Redfin Corporation (NASDAQ:RDFN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

According to Zacks, “Redfin Corporation is engaged in providing residential real estate search and brokerage services. The Company provides an online real estate marketplace and provides real estate services, such as assisting individuals to purchase or sell their residential property. It also provides title and settlement services and originate mortgages. Redfin Corporation is headquartered in Seattle, Washington. “

RDFN has been the topic of several other reports. Oppenheimer Holdings, Inc. initiated coverage on shares of Redfin Corporation in a research report on Tuesday, August 22nd. They issued an “outperform” rating and a $31.00 price target on the stock. William Blair initiated coverage on shares of Redfin Corporation in a research report on Thursday, October 19th. They issued an “outperform” rating on the stock. CIBC initiated coverage on shares of Redfin Corporation in a research report on Tuesday, August 22nd. They issued an “outperform” rating and a $31.00 price target on the stock. Piper Jaffray Companies reiterated a “hold” rating and issued a $26.00 price target on shares of Redfin Corporation in a research report on Wednesday, November 1st. Finally, Royal Bank Of Canada reiterated a “hold” rating and issued a $28.00 price target on shares of Redfin Corporation in a research report on Monday, October 30th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Redfin Corporation has a consensus rating of “Hold” and an average target price of $25.63.

Shares of Redfin Corporation (NASDAQ RDFN) traded up $0.07 during midday trading on Thursday, hitting $21.12. 337,453 shares of the company were exchanged, compared to its average volume of 662,198. Redfin Corporation has a fifty-two week low of $19.29 and a fifty-two week high of $33.49.

Redfin Corporation (NASDAQ:RDFN) last issued its quarterly earnings data on Thursday, November 9th. The company reported $0.12 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.12. The company had revenue of $109.50 million for the quarter, compared to the consensus estimate of $110.62 million. The business’s quarterly revenue was up 35.0% compared to the same quarter last year. research analysts predict that Redfin Corporation will post -0.2 EPS for the current year.

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A number of institutional investors and hedge funds have recently modified their holdings of RDFN. Hillman Co. purchased a new position in Redfin Corporation in the 3rd quarter worth about $31,321,000. Dragoneer Investment Group LLC purchased a new position in Redfin Corporation in the 3rd quarter worth about $24,242,000. Baillie Gifford & Co. purchased a new position in Redfin Corporation in the 3rd quarter worth about $15,442,000. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in Redfin Corporation in the 3rd quarter worth about $9,700,000. Finally, OxFORD Asset Management LLP purchased a new position in Redfin Corporation in the 3rd quarter worth about $8,877,000. 1.50% of the stock is currently 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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Analyst Recommendations for Redfin Corporation (NASDAQ:RDFN)

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