Redfin Corporation (NASDAQ:RDFN) Given Consensus Rating of "Hold" by Analysts

Shares of Redfin Corporation (NASDAQ:RDFN - Get Free Report) have earned an average recommendation of "Hold" from the fourteen ratings firms that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, eleven have issued a hold recommendation, one has assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $10.45.

RDFN has been the topic of a number of research analyst reports. Benchmark reiterated a "mixed" rating on shares of Redfin in a research note on Monday, May 19th. Citigroup increased their target price on shares of Redfin from $7.30 to $9.20 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. JPMorgan Chase & Co. increased their target price on shares of Redfin from $7.00 to $12.50 and gave the stock a "neutral" rating in a research note on Monday, March 24th. Royal Bank Of Canada raised their price objective on shares of Redfin from $8.00 to $12.50 and gave the company a "sector perform" rating in a research report on Tuesday, April 15th. Finally, B. Riley lowered shares of Redfin from a "strong-buy" rating to a "hold" rating in a report on Monday, March 10th.

Institutional Trading of Redfin

Several institutional investors and hedge funds have recently bought and sold shares of RDFN. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Redfin in the fourth quarter worth about $27,000. Summit Securities Group LLC purchased a new stake in Redfin in the first quarter worth about $28,000. US Bancorp DE lifted its holdings in 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 buying an additional 1,799 shares during the period. FNY Investment Advisers LLC purchased a new stake in Redfin in the first quarter worth about $46,000. Finally, AlphaQuest LLC lifted its holdings in Redfin by 87.8% in the fourth quarter. AlphaQuest LLC now owns 7,086 shares of the company's stock worth $56,000 after buying an additional 3,312 shares during the period. 61.07% of the stock is currently owned by hedge funds and other institutional investors.

Redfin Stock Performance

Shares of NASDAQ:RDFN opened at $11.19 on Monday. The firm has a market cap of $1.43 billion, a PE ratio of -7.31 and a beta of 2.38. The firm's fifty day moving average is $10.22 and its 200-day moving average is $9.16. Redfin has a 52 week low of $5.59 and a 52 week high of $15.29.

Redfin (NASDAQ:RDFN - Get Free Report) last posted 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 business had revenue of $221.03 million for the quarter, compared to analysts' expectations of $220.89 million. During the same period in the prior year, the business posted ($0.57) earnings per share. The company's quarterly revenue was down 2.0% on a year-over-year basis. Sell-side analysts forecast that Redfin will post -1.25 EPS for the current 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.

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