Redfin (NASDAQ:RDFN – Get Rating)The stock was given a “neutral” rating by equity analysts at Compass Point in a research report published Tuesday, Stock Target Advisor reports. They currently have a price target of $8.50 on the stock. Compass Point’s price target would suggest a potential upside of 1.31% from the stock’s current price.
Several other research firms have also commented on RDFN. Piper Sandler lowered her price target on Redfin from $11.00 to $10.00 in a research note on Friday, May 6th. Truist Financial lowered its price target on Redfin from $42.00 to $31.00 in a research note on Friday, May 6. Susquehanna lowered her price target on Redfin from $25.00 to $13.00 in a report on Monday, May 9th. Goldman Sachs Group lowered its price target on Redfin to $17.50 from $20.00 and gave the company a “neutral” rating in a report Tuesday, April 19. Finally, Susquehanna Bancshares lowered its price target on Redfin from $25.00 to $13.00 in a report on Monday, May 9th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $29.77.
NASDAQ:RDFN rose $0.60 during trading hours on Tuesday to hit $8.39. 58,941 shares of the stock were exchanged compared to an average volume of 3,088,085. Redfin has a 12-month low of $7.13 and a 12-month high of $65.41. The company has a debt to equity ratio of 5.26, a current ratio of 3.66 and a quick ratio of 2.84. The company has a 50-day moving average of $11.13 and a 200-day moving average of $22.14. The stock has a market cap of $899.16 million, a P/E of -5.18 and a beta of 2.00.
Redfin (NASDAQ:RDFN – Get Rating) last issued its quarterly earnings data on Thursday, May 5th. The company reported earnings per share of ($0.86) for the quarter, beating the consensus estimate of ($1.09) by $0.23. The company had revenue of $597.30 million for the quarter, compared to analysts’ expectations of $553.97 million. Redfin had a negative return on equity of 53.87% and a negative net margin of 7.31%. The company’s quarterly revenue increased 122.6% compared to the same quarter last year. In the same quarter last year, the company earned ($0.37) EPS. Equity analysts expect Redfin to report year-to-date EPS of -2.12.
Also, director Bradley E. Singer acquired 50,000 shares of the company in a transaction dated Monday, May 9. The stock was purchased at an average price of $11.20 per share for a total transaction of $560,000.00. Following the acquisition, the director now owns 50,000 shares of the company, valued at $560,000. The transaction was disclosed in a document filed with the SEC, which can be accessed at this hyperlink. Also, CEO Glenn Kelman sold 15,000 shares of the company’s stock in a transaction on Monday, May 16. The stock sold at an average price of $10.68 for a total value of $160,200.00. Upon completion of the transaction, the Chief Executive Officer now owns 1,256,502 shares of the Company, valued at $13,419,441.36. The disclosure for this sale can be found here. Insiders sold a total of 39,000 shares of the company’s shares for $418,695 last quarter. Company insiders own 6.10% of the company’s shares.
Hedge funds have recently changed their stock holdings. ETF Managers Group LLC acquired a new stake in Redfin valued at approximately $62,000 during the fourth quarter. First Mercantile Trust Co. acquired a new interest in Redfin valued at approximately $71,000 during the third quarter. Focused Wealth Management Inc increased its stake in Redfin by 566.7% in the fourth quarter. Focused Wealth Management Inc now owns 2,000 shares of the company, valued at $77,000, having bought an additional 1,700 shares during this period. Meeder Asset Management Inc. bought a new position in Redfin stock worth about $83,000 during the first quarter. Finally, Point72 Hong Kong Ltd bought a new position in shares of Redfin worth approximately $162,000 during Q4. Institutional investors own 97.94% of the company’s shares.
About Redfin (received rating)
Redfin Corporation operates as a residential real estate brokerage firm in the United States and Canada. The Company operates an online real estate marketplace and offers real estate services, including assisting individuals in buying or selling their homes. It also offers title and settlement services; issues and sells mortgages; and buys and sells houses.
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