Redfin Corporation (RDFN) Receives Average Recommendation of “Hold” from Analysts
Redfin Corporation (NASDAQ:RDFN) has earned a consensus recommendation of “Hold” from the seven analysts that are covering the firm, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $26.86.
A number of research analysts have recently issued reports on RDFN shares. Royal Bank Of Canada started coverage on Redfin Corporation in a report on Tuesday, August 22nd. They issued a “sector perform” rating and a $28.00 target price on the stock. CIBC started coverage on Redfin Corporation in a report on Tuesday, August 22nd. They issued an “outperform” rating and a $31.00 target price on the stock. Bank of America Corporation reissued a “neutral” rating and issued a $28.00 target price on shares of Redfin Corporation in a report on Tuesday, August 22nd. Piper Jaffray Companies started coverage on Redfin Corporation in a report on Thursday, September 28th. They issued a “neutral” rating and a $26.00 target price on the stock. Finally, Goldman Sachs Group, Inc. (The) started coverage on Redfin Corporation in a report on Tuesday, August 22nd. They issued a “neutral” rating and a $20.00 target price on the stock.
In related news, major shareholder Tiger Global Management Llc bought 260,000 shares of the company’s stock in a transaction dated Friday, July 28th. The shares were acquired at an average price of $15.00 per share, with a total value of $3,900,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Shares of Redfin Corporation (RDFN) remained flat at $25.33 during midday trading on Wednesday. 374,983 shares of the company were exchanged. The company’s market capitalization is $1.78 billion. Redfin Corporation has a 52-week low of $19.29 and a 52-week high of $33.49. The firm has a 50-day moving average of $25.42 and a 200 day moving average of $25.14.
Redfin Corporation (NASDAQ:RDFN) last released its quarterly earnings results on Thursday, September 7th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.05 by $0.01. The firm had revenue of $104.90 million for the quarter, compared to analyst estimates of $104.78 million. The firm’s revenue for the quarter was up 35.0% compared to the same quarter last year. On average, analysts expect that Redfin Corporation will post ($0.16) earnings per share for the current year.
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About Redfin Corporation
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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