Redfin Corporation’s (RDFN) “Hold” Rating Reaffirmed at Royal Bank Of Canada
Redfin Corporation (NASDAQ:RDFN)‘s stock had its “hold” rating reissued by equities researchers at Royal Bank Of Canada in a research note issued to investors on Monday. They presently have a $28.00 target price on the stock. Royal Bank Of Canada’s target price would indicate a potential upside of 20.27% from the company’s current price.
A number of other equities analysts also recently commented on the company. 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 price objective on the stock. William Blair started coverage on Redfin Corporation in a report on Thursday, October 19th. They set an “outperform” rating on the stock. CIBC started coverage on Redfin Corporation in a report on Tuesday, August 22nd. They set an “outperform” rating and a $31.00 price target on the stock. Oppenheimer Holdings Inc. started coverage on Redfin Corporation in a report on Tuesday, August 22nd. They set an “outperform” rating and a $31.00 price target on the stock. Finally, Bank of America Corporation reiterated a “neutral” rating and set a $28.00 price target on shares of Redfin Corporation in a report on Tuesday, August 22nd. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Redfin Corporation currently has an average rating of “Hold” and an average price target of $26.86.
Redfin Corporation (NASDAQ:RDFN) traded up 1.17% during midday trading on Monday, reaching $23.28. 725,890 shares of the company were exchanged. The stock’s market capitalization is $1.64 billion. Redfin Corporation has a 52-week low of $19.29 and a 52-week high of $33.49. The firm’s 50-day moving average price is $25.50 and its 200 day moving average price is $25.50.
Redfin Corporation (NASDAQ:RDFN) last issued its earnings results on Thursday, September 7th. The company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.01. The business had revenue of $104.90 million during 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. Equities analysts predict that Redfin Corporation will post ($0.23) earnings per share for the current year.
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A number of hedge funds have recently modified their holdings of RDFN. Baillie Gifford & Co. acquired a new position in Redfin Corporation during the third quarter worth $15,442,000. First Trust Advisors LP acquired a new position in Redfin Corporation during the third quarter worth $1,548,000. Finally, Nationwide Fund Advisors acquired a new position in Redfin Corporation during the third quarter worth $285,000. 0.97% of the stock is owned by hedge funds and other institutional investors.
Redfin Corporation 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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