Redfin Corporation (RDFN) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Redfin Corporation (NASDAQ:RDFN) have received a consensus recommendation of “Hold” from the ten ratings firms that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $24.43.

A number of equities research analysts have recently commented on the company. Oppenheimer assumed coverage on Redfin in a research report on Tuesday, August 22nd. They set an “outperform” rating and a $31.00 target price on the stock. Bank of America restated a “neutral” rating and set a $28.00 target price on shares of Redfin in a research report on Tuesday, August 22nd. Stifel Nicolaus assumed coverage on Redfin in a research report on Tuesday, August 22nd. They set a “hold” rating and a $24.00 target price on the stock. Royal Bank Of Canada assumed coverage on Redfin in a research report on Tuesday, August 22nd. They set a “sector perform” rating and a $28.00 target price on the stock. Finally, Goldman Sachs Group assumed coverage on shares of Redfin in a research note on Tuesday, August 22nd. They issued a “neutral” rating and a $20.00 price target on the stock.

Redfin (RDFN) traded up $0.04 during trading hours on Thursday, hitting $24.73. The stock had a trading volume of 1,217,691 shares, compared to its average volume of 1,050,082. Redfin has a 52-week low of $19.29 and a 52-week high of $33.49.

Redfin (NASDAQ:RDFN) last posted its earnings results on Thursday, November 9th. The company reported $0.12 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.12. The business had revenue of $109.50 million for the quarter, compared to analyst estimates of $110.62 million. The business’s revenue was up 35.0% on a year-over-year basis. analysts predict that Redfin will post -0.2 earnings per share for the current fiscal year.

Institutional investors have recently modified their holdings of the stock. Advisor Group Inc. purchased a new position in Redfin in the 3rd quarter valued at about $129,000. SG Americas Securities LLC purchased a new position in Redfin in the 3rd quarter valued at about $139,000. Wells Fargo & Company MN purchased a new position in Redfin in the 3rd quarter valued at about $158,000. FNY Partners Fund LP purchased a new position in Redfin in the 3rd quarter valued at about $175,000. Finally, American International Group Inc. purchased a new position in Redfin in the 3rd quarter valued at about $181,000. 37.88% of the stock is currently owned by hedge funds and other institutional investors.

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Redfin Company Profile

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 (NASDAQ:RDFN)

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