Redfin (NASDAQ:RDFN) Rating Reiterated by DA Davidson

Redfin (NASDAQ:RDFN)‘s stock had its “neutral” rating restated by investment analysts at DA Davidson in a research report issued on Wednesday, Benzinga reports. They presently have a $7.25 target price on the stock. DA Davidson’s price objective would suggest a potential upside of 22.88% from the stock’s previous close.

Other equities research analysts have also issued reports about the company. Needham & Company LLC reissued a “hold” rating on shares of Redfin in a research note on Thursday, May 16th. Wedbush reaffirmed a “neutral” rating and issued a $8.00 target price on shares of Redfin in a research report on Wednesday, May 8th. Stephens raised Redfin from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $8.00 to $9.00 in a research report on Wednesday, May 8th. Susquehanna raised their target price on Redfin from $7.00 to $8.00 and gave the stock a “neutral” rating in a research report on Monday, May 13th. Finally, Citigroup decreased their target price on Redfin from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Wednesday, May 8th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $8.08.

Redfin Price Performance

Shares of RDFN traded up $0.26 during trading hours on Wednesday, hitting $5.90. 1,486,993 shares of the company were exchanged, compared to its average volume of 4,886,517. The company has a market capitalization of $704.87 million, a PE ratio of -4.94 and a beta of 2.66. The company has a debt-to-equity ratio of 295.91, a current ratio of 1.33 and a quick ratio of 1.33. The firm has a fifty day simple moving average of $6.34 and a 200-day simple moving average of $7.13. Redfin has a one year low of $4.26 and a one year high of $17.68.

Redfin (NASDAQ:RDFN) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($0.57) earnings per share for the quarter, topping the consensus estimate of ($0.58) by $0.01. The business had revenue of $225.50 million during the quarter, compared to analyst estimates of $217.79 million. Redfin had a negative return on equity of 1,780.89% and a negative net margin of 13.76%. The company’s revenue was up 5.3% compared to the same quarter last year. During the same period last year, the company posted ($0.93) EPS. As a group, sell-side analysts predict that Redfin will post -1.11 earnings per share for the current year.

Insider Buying and Selling at Redfin

In other Redfin news, insider Christian John Taubman sold 3,632 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $6.96, for a total transaction of $25,278.72. Following the transaction, the insider now directly owns 57,274 shares in the company, valued at $398,627.04. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 4.40% of the company’s stock.

Hedge Funds Weigh In On Redfin

A number of institutional investors have recently made changes to their positions in RDFN. Vanguard Group Inc. grew its position in Redfin by 11.3% during the first quarter. Vanguard Group Inc. now owns 19,191,434 shares of the company’s stock worth $127,623,000 after buying an additional 1,953,127 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its position in Redfin by 25.8% during the first quarter. Jacobs Levy Equity Management Inc. now owns 2,173,004 shares of the company’s stock worth $14,450,000 after buying an additional 445,486 shares in the last quarter. Federated Hermes Inc. grew its position in Redfin by 2.4% during the fourth quarter. Federated Hermes Inc. now owns 1,497,912 shares of the company’s stock worth $15,458,000 after buying an additional 35,735 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Redfin by 3.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 885,705 shares of the company’s stock worth $9,140,000 after buying an additional 29,618 shares in the last quarter. Finally, Trexquant Investment LP grew its position in Redfin by 208.8% during the fourth quarter. Trexquant Investment LP now owns 617,880 shares of the company’s stock worth $6,377,000 after buying an additional 417,811 shares in the last quarter. 61.07% of the stock is currently owned by institutional investors.

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.