Redfin Co. (NASDAQ:RDFN) Receives Consensus Rating of “Reduce” from Analysts

Redfin Co. (NASDAQ:RDFN) has been assigned an average rating of “Reduce” from the twelve research firms that are covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a sell recommendation and nine have issued a hold recommendation on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $7.44.

Several analysts recently issued reports on the stock. Citigroup lifted their price target on shares of Redfin from $8.60 to $11.00 and gave the company a “neutral” rating in a research report on Monday, August 7th. Compass Point upgraded Redfin from a “sell” rating to a “neutral” rating and set a $7.00 price objective on the stock in a research note on Friday, May 5th. DA Davidson reduced their target price on Redfin from $10.00 to $8.50 in a report on Tuesday, August 8th. Oppenheimer raised Redfin from an “underperform” rating to a “market perform” rating in a report on Tuesday, August 15th. They noted that the move was a valuation call. Finally, Gordon Haskett lowered Redfin from a “hold” rating to an “underperform” rating and set a $10.50 price objective for the company. in a report on Wednesday, July 19th.

Institutional Investors Weigh In On Redfin

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RDFN. Capital Advisors Ltd. LLC grew its stake in Redfin by 3,238.5% in the second quarter. Capital Advisors Ltd. LLC now owns 3,038 shares of the company’s stock worth $38,000 after purchasing an additional 2,947 shares during the period. Point72 Middle East FZE bought a new position in shares of Redfin in the fourth quarter worth about $41,000. Bleakley Financial Group LLC bought a new position in shares of Redfin in the fourth quarter worth about $46,000. Ameraudi Asset Management Inc. bought a new position in shares of Redfin in the fourth quarter worth about $46,000. Finally, Gerber Kawasaki Wealth & Investment Management purchased a new stake in shares of Redfin during the fourth quarter worth about $50,000. 78.59% of the stock is owned by hedge funds and other institutional investors.

Redfin Stock Performance

NASDAQ:RDFN opened at $9.52 on Friday. The company has a market capitalization of $1.08 billion, a PE ratio of -4.33 and a beta of 2.33. The company has a 50 day simple moving average of $12.29 and a two-hundred day simple moving average of $10.11. The company has a debt-to-equity ratio of 87.86, a quick ratio of 1.46 and a current ratio of 1.46. Redfin has a fifty-two week low of $3.08 and a fifty-two week high of $17.68.

Redfin (NASDAQ:RDFN) last announced its quarterly earnings data on Thursday, August 3rd. The company reported ($0.25) EPS for the quarter, topping the consensus estimate of ($0.32) by $0.07. Redfin had a negative net margin of 14.29% and a negative return on equity of 616.23%. The company had revenue of $275.50 million during the quarter, compared to the consensus estimate of $275.70 million. During the same quarter last year, the firm posted ($0.73) EPS. The company’s quarterly revenue was down 54.6% on a year-over-year basis. Research analysts anticipate that Redfin will post -1.1 earnings per share for the current year.

Redfin Company Profile

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; and originates and sells mortgages.