Analysts have set a price target for Redfin Co. (NASDAQ:RDFN) at $7.18

Shares of Redfin Co. (NASDAQ: RDFN – Get Your Free Report ) has earned an average rating of “Reduce” from the eleven analysts that are presently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and one has given a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $7.18.

RDFN has been the subject of several research analyst reports. Susquehanna cut their price target on Redfin from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Citigroup cut their price target on Redfin from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 8th. Wedbush reissued a “neutral” rating and set a $8.00 target price on shares of Redfin in a research note on Wednesday, August 7th. Needham & Company LLC reissued a “hold” rating on shares of Redfin in a research note on Wednesday, August 7th. Finally, JPMorgan Chase & Co. decreased their price objective on Redfin from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th.

Get the latest stock report on Redfin

Redfin Price Performance

Shares of RDFN stock opened at $7.46 on Friday. Redfin has a 12-month low of $4.26 and a 12-month high of $11.16. The stock’s 50-day moving average is $6.92, and its two-hundred-day moving average is $6.71. The firm has a market cap of $908.40 million, a PE ratio of -6.27 and a beta of 2.65. The company has a current ratio of 1.48, a quick ratio of 1.48, and a debt-to-equity ratio of 295.91.

Redfin (NASDAQ:RDFN – Get Free Report ) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.23) EPS for the quarter, topping the consensus estimate of ($0.26) by $0.03. The business had revenue of $295.20 million for the quarter, compared to analyst estimates of $291.59 million. Redfin had a negative return on equity of 1,780.89% and a negative net margin of 13.55%. The company’s quarterly revenue was up 7.2% year over year. In the same quarter last year, the company earned ($0.25) EPS. research analysts anticipate that Redfin will post -1.14 earnings per share for the current year.

Insider buying and selling at Redfin

In other Redfin news, insider Christian John Taubman sold 3,632 shares of the company’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $6.96, for a total value of $25,278.72. Following the completion of the transaction, the insider now directly owns 57,274 shares in the company, valued at approximately $398,627.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.40% of shares are currently owned by insiders.

Institutional inputs and outputs

Several large investors have recently made changes to their positions in RDFN. Mather Group LLC. grew its position in shares of Redfin by 282.1% in the second quarter. Mather Group LLC. now owns 3,821 shares of the company’s stock worth $25,000 after buying an additional 2,821 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of Redfin by 205.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 4,608 shares of the company’s stock worth $31,000 after buying an additional 3,101 shares during the period. EntryPoint Capital LLC purchased a new position in shares of Redfin in the first quarter worth $58,000. New York State Teachers Retirement System acquired a new position in shares of Redfin in the first quarter worth $66,000. Finally, First Trust Direct Indexing LP purchased a new position in shares of Redfin in the first quarter worth $72,000. 61.07% of the shares are held by hedge funds and other institutional investors.

About Redfin

(Get a free report

Redfin Corporation operates as a residential real estate brokerage in the United States and Canada. The company operates an online real estate marketplace and provides real estate services, including assisting individuals in buying or selling a home. It also offers title and settlement services; and initiates and sells mortgage loans.

Further reading

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