REDFIN CORP (RDFN) Issues Quarterly Earnings Results
REDFIN CORP (NASDAQ:RDFN) released its earnings results on Thursday. The company reported $0.06 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.01, Briefing.com reports. The business had revenue of $104.90 million for the quarter, compared to analyst estimates of $104.78 million. The company’s revenue for the quarter was up 35.0% on a year-over-year basis.
Shares of REDFIN CORP (NASDAQ RDFN) traded down 1.93% during midday trading on Thursday, hitting $25.36. The stock had a trading volume of 1,543,175 shares. The firm has a 50 day moving average of $25.56 and a 200-day moving average of $24.62. The company’s market cap is $1.79 billion. REDFIN CORP has a one year low of $19.29 and a one year high of $33.49.
RDFN has been the topic of several recent analyst reports. CIBC initiated coverage on REDFIN CORP in a research report on Tuesday, August 22nd. They set an “outperform” rating and a $31.00 target price on the stock. Goldman Sachs Group, Inc. (The) initiated coverage on REDFIN CORP in a research report on Tuesday, August 22nd. They set a “neutral” rating and a $20.00 target price on the stock. Oppenheimer Holdings, Inc. initiated coverage on REDFIN CORP in a research report on Tuesday, August 22nd. They set an “outperform” rating and a $31.00 target price on the stock. Stifel Nicolaus initiated coverage on REDFIN CORP in a research report on Tuesday, August 22nd. They set a “hold” rating and a $24.00 target price on the stock. Finally, Royal Bank Of Canada initiated coverage on REDFIN CORP in a research report on Tuesday, August 22nd. They set a “sector perform” rating and a $28.00 target price on the stock. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $27.00.
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In related news, major shareholder Tiger Global Management Llc acquired 260,000 shares of the stock in a transaction that occurred on Friday, July 28th. The shares were acquired at an average price of $15.00 per share, for a total transaction of $3,900,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
REDFIN CORP Company Profile
Redfin Corporation is engaged in providing residential real estate brokerage services. The customer can search for homes by neighborhood, city or MLS number, or can refine results using detailed parameters, such as price and number of beds or baths. The Company serves home buyers and sellers. The Company offers online tools to consumers, including Redfin Estimate, which is an automated home-valuation tool.
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