Redfin Corporation (NASDAQ:RDFN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The firm presently has a $24.00 price target on the stock. Zacks Investment Research‘s price target would indicate a potential upside of 13.64% from the company’s current price.

According to Zacks, “Redfin Corporation is engaged in providing residential real estate search and brokerage services. The Company provides an online real estate marketplace and provides real estate services, such as assisting individuals to purchase or sell their residential property. It also provides title and settlement services and originate mortgages. Redfin Corporation is headquartered in Seattle, Washington. “

Several other equities research analysts also recently commented on RDFN. Goldman Sachs Group, Inc. (The) initiated coverage on Redfin Corporation in a report on Tuesday, August 22nd. They issued a “neutral” rating and a $20.00 price objective for the company. Royal Bank Of Canada initiated coverage on Redfin Corporation in a report on Tuesday, August 22nd. They issued a “sector perform” rating and a $28.00 price objective for the company. Stifel Nicolaus initiated coverage on Redfin Corporation in a report on Tuesday, August 22nd. They issued a “hold” rating and a $24.00 price objective for the company. Bank of America Corporation reiterated a “neutral” rating and issued a $28.00 price objective on shares of Redfin Corporation in a report on Tuesday, August 22nd. Finally, Oppenheimer Holdings, Inc. initiated coverage on Redfin Corporation in a report on Tuesday, August 22nd. They issued an “outperform” rating and a $31.00 price objective for the company. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Redfin Corporation has a consensus rating of “Hold” and a consensus price target of $25.63.

Shares of Redfin Corporation (RDFN) traded up $0.07 during trading hours on Wednesday, hitting $21.12. The stock had a trading volume of 337,453 shares, compared to its average volume of 1,094,608. Redfin Corporation has a 1 year low of $19.29 and a 1 year high of $33.49.

Redfin Corporation (NASDAQ:RDFN) last released its quarterly earnings data on Thursday, November 9th. The company reported $0.12 EPS for the quarter, hitting the consensus estimate of $0.12. The business had revenue of $109.50 million during the quarter, compared to the consensus estimate of $110.62 million. The company’s revenue for the quarter was up 35.0% on a year-over-year basis. sell-side analysts anticipate that Redfin Corporation will post -0.2 EPS for the current fiscal year.

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Institutional investors have recently added to or reduced their stakes in the business. Advisor Group Inc. bought a new stake in shares of Redfin Corporation during the 3rd quarter valued at about $129,000. SG Americas Securities LLC bought a new stake in shares of Redfin Corporation during the 3rd quarter valued at about $139,000. Wells Fargo & Company MN bought a new stake in shares of Redfin Corporation during the 3rd quarter valued at about $158,000. FNY Partners Fund LP bought a new stake in shares of Redfin Corporation during the 3rd quarter valued at about $175,000. Finally, American International Group Inc. bought a new stake in shares of Redfin Corporation during the 3rd quarter valued at about $181,000. Institutional investors and hedge funds own 1.50% of the company’s stock.

About Redfin Corporation

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.

Analyst Recommendations for Redfin Corporation (NASDAQ:RDFN)

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