Redfin - RDFN Stock Forecast, Price & News

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.

Redfin Price Performance

Shares of RDFN Stock opened at $12.76 on Monday. Redfin has a 12-month low of $7.13 and a 12-month high of $56.13. The company has a quick ratio of 1.42, a current ratio of 2.00 and a debt-to-equity ratio of 6.84. The stock's 50-day moving average price is $9.31 and its 200-day moving average price is $14.80.

Redfin (NASDAQ:RDFN - Get Rating) last released its quarterly earnings results on Thursday, August 4th. The company reported ($0.73) EPS for the quarter, missing the consensus estimate of ($0.62) by ($0.11). The company had revenue of $606.92 million during the quarter, compared to analysts' expectations of $611.37 million. Redfin had a negative return on equity of 80.56% and a negative net margin of 9.00%. The company's revenue was up 28.8% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.29) EPS. Analysts expect that Redfin will post -2.78 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. KeyCorp started coverage on Redfin in a report on Tuesday, July 12th. They issued a "sector weight" rating on the stock. Compass Point reissued a "neutral" rating and set a $8.50 price target on shares of Redfin in a report on Tuesday, June 21st. Stifel Nicolaus decreased their price target on Redfin from $10.00 to $9.00 in a report on Monday, August 8th. Truist Financial decreased their price target on Redfin from $31.00 to $18.00 and set a "buy" rating on the stock in a report on Monday, August 1st. Finally, The Goldman Sachs Group decreased their price target on Redfin from $20.00 to $17.50 and set a "neutral" rating on the stock in a report on Tuesday, April 19th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $21.92.

Insider Buying and Selling

In related news, CFO Christopher John Nielsen sold 4,500 shares of Redfin stock in a transaction dated 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 transaction, the chief financial officer now owns 73,786 shares in the company, valued at $601,355.90. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Redfin news, CEO Glenn Kelman sold 15,000 shares of the business's stock in a transaction that occurred on Wednesday, May 18th. The stock was sold at an average price of $10.54, for a total transaction of $158,100.00. Following the completion of the transaction, the chief executive officer now owns 1,226,502 shares in the company, valued at $12,927,331.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Christopher John Nielsen sold 4,500 shares of the 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 disclosure for this sale can be found here. 5.20% of the stock is currently owned by company insiders.