Redfin (NASDAQ:RDFN) had its target price upped by Bank of America from $22.00 to $26.00 in a research note published on Thursday morning, Stock Target Advisor reports. The brokerage currently has a neutral rating on the stock.

RDFN has been the subject of a number of other research reports. Wedbush upped their price objective on Redfin from $28.00 to $31.00 and gave the stock an outperform rating in a research note on Thursday. Zelman & Associates raised Redfin from a hold rating to a buy rating in a research note on Thursday, November 7th. Oppenheimer upped their price objective on Redfin from $24.00 to $31.00 and gave the stock an outperform rating in a research note on Thursday. SunTrust Banks boosted their target price on Redfin to $30.00 and gave the stock a positive rating in a research report on Thursday. Finally, Stephens boosted their target price on Redfin from $30.00 to $33.00 and gave the stock an overweight rating in a research report on Thursday. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $26.13.

Shares of NASDAQ RDFN traded up $1.12 during mid-day trading on Thursday, reaching $31.23. The company’s stock had a trading volume of 3,931,270 shares, compared to its average volume of 1,390,043. The firm has a market capitalization of $2.78 billion, a PE ratio of -32.87 and a beta of 1.41. The company has a debt-to-equity ratio of 0.52, a current ratio of 4.81 and a quick ratio of 3.68. The stock has a fifty day moving average of $23.52 and a two-hundred day moving average of $19.68. Redfin has a 52 week low of $14.70 and a 52 week high of $31.50.

Redfin (NASDAQ:RDFN) last released its quarterly earnings data on Wednesday, February 12th. The company reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.04. The firm had revenue of $233.20 million during the quarter, compared to analyst estimates of $217.17 million. Redfin had a negative return on equity of 25.71% and a negative net margin of 12.71%. The business’s quarterly revenue was up 87.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.14) earnings per share. Analysts anticipate that Redfin will post -0.92 EPS for the current fiscal year.

In other Redfin news, insider Adam Wiener sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $23.20, for a total transaction of $580,000.00. Following the sale, the insider now directly owns 197,842 shares in the company, valued at $4,589,934.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Christopher John Nielsen sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $24.59, for a total value of $73,770.00. Following the sale, the chief financial officer now owns 11,306 shares in the company, valued at $278,014.54. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 148,000 shares of company stock worth $3,129,600. Company insiders own 8.20% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of RDFN. Tower Research Capital LLC TRC purchased a new stake in shares of Redfin in the third quarter worth approximately $25,000. Nisa Investment Advisors LLC purchased a new stake in shares of Redfin in the third quarter worth approximately $25,000. Usca Ria LLC purchased a new stake in shares of Redfin in the third quarter worth approximately $51,000. NumerixS Investment Technologies Inc raised its holdings in shares of Redfin by 119.1% in the fourth quarter. NumerixS Investment Technologies Inc now owns 2,410 shares of the company’s stock worth $51,000 after buying an additional 1,310 shares during the period. Finally, Benjamin F. Edwards & Company Inc. raised its holdings in shares of Redfin by 28.8% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 3,646 shares of the company’s stock worth $61,000 after buying an additional 815 shares during the period. Hedge funds and other institutional investors own 91.33% of the company’s stock.

Redfin Company Profile

Redfin Corporation operates as a real estate brokerage company in the United States. The company operates an online real estate marketplace and provides real estate services, including assisting individuals in purchase or sell their residential property. It also provides title and settlement services; originates and sells mortgages; and buys and sells residential properties.

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Analyst Recommendations for Redfin (NASDAQ:RDFN)

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