Redfin (NASDAQ:RDFN) shares gapped down prior to trading on Friday . The stock had previously closed at $24.88, but opened at $23.88. Redfin shares last traded at $22.71, with a volume of 2791501 shares traded.
Several research analysts have recently commented on RDFN shares. BidaskClub downgraded Redfin from a “hold” rating to a “sell” rating in a research note on Thursday, January 25th. Piper Jaffray raised their price objective on Redfin from $24.00 to $29.00 and gave the stock a “neutral” rating in a research note on Monday, January 29th. Royal Bank of Canada raised Redfin from a “sector perform” rating to an “outperform” rating and set a $28.00 price objective on the stock in a research note on Friday, February 2nd. They noted that the move was a valuation call. Zacks Investment Research downgraded Redfin from a “hold” rating to a “sell” rating in a research note on Wednesday, February 28th. Finally, Jefferies Group initiated coverage on Redfin in a research report on Tuesday, February 6th. They set a “buy” rating and a $28.00 target price for the company. Two research analysts have rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company’s stock. Redfin presently has an average rating of “Hold” and an average price target of $25.92.
Redfin (NASDAQ:RDFN) last released its earnings results on Thursday, February 22nd. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.03. The business had revenue of $95.80 million for the quarter, compared to analysts’ expectations of $91.59 million. The company’s quarterly revenue was up 43.4% compared to the same quarter last year. analysts forecast that Redfin will post -0.2 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RDFN. SG Americas Securities LLC purchased a new position in Redfin during the 3rd quarter valued at approximately $139,000. MetLife Investment Advisors LLC purchased a new position in Redfin during the 4th quarter valued at approximately $155,000. Wells Fargo & Company MN purchased a new position in Redfin during the 3rd quarter valued at approximately $158,000. American International Group Inc. purchased a new position in Redfin during the 3rd quarter valued at approximately $181,000. Finally, Needham Investment Management LLC purchased a new position in Redfin during the 4th quarter valued at approximately $224,000. Institutional investors and hedge funds own 52.44% of the company’s stock.
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Redfin Company Profile
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.
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