Redfin Corp (RDFN) Given Average Recommendation of “Hold” by Analysts
Redfin Corp (NASDAQ:RDFN) has been given a consensus rating of “Hold” by the six brokerages that are covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $27.00.
A number of research firms recently commented on RDFN. CIBC began coverage on shares of Redfin Corp in a report on Tuesday, August 22nd. They issued an “outperform” rating and a $31.00 price target on the stock. Oppenheimer Holdings, Inc. began coverage on shares of Redfin Corp in a report on Tuesday, August 22nd. They issued an “outperform” rating and a $31.00 price target on the stock. Bank of America Corporation reaffirmed a “neutral” rating and issued a $28.00 price target on shares of Redfin Corp in a report on Tuesday, August 22nd. Stifel Nicolaus began coverage on shares of Redfin Corp in a report on Tuesday, August 22nd. They issued a “hold” rating and a $24.00 price target on the stock. Finally, Royal Bank Of Canada began coverage on shares of Redfin Corp in a report on Tuesday, August 22nd. They issued a “sector perform” rating and a $28.00 price target on the stock.
In other Redfin Corp news, major shareholder Tiger Global Management Llc bought 260,000 shares of the stock in a transaction on Friday, July 28th. The shares were acquired at an average price of $15.00 per share, with a total value of $3,900,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.
Shares of Redfin Corp (NASDAQ RDFN) traded down 0.71% during trading on Friday, hitting $26.53. The stock had a trading volume of 2,091,536 shares. The company’s 50 day moving average price is $25.61 and its 200 day moving average price is $24.84. The company’s market capitalization is $1.87 billion. Redfin Corp has a 52 week low of $15.82 and a 52 week high of $33.49.
Redfin Corp (NASDAQ:RDFN) last posted its quarterly earnings results on Thursday, September 7th. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.01. The company had revenue of $104.90 million during the quarter, compared to the consensus estimate of $104.78 million. The firm’s revenue was up 35.0% on a year-over-year basis. Analysts predict that Redfin Corp will post ($0.17) earnings per share for the current year.
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About Redfin Corp
Redfin Corporation is engaged in providing residential real estate brokerage services. The customer can search for homes by neighborhood, city or MLS number, or can refine results using detailed parameters, such as price and number of beds or baths. The Company serves home buyers and sellers. The Company offers online tools to consumers, including Redfin Estimate, which is an automated home-valuation tool.
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