Susquehanna Boosts Redfin (NASDAQ:RDFN) Price Target to $8.00

Redfin (NASDAQ:RDFNGet Free Report) had its price target hoisted by investment analysts at Susquehanna from $7.00 to $8.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Susquehanna’s price target suggests a potential upside of 12.04% from the company’s previous close.

A number of other research firms have also commented on RDFN. Citigroup lowered their price target on Redfin from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Wednesday, May 8th. Stephens upgraded shares of Redfin from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $8.00 to $9.00 in a report on Wednesday, May 8th. Royal Bank of Canada cut their price target on shares of Redfin from $10.00 to $9.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 28th. DA Davidson lifted their target price on shares of Redfin from $6.75 to $7.25 and gave the stock a “neutral” rating in a research report on Wednesday, May 8th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Redfin in a report on Wednesday, May 8th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $8.08.

Check Out Our Latest Stock Report on Redfin

Redfin Stock Up 1.0 %

Shares of NASDAQ RDFN opened at $7.14 on Monday. The company has a debt-to-equity ratio of 295.91, a current ratio of 1.33 and a quick ratio of 1.33. The company has a 50-day moving average price of $6.12 and a 200-day moving average price of $7.19. The stock has a market capitalization of $853.02 million, a P/E ratio of -6.00 and a beta of 2.68. Redfin has a 1 year low of $4.26 and a 1 year high of $17.68.

Redfin (NASDAQ:RDFNGet Free Report) last released its quarterly earnings results on Tuesday, May 7th. The company reported ($0.57) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.58) by $0.01. The business had revenue of $225.50 million during the quarter, compared to the consensus estimate of $217.79 million. Redfin had a negative return on equity of 1,780.89% and a negative net margin of 13.76%. The company’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.93) EPS. On average, equities research analysts forecast that Redfin will post -1.14 EPS for the current fiscal year.

Insider Buying and Selling at Redfin

In other news, insider Christian John Taubman sold 7,916 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $6.90, for a total transaction of $54,620.40. Following the completion of the transaction, the insider now owns 52,117 shares in the company, valued at approximately $359,607.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Anna Stevens sold 10,851 shares of the business’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $6.78, for a total transaction of $73,569.78. Following the sale, the insider now directly owns 15,477 shares in the company, valued at approximately $104,934.06. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Christian John Taubman sold 7,916 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $6.90, for a total value of $54,620.40. Following the sale, the insider now directly owns 52,117 shares in the company, valued at approximately $359,607.30. The disclosure for this sale can be found here. 5.30% of the stock is owned by corporate insiders.

Institutional Trading of Redfin

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Redfin by 11.3% during the 1st quarter. Vanguard Group Inc. now owns 19,191,434 shares of the company’s stock valued at $127,623,000 after purchasing an additional 1,953,127 shares in the last quarter. Entropy Technologies LP boosted its stake in Redfin by 41.4% during the first quarter. Entropy Technologies LP now owns 80,912 shares of the company’s stock valued at $538,000 after buying an additional 23,689 shares during the period. ProShare Advisors LLC boosted its stake in Redfin by 9.8% during the first quarter. ProShare Advisors LLC now owns 19,876 shares of the company’s stock valued at $132,000 after buying an additional 1,766 shares during the period. Susquehanna Fundamental Investments LLC purchased a new position in Redfin during the first quarter worth about $298,000. Finally, Swiss National Bank increased its stake in Redfin by 1.3% in the 1st quarter. Swiss National Bank now owns 227,500 shares of the company’s stock worth $1,513,000 after acquiring an additional 2,900 shares during the last quarter. 61.07% of the stock is currently owned by hedge funds and other institutional investors.

Redfin Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Redfin (NASDAQ:RDFN)

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