Redfin Corp (RDFN) Receiving Somewhat Positive Media Coverage, Report Finds
Press coverage about Redfin Corp (NASDAQ:RDFN) has trended somewhat positive on Monday, according to Accern. The research group identifies negative and positive media coverage by analyzing more than 20 million blog and news sources. Accern ranks coverage of companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Redfin Corp earned a daily sentiment score of 0.14 on Accern’s scale. Accern also assigned news headlines about the company an impact score of 47.1371368278043 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the near future.
These are some of the headlines that may have impacted Accern Sentiment Analysis’s analysis:
- Redfin rebounds after first earnings report since IPO (marketwatch.com)
- Redfin Second-Quarter 2017 Revenue up 35% Year-over-Year to $104.9 Million (finance.yahoo.com)
- Redfin in line with Street expectations (finance.yahoo.com)
- REDFIN CORP (RDFN) Issues Quarterly Earnings Results (americanbankingnews.com)
- Here’s the Advice Redfin’s CEO has For Entrepreneurs (finance.yahoo.com)
RDFN has been the topic of several recent analyst reports. Stifel Nicolaus initiated coverage on shares of Redfin Corp in a research note on Tuesday, August 22nd. They set a “hold” rating and a $24.00 price objective on the stock. Bank of America Corporation reissued a “neutral” rating and set a $28.00 price objective on shares of Redfin Corp in a research note on Tuesday, August 22nd. Goldman Sachs Group, Inc. (The) initiated coverage on shares of Redfin Corp in a research note on Tuesday, August 22nd. They set a “neutral” rating and a $20.00 price objective on the stock. CIBC initiated coverage on shares of Redfin Corp in a research note on Tuesday, August 22nd. They set an “outperform” rating and a $31.00 price objective on the stock. Finally, Oppenheimer Holdings, Inc. initiated coverage on shares of Redfin Corp in a research note on Tuesday, August 22nd. They set an “outperform” rating and a $31.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $27.00.
Redfin Corp (NASDAQ RDFN) opened at 24.10 on Monday. Redfin Corp has a 52 week low of $19.29 and a 52 week high of $33.49. The company’s 50 day moving average is $25.50 and its 200 day moving average is $24.63. The stock’s market cap is $1.70 billion.
Redfin Corp (NASDAQ:RDFN) last released its earnings results on Thursday, September 7th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.01. The firm had revenue of $104.90 million during the quarter, compared to analysts’ expectations of $104.78 million. Redfin Corp’s quarterly revenue was up 35.0% compared to the same quarter last year. Equities analysts predict that Redfin Corp will post ($0.17) earnings per share for the current year.
In other news, major shareholder Tiger Global Management Llc bought 260,000 shares of the company’s stock in a transaction dated Friday, July 28th. The shares were acquired at an average cost of $15.00 per share, with a total value of $3,900,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
About Redfin Corp
Redfin Corporation is engaged in providing residential real estate brokerage services. The customer can search for homes by neighborhood, city or MLS number, or can refine results using detailed parameters, such as price and number of beds or baths. The Company serves home buyers and sellers. The Company offers online tools to consumers, including Redfin Estimate, which is an automated home-valuation tool.
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