redfin from a hold rating to a buy rating and set a $18.00 price target for the company in a research note on Tuesday, October 8th. Wedbush set a $30.00 price target on shares of Redfin and gave the stock a buy rating in a research note on Friday, July 12th. Finally, Stephens set a $24.00 price target on shares of Redfin and gave the stock a buy rating in a research note on Monday, September 9th. Ten equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Redfin has an average rating of Buy and a consensus price target of $22.82.

Shares of NASDAQ:RDFN opened at $18.22 on Tuesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 3.19 and a current ratio of 3.91. The company has a fifty day simple moving average of $16.77 and a 200 day simple moving average of $18.19. Redfin has a 12-month low of $13.50 and a 12-month high of $23.47.

Redfin (NASDAQ:RDFN) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.01. The business had revenue of $197.80 million during the quarter, compared to analyst estimates of $190.35 million. Redfin had a negative net margin of 15.47% and a negative return on equity of 25.83%. The business’s revenue was up 38.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.04 earnings per share. As a group, analysts expect that Redfin will post -0.96 earnings per share for the current fiscal year.

In other news, insider Bridget Frey sold 5,000 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $18.88, for a total transaction of $94,400.00. Following the completion of the transaction, the insider now owns 68,627 shares of the company’s stock, valued at $1,295,677.76. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Adam Wiener sold 10,000 shares of the business’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $19.41, for a total transaction of $194,100.00. Following the transaction, the insider now directly owns 245,503 shares of the company’s stock, valued at approximately $4,765,213.23. The disclosure for this sale can be found here. In the last ninety days, insiders sold 155,250 shares of company stock valued at $2,752,534. 8.20% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Redfin by 7.2% during the second quarter. Vanguard Group Inc. now owns 10,440,413 shares of the company’s stock valued at $187,718,000 after acquiring an additional 704,587 shares during the period. Baillie Gifford & Co. boosted its holdings in shares of Redfin by 21.7% during the second quarter. Baillie Gifford & Co. now owns 5,779,516 shares of the company’s stock valued at $103,915,000 after acquiring an additional 1,032,134 shares during the period. BlackRock Inc. boosted its holdings in shares of Redfin by 9.9% during the second quarter. BlackRock Inc. now owns 5,618,562 shares of the company’s stock valued at $101,023,000 after acquiring an additional 504,808 shares during the period. Grantham Mayo Van Otterloo & Co. LLC boosted its holdings in shares of Redfin by 2.4% during the second quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,267,650 shares of the company’s stock valued at $22,792,000 after acquiring an additional 30,000 shares during the period. Finally, Handelsbanken Fonder AB boosted its holdings in shares of Redfin by 57.9% during the second quarter. Handelsbanken Fonder AB now owns 995,000 shares of the company’s stock valued at $17,890,000 after acquiring an additional 364,799 shares during the period. 88.64% 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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