DA Davidson Reaffirms Neutral Rating for Redfin (NASDAQ:RDFN)

Redfin (NASDAQ:RDFN)‘s stock had its “neutral” rating reaffirmed by investment analysts at DA Davidson in a research report issued on Tuesday,Benzinga reports. They currently have a $7.25 target price on the stock. DA Davidson’s target price would suggest a potential downside of 9.03% from the stock’s current price.

A number of other analysts have also weighed in on RDFN. The Goldman Sachs Group lowered Redfin from a “neutral” rating to a “sell” rating and increased their target price for the stock from $6.00 to $6.50 in a research note on Monday. Needham & Company LLC reiterated a “hold” rating on shares of Redfin in a report on Wednesday, August 7th. Wedbush upped their target price on shares of Redfin from $8.00 to $10.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Jefferies Financial Group lifted their price target on shares of Redfin from $7.50 to $11.50 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. Finally, Susquehanna increased their price target on Redfin from $7.00 to $10.00 and gave the stock a “neutral” rating in a research report on Monday, November 11th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $8.98.

Redfin Trading Down 1.8 %

Shares of NASDAQ RDFN opened at $7.97 on Tuesday. The firm’s 50-day moving average price is $10.96 and its 200-day moving average price is $8.68. Redfin has a 12-month low of $5.10 and a 12-month high of $15.29. The stock has a market capitalization of $988.12 million, a price-to-earnings ratio of -6.23 and a beta of 2.70.

Redfin (NASDAQ:RDFN) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.08). The business had revenue of $278.02 million for the quarter, compared to the consensus estimate of $280.21 million. During the same period last year, the firm earned ($0.17) earnings per share. On average, equities analysts predict that Redfin will post -1.23 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in RDFN. Hollencrest Capital Management acquired a new position in Redfin during the third quarter valued at $25,000. Blue Trust Inc. grew its holdings in Redfin by 285.7% during the third quarter. Blue Trust Inc. now owns 3,302 shares of the company’s stock worth $41,000 after acquiring an additional 2,446 shares during the period. Quest Partners LLC purchased a new position in Redfin during the third quarter valued at approximately $47,000. Mather Group LLC. lifted its holdings in Redfin by 282.1% in the second quarter. Mather Group LLC. now owns 3,821 shares of the company’s stock valued at $25,000 after acquiring an additional 2,821 shares during the period. Finally, DekaBank Deutsche Girozentrale purchased a new position in shares of Redfin during the 3rd quarter valued at approximately $48,000. Hedge funds and other institutional investors own 61.07% of the company’s stock.

About Redfin

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.