BidaskClub upgraded shares of Redfin (NASDAQ:RDFN) from a strong sell rating to a sell rating in a report issued on Friday.
A number of other brokerages have also recently weighed in on RDFN. William Blair reissued an outperform rating on shares of Redfin in a research report on Thursday, February 1st. Oppenheimer reduced their target price on shares of Redfin from $31.00 to $27.00 and set an outperform rating for the company in a report on Friday, November 10th. KeyCorp assumed coverage on shares of Redfin in a report on Tuesday, December 19th. They issued a sector weight rating for the company. Jefferies Group assumed coverage on shares of Redfin in a report on Tuesday, February 6th. They issued a buy rating and a $28.00 target price for the company. Finally, Zacks Investment Research raised shares of Redfin from a hold rating to a buy rating and set a $24.00 target price for the company in a report on Wednesday, November 15th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. Redfin has a consensus rating of Hold and an average target price of $25.73.
Shares of Redfin (NASDAQ:RDFN) opened at $22.08 on Friday. Redfin has a 1 year low of $19.18 and a 1 year high of $33.49.
Redfin (NASDAQ:RDFN) last announced its quarterly earnings results on Thursday, November 9th. The company reported $0.12 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.12. The company had revenue of $109.50 million during the quarter, compared to analysts’ expectations of $110.62 million. Redfin’s revenue was up 35.0% compared to the same quarter last year. research analysts expect that Redfin will post -0.2 earnings per share for the current fiscal year.
Several large investors have recently made changes to their positions in the company. Nationwide Fund Advisors acquired a new position in shares of Redfin during the third quarter worth about $285,000. First Trust Advisors LP acquired a new position in shares of Redfin during the third quarter worth about $1,548,000. Baillie Gifford & Co. acquired a new position in shares of Redfin during the third quarter worth about $15,442,000. Advisor Group Inc. acquired a new position in shares of Redfin during the third quarter worth about $129,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Redfin during the third quarter worth about $832,000. 38.45% of the stock is owned by institutional investors and hedge funds.
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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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