KeyCorp Begins Coverage on Redfin (RDFN)

Investment analysts at KeyCorp assumed coverage on shares of Redfin (NASDAQ:RDFN) in a research note issued on Tuesday, Marketbeat Ratings reports. The brokerage set a “sector weight” rating on the stock.

RDFN has been the subject of a number of other reports. Stifel Nicolaus began coverage on shares of Redfin in a research report on Tuesday, August 22nd. They issued a “hold” rating and a $24.00 price objective for the company. Royal Bank of Canada reaffirmed a “hold” rating and issued a $28.00 price objective on shares of Redfin in a research report on Friday, November 10th. Oppenheimer began coverage on shares of Redfin in a research report on Tuesday, August 22nd. They issued an “outperform” rating and a $31.00 price objective for the company. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $26.00 price objective on shares of Redfin in a research report on Wednesday, November 1st. Finally, Zacks Investment Research downgraded shares of Redfin from a “buy” rating to a “hold” rating in a research report on Thursday, November 16th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $25.20.

Redfin (RDFN) traded down $0.11 on Tuesday, hitting $25.90. 335,200 shares of the company were exchanged, compared to its average volume of 1,013,407. Redfin has a 12 month low of $19.29 and a 12 month high of $33.49.

Redfin (NASDAQ:RDFN) last posted its earnings results on Thursday, November 9th. The company reported $0.12 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.12. The business had revenue of $109.50 million during the quarter, compared to analyst estimates of $110.62 million. The business’s revenue was up 35.0% on a year-over-year basis. analysts expect that Redfin will post -0.2 earnings per share for the current fiscal year.

Hedge funds have recently modified their holdings of the business. Advisor Group Inc. bought a new position in shares of Redfin during the 3rd quarter valued at approximately $129,000. SG Americas Securities LLC bought a new position in shares of Redfin during the 3rd quarter valued at approximately $139,000. Wells Fargo & Company MN bought a new position in shares of Redfin during the 3rd quarter valued at approximately $158,000. FNY Partners Fund LP bought a new position in shares of Redfin during the 3rd quarter valued at approximately $175,000. Finally, American International Group Inc. bought a new position in shares of Redfin during the 3rd quarter valued at approximately $181,000. 37.88% of the stock is owned by institutional investors and hedge funds.

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Redfin 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.

Analyst Recommendations for Redfin (NASDAQ:RDFN)