Redfin (RDFN) Coverage Initiated by Analysts at Jefferies Group

Jefferies Group assumed coverage on shares of Redfin (NASDAQ:RDFN) in a research note published on Tuesday morning, Marketbeat.com reports. The brokerage issued a buy rating and a $28.00 price objective on the stock. Jefferies Group also issued estimates for Redfin’s Q4 2017 earnings at ($0.05) EPS, FY2017 earnings at ($0.22) EPS, Q1 2018 earnings at ($0.32) EPS, Q2 2018 earnings at $0.09 EPS, Q3 2018 earnings at $0.16 EPS, Q4 2018 earnings at ($0.01) EPS, FY2018 earnings at ($0.07) EPS and FY2019 earnings at $0.14 EPS.

Several other research firms also recently weighed in on RDFN. BidaskClub raised Redfin from a hold rating to a buy rating in a report on Saturday, December 30th. William Blair began coverage on Redfin in a report on Thursday, October 19th. They issued an outperform rating for the company. KeyCorp began coverage on Redfin in a report on Tuesday, December 19th. They issued a sector weight rating for the company. Cowen began coverage on Redfin in a report on Friday, December 15th. They issued an outperform rating and a $30.00 target price for the company. Finally, Piper Jaffray Companies reissued a hold rating and issued a $26.00 target price on shares of Redfin in a report on Wednesday, November 1st. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the stock. The company has an average rating of Hold and an average price target of $25.73.

Redfin (NASDAQ RDFN) opened at $22.04 on Tuesday. Redfin has a 1 year low of $19.18 and a 1 year high of $33.49.

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

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Hillman Co. purchased a new stake in Redfin during the 3rd quarter valued at approximately $31,321,000. Dragoneer Investment Group LLC purchased a new stake in Redfin during the 3rd quarter valued at approximately $24,242,000. Baillie Gifford & Co. purchased a new stake in Redfin during the 3rd quarter valued at approximately $15,442,000. Sumitomo Mitsui Asset Management Company LTD purchased a new stake in Redfin during the 4th quarter valued at approximately $17,883,000. Finally, Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in Redfin during the 3rd quarter valued at approximately $9,700,000. 38.48% of the stock is 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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