Stephens assumed coverage on shares of Redfin (NASDAQ:RDFN) in a note issued to investors on Friday, Marketbeat.com reports. The brokerage set an “underweight” rating and a $17.00 price target on the stock. Stephens’ price objective would suggest a potential downside of 27.47% from the stock’s previous close.
Other equities analysts have also issued research reports about the stock. Zacks Investment Research raised shares of Redfin from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research note on Wednesday, November 15th. Oppenheimer reaffirmed a “buy” rating on shares of Redfin in a research note on Monday, November 20th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $28.00 price objective on shares of Redfin in a research note on Friday, November 10th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $26.00 price objective on shares of Redfin in a research note on Wednesday, November 1st. Finally, Stifel Nicolaus started coverage on shares of Redfin in a research note on Tuesday, August 22nd. They issued a “hold” rating and a $24.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. Redfin presently has an average rating of “Hold” and an average target price of $24.67.
Redfin (NASDAQ RDFN) traded up $0.66 during trading on Friday, reaching $23.44. 810,886 shares of the company were exchanged, compared to its average volume of 1,051,213. Redfin has a 1 year low of $19.29 and a 1 year high of $33.49.
Several large investors have recently modified their holdings of the business. Advisor Group Inc. acquired a new stake in shares of Redfin during the 3rd quarter valued at $129,000. SG Americas Securities LLC acquired a new stake in shares of Redfin during the 3rd quarter valued at $139,000. Wells Fargo & Company MN acquired a new stake in shares of Redfin during the 3rd quarter valued at $158,000. FNY Partners Fund LP acquired a new stake in shares of Redfin during the 3rd quarter valued at $175,000. Finally, American International Group Inc. acquired a new stake in shares of Redfin during the 3rd quarter valued at $181,000. 37.88% of the stock is owned by institutional investors.
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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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