Redfin Corporation’s (RDFN) Hold Rating Reaffirmed at Royal Bank Of Canada
Royal Bank Of Canada reissued their hold rating on shares of Redfin Corporation (NASDAQ:RDFN) in a research report sent to investors on Thursday. Royal Bank Of Canada currently has a $28.00 price target on the stock.
A number of other analysts have also weighed in on the company. Zacks Investment Research lowered Redfin Corporation from a buy rating to a hold rating in a research note on Thursday. Bank of America Corporation lowered their target price on Redfin Corporation from $28.00 to $25.00 and set a neutral rating for the company in a research note on Friday, November 10th. Oppenheimer Holdings, Inc. lowered their target price on Redfin Corporation from $31.00 to $27.00 and set an outperform rating for the company in a research note on Friday, November 10th. Piper Jaffray Companies restated a hold rating and issued a $26.00 target price on shares of Redfin Corporation in a research note on Wednesday, November 1st. Finally, William Blair began coverage on Redfin Corporation in a research report on Thursday, October 19th. They issued an outperform rating for the company. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has an average rating of Hold and an average price target of $25.63.
Shares of Redfin Corporation (NASDAQ:RDFN) opened at $21.12 on Thursday. Redfin Corporation has a 12 month low of $19.29 and a 12 month high of $33.49.
Redfin Corporation (NASDAQ:RDFN) last announced its earnings results on Thursday, November 9th. The company reported $0.12 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.12. The business had revenue of $109.50 million during the quarter, compared to analyst estimates of $110.62 million. The business’s revenue was up 35.0% compared to the same quarter last year. analysts forecast that Redfin Corporation will post -0.2 EPS for the current fiscal year.
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A number of hedge funds have recently made changes to their positions in the stock. Advisor Group Inc. acquired a new stake in Redfin Corporation in the third quarter worth about $129,000. SG Americas Securities LLC acquired a new stake in Redfin Corporation in the third quarter worth about $139,000. Wells Fargo & Company MN acquired a new stake in Redfin Corporation in the third quarter worth about $158,000. FNY Partners Fund LP acquired a new stake in Redfin Corporation in the third quarter worth about $175,000. Finally, American International Group Inc. bought a new position in Redfin Corporation during the third quarter worth about $181,000. Hedge funds and other institutional investors own 14.10% of the company’s stock.
About Redfin Corporation
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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