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; originates and sells mortgages; and buys and sells homes. The company was formerly known as Appliance Computing Inc. and changed its name to Redfin Corporation in May 2006. Redfin Corporation was incorporated in 2002 and is headquartered in Seattle, Washington.
Analyst Ratings Changes
A number of research analysts have weighed in on the company. KeyCorp assumed coverage on Redfin in a report on Tuesday, July 12th. They set a "sector weight" rating for the company. Piper Sandler reduced their target price on Redfin from $11.00 to $10.00 in a report on Friday, May 6th. Truist Financial reduced their target price on Redfin from $31.00 to $18.00 and set a "buy" rating for the company in a report on Monday, August 1st. The Goldman Sachs Group reduced their target price on Redfin from $20.00 to $17.50 and set a "neutral" rating for the company in a report on Tuesday, April 19th. Finally, Stifel Nicolaus reduced their target price on Redfin from $10.00 to $9.00 in a report on Monday, August 8th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, Redfin currently has a consensus rating of "Hold" and a consensus target price of $21.92.
Redfin Stock Performance
NASDAQ:RDFN opened at $12.64 on Wednesday. The business has a 50 day moving average of $9.38 and a 200 day moving average of $14.68. The company has a market capitalization of $1.37 billion, a price-to-earnings ratio of -6.14 and a beta of 1.92. Redfin has a 1-year low of $7.13 and a 1-year high of $55.87. The company has a debt-to-equity ratio of 6.84, a current ratio of 2.00 and a quick ratio of 1.42.
Redfin (NASDAQ:RDFN - Get Rating) last released its earnings results on Thursday, August 4th. The company reported ($0.73) earnings per share for the quarter, missing analysts' consensus estimates of ($0.62) by ($0.11). The firm had revenue of $606.92 million during the quarter, compared to the consensus estimate of $611.37 million. Redfin had a negative return on equity of 80.56% and a negative net margin of 9.00%. The business's quarterly revenue was up 28.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.29) EPS. On average, sell-side analysts predict that Redfin will post -2.78 earnings per share for the current fiscal year.
Insider Buying and Selling at Redfin
In other Redfin news, CFO Christopher John Nielsen sold 4,500 shares of the business's stock in a transaction that occurred on Wednesday, June 15th. The stock was sold at an average price of $8.15, for a total value of $36,675.00. Following the completion of the sale, the chief financial officer now owns 73,786 shares in the company, valued at $601,355.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 5.20% of the company's stock.