Redfin Corporation (NASDAQ:RDFN) Receives Average Rating of "Hold" from Brokerages

Shares of Redfin Corporation (NASDAQ:RDFN - Get Free Report) have been assigned a consensus rating of "Hold" from the fourteen brokerages that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, eleven have assigned a hold recommendation, one has issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $10.45.

Several analysts recently weighed in on RDFN shares. Citigroup increased their price target on Redfin from $7.30 to $9.20 and gave the company a "neutral" rating in a report on Thursday, May 8th. JPMorgan Chase & Co. upped their price objective on Redfin from $7.00 to $12.50 and gave the company a "neutral" rating in a research report on Monday, March 24th. Royal Bank Of Canada upped their price objective on Redfin from $8.00 to $12.50 and gave the company a "sector perform" rating in a research report on Tuesday, April 15th. Benchmark reaffirmed a "mixed" rating on shares of Redfin in a research report on Monday, May 19th. Finally, Stephens cut their price objective on Redfin from $12.50 to $11.00 and set an "overweight" rating on the stock in a research report on Thursday, May 8th.

Institutional Investors Weigh In On Redfin

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RDFN. Proficio Capital Partners LLC purchased a new stake in Redfin in the fourth quarter valued at about $276,000. US Bancorp DE raised its stake in shares of Redfin by 48.3% in the fourth quarter. US Bancorp DE now owns 5,522 shares of the company's stock worth $43,000 after purchasing an additional 1,799 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Redfin by 2.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,021,905 shares of the company's stock worth $8,042,000 after purchasing an additional 23,621 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Redfin in the fourth quarter worth about $83,000. Finally, AlphaQuest LLC raised its stake in shares of Redfin by 87.8% in the fourth quarter. AlphaQuest LLC now owns 7,086 shares of the company's stock worth $56,000 after purchasing an additional 3,312 shares during the last quarter. 61.07% of the stock is currently owned by hedge funds and other institutional investors.

Redfin Stock Performance

Shares of RDFN remained flat at $11.19 during mid-day trading on Monday. The stock had a trading volume of 33,889 shares, compared to its average volume of 6,866,237. The stock has a market cap of $1.43 billion, a P/E ratio of -7.31 and a beta of 2.38. Redfin has a twelve month low of $5.59 and a twelve month high of $15.29. The stock has a 50-day simple moving average of $10.37 and a 200-day simple moving average of $9.23.

Redfin (NASDAQ:RDFN - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported ($0.73) earnings per share for the quarter, missing the consensus estimate of ($0.69) by ($0.04). The company had revenue of $221.03 million during the quarter, compared to the consensus estimate of $220.89 million. During the same quarter in the previous year, the firm earned ($0.57) EPS. The business's revenue for the quarter was down 2.0% compared to the same quarter last year. On average, analysts predict that Redfin will post -1.25 EPS for the current fiscal year.

About Redfin

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.