Redfin Co. (NASDAQ:RDFN) Receives Consensus Recommendation of “Hold” from Analysts

Redfin Co. (NASDAQ:RDFNGet Rating) has been given an average rating of “Hold” by the fifteen ratings firms that are covering the stock, MarketBeat.com reports. Nine analysts have rated the stock with a hold rating. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $31.54.

A number of equities analysts recently weighed in on the stock. Wedbush lowered their price objective on shares of Redfin from $38.00 to $29.00 in a research report on Friday, February 18th. Susquehanna lowered their price objective on shares of Redfin from $25.00 to $13.00 in a research report on Monday, May 9th. The Goldman Sachs Group lowered their price objective on shares of Redfin from $20.00 to $17.50 and set a “neutral” rating for the company in a research report on Tuesday, April 19th. Truist Financial lowered their price objective on shares of Redfin from $42.00 to $31.00 in a research report on Friday, May 6th. Finally, Susquehanna Bancshares decreased their price target on shares of Redfin from $25.00 to $13.00 in a research report on Monday, May 9th.

In other news, Director Bradley E. Singer acquired 50,000 shares of Redfin stock in a transaction dated Monday, May 9th. The shares were acquired at an average cost of $11.20 per share, for a total transaction of $560,000.00. Following the acquisition, the director now owns 50,000 shares of the company’s stock, valued at $560,000. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Robert J. Mylod, Jr. sold 2,750 shares of the firm’s stock in a transaction on Tuesday, February 22nd. The shares were sold at an average price of $22.30, for a total transaction of $61,325.00. The disclosure for this sale can be found here. Insiders sold a total of 70,000 shares of company stock valued at $1,443,355 in the last three months. 6.10% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. PNC Financial Services Group Inc. raised its stake in Redfin by 5.6% during the 3rd quarter. PNC Financial Services Group Inc. now owns 12,429 shares of the company’s stock worth $624,000 after acquiring an additional 655 shares in the last quarter. Swiss National Bank raised its stake in Redfin by 0.4% during the 4th quarter. Swiss National Bank now owns 207,800 shares of the company’s stock worth $7,977,000 after acquiring an additional 900 shares in the last quarter. Centiva Capital LP raised its stake in Redfin by 132.6% during the 3rd quarter. Centiva Capital LP now owns 12,492 shares of the company’s stock worth $626,000 after acquiring an additional 7,122 shares in the last quarter. Franklin Resources Inc. raised its stake in Redfin by 49.2% during the 3rd quarter. Franklin Resources Inc. now owns 8,689 shares of the company’s stock worth $435,000 after acquiring an additional 2,867 shares in the last quarter. Finally, Strs Ohio raised its stake in Redfin by 3.0% during the 4th quarter. Strs Ohio now owns 24,100 shares of the company’s stock worth $925,000 after acquiring an additional 700 shares in the last quarter. Institutional investors and hedge funds own 97.94% of the company’s stock.

Redfin stock opened at $11.42 on Friday. The firm has a 50 day simple moving average of $15.61 and a 200-day simple moving average of $29.00. Redfin has a 1-year low of $8.65 and a 1-year high of $65.41. The company has a debt-to-equity ratio of 3.92, a current ratio of 3.10 and a quick ratio of 2.21. The stock has a market cap of $1.22 billion, a price-to-earnings ratio of -7.05 and a beta of 1.99.

Redfin (NASDAQ:RDFNGet Rating) last posted its quarterly earnings data on Thursday, May 5th. The company reported ($0.86) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.09) by $0.23. The firm had revenue of $597.30 million during the quarter, compared to analysts’ expectations of $553.97 million. Redfin had a negative net margin of 7.31% and a negative return on equity of 50.39%. The firm’s quarterly revenue was up 122.6% on a year-over-year basis. During the same quarter last year, the company posted ($0.37) EPS. Equities analysts expect that Redfin will post -1.99 earnings per share for the current fiscal year.

Redfin Company Profile (Get Rating)

Redfin Corporation operates as a residential real estate brokerage company in the United States and Canada. The company operates an online real estate marketplace and provides real estate services, including assisting individuals in the purchase or sell of home. It also provides title and settlement services; originates and sells mortgages; and buys and sells homes.

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Analyst Recommendations for Redfin (NASDAQ:RDFN)

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