Redfin (NASDAQ:RDFN) has been assigned a $21.00 price target by research analysts at Cowen in a research note issued to investors on Friday. The brokerage presently has a “buy” rating on the stock. Cowen’s target price indicates a potential upside of 39.44% from the stock’s previous close.
Several other equities analysts have also recently issued reports on RDFN. Zacks Investment Research cut Redfin from a “hold” rating to a “sell” rating in a research report on Tuesday, October 23rd. William Blair cut Redfin from an “outperform” rating to a “market perform” rating in a research report on Friday. Stifel Nicolaus dropped their target price on Redfin from $25.00 to $20.00 and set a “hold” rating on the stock in a research report on Friday, August 10th. BidaskClub cut Redfin from a “buy” rating to a “hold” rating in a report on Tuesday, August 7th. Finally, DA Davidson cut Redfin from a “buy” rating to a “hold” rating and set a $22.00 price target on the stock. in a report on Friday, August 10th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $22.90.
NASDAQ RDFN opened at $15.06 on Friday. Redfin has a 12-month low of $13.50 and a 12-month high of $31.50.
Redfin (NASDAQ:RDFN) last released its earnings results on Thursday, November 8th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.02. Redfin had a negative return on equity of 14.12% and a negative net margin of 6.88%. The company had revenue of $140.30 million for the quarter, compared to analysts’ expectations of $139.45 million. During the same quarter in the previous year, the firm posted $0.12 EPS. The firm’s quarterly revenue was up 28.1% on a year-over-year basis. On average, equities analysts anticipate that Redfin will post -0.43 earnings per share for the current year.
In related news, insider Scott Nagel sold 6,250 shares of the company’s stock in a transaction that occurred on Friday, October 26th. The stock was sold at an average price of $16.44, for a total value of $102,750.00. Following the sale, the insider now owns 14,583 shares in the company, valued at approximately $239,744.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Christopher John Nielsen sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 15th. The stock was sold at an average price of $17.80, for a total value of $178,000.00. Following the completion of the sale, the chief financial officer now owns 10,000 shares in the company, valued at approximately $178,000. The disclosure for this sale can be found here. In the last 90 days, insiders sold 57,290 shares of company stock worth $1,005,361. Insiders own 8.80% of the company’s stock.
Large investors have recently made changes to their positions in the business. Great West Life Assurance Co. Can acquired a new stake in Redfin during the 2nd quarter valued at $106,000. Public Employees Retirement Association of Colorado acquired a new stake in Redfin during the 3rd quarter valued at $139,000. Caption Management LLC acquired a new stake in Redfin during the 2nd quarter valued at $191,000. Perkins Coie Trust Co grew its holdings in Redfin by 52.4% during the 2nd quarter. Perkins Coie Trust Co now owns 8,648 shares of the company’s stock valued at $200,000 after buying an additional 2,972 shares during the last quarter. Finally, Teacher Retirement System of Texas acquired a new stake in Redfin during the 2nd quarter valued at $211,000. Hedge funds and other institutional investors own 78.16% of the company’s stock.
Redfin Corporation operates as a real estate brokerage company in the United States. The company operates 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; originates and sells mortgages; and buys and sells residential properties.
See Also: What is a Market Correction?
Receive News & Ratings for Redfin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Redfin and related companies with MarketBeat.com's FREE daily email newsletter.