SunTrust Banks reissued their buy rating on shares of Redfin (NASDAQ:RDFN) in a research note published on Tuesday, AnalystRatings.com reports. The brokerage currently has a $25.00 target price on the stock. SunTrust Banks also issued estimates for Redfin’s FY2024 earnings at $0.47 EPS.

Several other brokerages have also weighed in on RDFN. Wedbush reaffirmed an outperform rating and set a $26.00 target price on shares of Redfin in a research note on Thursday, January 16th. BidaskClub raised shares of Redfin from a buy rating to a strong-buy rating in a research note on Friday, January 24th. Zacks Investment Research raised shares of Redfin from a hold rating to a buy rating and set a $24.00 target price for the company in a research note on Wednesday, January 8th. Stephens reaffirmed an overweight rating and set a $30.00 target price (up previously from $25.00) on shares of Redfin in a research note on Monday, January 27th. Finally, DA Davidson raised shares of Redfin from a neutral rating to a buy rating and increased their target price for the stock from $18.50 to $25.00 in a research note on Tuesday, December 10th. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $26.13.

Shares of RDFN stock opened at $30.11 on Tuesday. 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 firm has a market cap of $2.28 billion, a PE ratio of -31.69 and a beta of 1.41. The company has a 50-day moving average of $23.52 and a two-hundred day moving average of $19.68. Redfin has a 1-year low of $14.70 and a 1-year high of $30.45.

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

In other news, insider Adam Wiener sold 10,000 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $20.95, for a total transaction of $209,500.00. Also, CTO Bridget Frey sold 6,000 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $19.21, for a total transaction of $115,260.00. Following the sale, the chief technology officer now directly owns 71,734 shares in the company, valued at approximately $1,378,010.14. The disclosure for this sale can be found here. Insiders have sold 148,000 shares of company stock worth $3,129,600 in the last three months. Corporate insiders own 8.20% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. 361 Capital LLC purchased a new stake in Redfin in the 4th quarter valued at about $1,411,000. Amalgamated Bank grew its holdings in Redfin by 5.9% in the 4th quarter. Amalgamated Bank now owns 16,466 shares of the company’s stock valued at $348,000 after buying an additional 923 shares during the period. Jackson Square Partners LLC grew its holdings in Redfin by 1.9% in the 4th quarter. Jackson Square Partners LLC now owns 7,057,900 shares of the company’s stock valued at $149,204,000 after buying an additional 128,347 shares during the period. Renaissance Technologies LLC purchased a new stake in Redfin in the 4th quarter valued at about $3,091,000. Finally, Trexquant Investment LP purchased a new stake in Redfin in the 4th quarter valued at about $417,000. 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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