Redfin Corporation (RDFN) Upgraded by Zacks Investment Research to “Buy”

Redfin Corporation (NASDAQ:RDFN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The brokerage presently has a $24.00 price target on the stock. Zacks Investment Research‘s price target indicates a potential upside of 13.48% 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. “

RDFN has been the subject of several other reports. Stifel Nicolaus began coverage on Redfin Corporation in a research report on Tuesday, August 22nd. They set a “hold” rating and a $24.00 price target for the company. Royal Bank Of Canada reiterated a “hold” rating and set a $28.00 price target on shares of Redfin Corporation in a research report on Friday, November 10th. Oppenheimer Holdings, Inc. began coverage on Redfin Corporation in a research report on Tuesday, August 22nd. They set an “outperform” rating and a $31.00 price target for the company. Piper Jaffray Companies reiterated a “hold” rating and set a $26.00 price target on shares of Redfin Corporation in a research report on Wednesday, November 1st. Finally, Bank of America Corporation cut their price objective on Redfin Corporation from $28.00 to $25.00 and set a “neutral” rating for the company in a research report on Friday, November 10th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $25.63.

Redfin Corporation (RDFN) opened at $21.15 on Wednesday. Redfin Corporation has a 12-month low of $19.29 and a 12-month high of $33.49.

Redfin Corporation (NASDAQ:RDFN) last announced its quarterly earnings results on Thursday, November 9th. The company reported $0.12 earnings per share for the quarter, meeting the consensus estimate of $0.12. The company had revenue of $109.50 million for the quarter, compared to analysts’ expectations of $110.62 million. The company’s quarterly revenue was up 35.0% compared to the same quarter last year. research analysts forecast that Redfin Corporation will post -0.19 EPS for the current year.

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Institutional investors have recently bought and sold shares of the company. Baillie Gifford & Co. purchased a new stake in shares of Redfin Corporation in the third quarter valued at approximately $15,442,000. First Trust Advisors LP purchased a new stake in shares of Redfin Corporation in the third quarter valued at approximately $1,548,000. Nationwide Fund Advisors purchased a new stake in shares of Redfin Corporation in the third quarter valued at approximately $285,000. Wells Fargo & Company MN acquired a new stake in shares of Redfin Corporation in the third quarter worth approximately $158,000. Finally, Zevenbergen Capital Investments LLC acquired a new stake in shares of Redfin Corporation in the third quarter worth approximately $615,000. 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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