Redfin (NASDAQ:RDFN) Given New $8.00 Price Target at Susquehanna

Redfin (NASDAQ:RDFN - Free Report) had its target price hoisted by Susquehanna from $7.00 to $8.00 in a report issued on Monday morning, Benzinga reports. Susquehanna currently has a neutral rating on the stock.

Several other research analysts have also weighed in on the stock. Needham & Company LLC reaffirmed a hold rating on shares of Redfin in a research note on Wednesday, May 8th. Gordon Haskett lowered Redfin from a hold rating to an underperform rating and set a $5.50 target price on the stock. in a research report on Thursday, February 29th. Royal Bank of Canada lowered their price target on Redfin from $10.00 to $9.00 and set a sector perform rating for the company in a research report on Wednesday, February 28th. DA Davidson increased their target price on Redfin from $6.75 to $7.25 and gave the stock a neutral rating in a research note on Wednesday, May 8th. Finally, Stephens raised Redfin from an equal weight rating to an overweight rating and lifted their target price for the company from $8.00 to $9.00 in a research report on Wednesday, May 8th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $8.08.

Redfin Trading Up 12.0 %

Shares of NASDAQ RDFN traded up $0.86 during trading on Monday, hitting $8.00. 7,816,474 shares of the company were exchanged, compared to its average volume of 5,248,686. Redfin has a 12-month low of $4.26 and a 12-month high of $17.68. The firm has a market capitalization of $955.76 million, a PE ratio of -6.72 and a beta of 2.68. The company has a fifty day moving average price of $6.15 and a 200-day moving average price of $7.21. The company has a debt-to-equity ratio of 295.91, a quick ratio of 1.33 and a current ratio of 1.33.

Redfin (NASDAQ:RDFN - Get Free Report) last posted its earnings results on Tuesday, May 7th. The company reported ($0.57) earnings per share for the quarter, beating the consensus estimate of ($0.58) by $0.01. Redfin had a negative net margin of 13.76% and a negative return on equity of 1,780.89%. The company had revenue of $225.50 million for the quarter, compared to analyst estimates of $217.79 million. During the same period in the previous year, the business posted ($0.93) EPS. Redfin's revenue was up 5.3% on a year-over-year basis. As a group, equities research analysts expect that Redfin will post -1.14 EPS for the current year.

Insider Activity at Redfin

In related news, insider Anna Stevens sold 10,851 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $6.78, for a total transaction of $73,569.78. Following the completion of the sale, the insider now directly owns 15,477 shares of the company's stock, valued at $104,934.06. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Redfin news, insider Christian John Taubman sold 7,916 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $6.90, for a total value of $54,620.40. Following the completion of the transaction, the insider now owns 52,117 shares in the company, valued at $359,607.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Anna Stevens sold 10,851 shares of the business's stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $6.78, for a total transaction of $73,569.78. Following the sale, the insider now owns 15,477 shares in the company, valued at $104,934.06. The disclosure for this sale can be found here. 5.30% of the stock is currently owned by insiders.

Institutional Trading of Redfin

Institutional investors have recently added to or reduced their stakes in the stock. DekaBank Deutsche Girozentrale acquired a new position in Redfin during the third quarter worth $27,000. 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 valued at $31,000 after purchasing an additional 3,101 shares during the last quarter. New York State Teachers Retirement System purchased a new position in shares of Redfin during the 1st quarter worth approximately $66,000. First Trust Direct Indexing L.P. purchased a new stake in Redfin in the 1st quarter valued at approximately $72,000. Finally, Sherbrooke Park Advisers LLC acquired a new stake in Redfin during the 3rd quarter valued at $82,000. Hedge funds and other institutional investors own 61.07% of the company's stock.

Redfin Company Profile

Redfin Corporation operates as a residential real estate brokerage company in the United States and Canada. The company operates an online real estate marketplace and provides real estate services, including assisting individuals in the purchase or sell of home. It also provides title and settlement services; and originates and sells mortgages.