Stock analysts at Jefferies Group began coverage on shares of Redfin (NASDAQ:RDFN) in a research report issued to clients and investors on Tuesday, The Fly reports. The brokerage set a “buy” rating on the stock.
A number of other analysts have also commented on RDFN. BidaskClub lowered Redfin from a “sell” rating to a “strong sell” rating in a report on Saturday. Royal Bank of Canada raised Redfin from a “sector perform” rating to an “outperform” rating and set a $28.00 target price for the company in a report on Friday. They noted that the move was a valuation call. Oppenheimer reduced their target price on Redfin from $31.00 to $27.00 and set an “outperform” rating for the company in a report on Friday, November 10th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $26.00 target price on shares of Redfin in a report on Wednesday, November 1st. Finally, Stephens started coverage on Redfin in a report on Friday, December 1st. They issued an “underweight” rating and a $17.00 target price for the company. Two analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $25.50.
Shares of Redfin (RDFN) opened at $19.66 on Tuesday. Redfin has a twelve month low of $19.29 and a twelve month high of $33.49.
Redfin (NASDAQ:RDFN) last issued its quarterly earnings data on Thursday, November 9th. The company reported $0.12 EPS for the quarter, hitting analysts’ consensus estimates of $0.12. The company had revenue of $109.50 million for the quarter, compared to the consensus estimate of $110.62 million. Redfin’s quarterly revenue was up 35.0% on a year-over-year basis. equities research analysts anticipate that Redfin will post -0.2 EPS for the current year.
A number of institutional investors have recently bought and sold shares of the stock. Hillman Co. purchased a new position in Redfin in the third quarter valued at approximately $31,321,000. Dragoneer Investment Group LLC purchased a new position in Redfin in the third quarter valued at approximately $24,242,000. Baillie Gifford & Co. purchased a new position in Redfin in the third quarter valued at approximately $15,442,000. Sumitomo Mitsui Asset Management Company LTD purchased a new position in Redfin in the fourth quarter valued at approximately $17,883,000. Finally, Sumitomo Mitsui Trust Holdings Inc. purchased a new position in Redfin in the third quarter valued at approximately $9,700,000. Institutional investors and hedge funds own 38.48% of the company’s stock.
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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.
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