Redfin Corp. (RDFN) Stock Price Up 6.6%
Redfin Corp. (NASDAQ:RDFN) shares rose 6.6% on Friday . The stock traded as high as $28.00 and last traded at $27.97. Approximately 989,179 shares changed hands during mid-day trading, a decline of 41% from the average daily volume of 1,675,760 shares. The stock had previously closed at $26.25.
RDFN has been the subject of several recent analyst reports. Stifel Nicolaus initiated coverage on Redfin Corp. in a research note on Tuesday, August 22nd. They issued a “hold” rating and a $24.00 price target for the company. Bank of America Corporation restated a “neutral” rating and issued a $28.00 price target on shares of Redfin Corp. in a research note on Tuesday, August 22nd. Goldman Sachs Group, Inc. (The) initiated coverage on Redfin Corp. in a research note on Tuesday, August 22nd. They issued a “neutral” rating and a $20.00 price target for the company. CIBC initiated coverage on Redfin Corp. in a research note on Tuesday, August 22nd. They issued an “outperform” rating and a $31.00 price target for the company. Finally, Oppenheimer Holdings, Inc. initiated coverage on Redfin Corp. in a research note on Tuesday, August 22nd. They issued an “outperform” rating and a $31.00 price target for the company. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $27.00.
The stock’s market capitalization is $1.97 billion. The company’s 50 day moving average price is $25.83 and its 200-day moving average price is $24.94.
Redfin Corp. (NASDAQ:RDFN) last posted its quarterly earnings data on Thursday, September 7th. The company reported $0.06 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.01. The business had revenue of $104.90 million during the quarter, compared to analyst estimates of $104.78 million. Redfin Corp.’s revenue for the quarter was up 35.0% on a year-over-year basis. On average, equities analysts forecast that Redfin Corp. will post ($0.17) EPS for the current year.
In other news, major shareholder Tiger Global Management Llc bought 260,000 shares of Redfin Corp. stock in a transaction that occurred on Friday, July 28th. The stock was bought at an average price of $15.00 per share, for a total transaction of $3,900,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
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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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