Redfin Co. (NASDAQ:RDFN) Receives $10.45 Average Price Target from Analysts

Shares of Redfin Co. (NASDAQ:RDFN) have earned an average rating of “Hold” from the fourteen brokerages that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, eleven have issued a hold recommendation, one has issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $10.45.

RDFN has been the topic of several recent research reports. Benchmark restated a “mixed” rating on shares of Redfin in a research report on Monday. Susquehanna decreased their target price on Redfin from $10.00 to $7.00 and set a “neutral” rating on the stock in a research report on Monday, March 3rd. DA Davidson reiterated a “neutral” rating and set a $7.25 target price on shares of Redfin in a research report on Wednesday, February 19th. Piper Sandler upgraded Redfin from an “underweight” rating to a “neutral” rating and increased their target price for the company from $4.00 to $12.50 in a research report on Tuesday, March 11th. Finally, Zelman & Associates upgraded Redfin to a “strong-buy” rating in a research report on Wednesday, March 5th.

Redfin Stock Up 1.4%

Shares of NASDAQ RDFN opened at $10.26 on Friday. Redfin has a 52 week low of $5.49 and a 52 week high of $15.29. The business’s 50 day moving average price is $9.57 and its 200 day moving average price is $8.88. The firm has a market cap of $1.31 billion, a P/E ratio of -8.02 and a beta of 2.50.

Redfin (NASDAQ:RDFN) last released its quarterly earnings data on Tuesday, May 6th. The company reported ($0.73) EPS for the quarter, missing the consensus estimate of ($0.69) by ($0.04). The business had revenue of $221.03 million during the quarter, compared to analyst estimates of $220.89 million. During the same quarter in the previous year, the company posted ($0.57) EPS. The company’s quarterly revenue was down 2.0% on a year-over-year basis. As a group, research analysts expect that Redfin will post -1.25 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Christian John Taubman sold 16,209 shares of Redfin stock in a transaction on Friday, March 21st. The stock was sold at an average price of $11.15, for a total transaction of $180,730.35. Following the transaction, the insider now owns 74,616 shares in the company, valued at $831,968.40. The trade was a 17.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of RDFN. Merit Financial Group LLC raised its holdings in shares of Redfin by 10.7% during the 4th quarter. Merit Financial Group LLC now owns 15,848 shares of the company’s stock worth $125,000 after acquiring an additional 1,529 shares during the period. Ballentine Partners LLC purchased a new stake in Redfin in the 4th quarter valued at about $81,000. SG Americas Securities LLC raised its holdings in Redfin by 47.7% in the 4th quarter. SG Americas Securities LLC now owns 72,615 shares of the company’s stock valued at $571,000 after buying an additional 23,441 shares during the period. Blue Trust Inc. raised its holdings in Redfin by 76.3% in the 4th quarter. Blue Trust Inc. now owns 5,822 shares of the company’s stock valued at $46,000 after buying an additional 2,520 shares during the period. Finally, Perigon Wealth Management LLC raised its holdings in Redfin by 35.6% in the 4th quarter. Perigon Wealth Management LLC now owns 102,836 shares of the company’s stock valued at $796,000 after buying an additional 26,972 shares during the period. Hedge funds and other institutional investors own 61.07% of the company’s stock.

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.