Redfin (NASDAQ:RDFN) Price Target Raised to $7.25

Redfin (NASDAQ:RDFN) had its price target hoisted by analysts at DA Davidson from $6.75 to $7.25 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. DA Davidson’s target price suggests a potential upside of 16.00% from the stock’s current price.

RDFN has been the subject of a number of other research reports. Stephens upgraded Redfin from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $8.00 to $9.00 in a research note on Wednesday. Needham & Company LLC restated a “hold” rating on shares of Redfin in a research note on Wednesday. Gordon Haskett lowered Redfin from a “hold” rating to an “underperform” rating and set a $5.50 price objective for the company. in a research note on Thursday, February 29th. Wedbush restated a “neutral” rating and set a $8.00 price objective on shares of Redfin in a research note on Wednesday. Finally, Citigroup lowered their price objective on Redfin from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Redfin currently has a consensus rating of “Hold” and an average price target of $8.08.

Redfin Price Performance

RDFN stock opened at $6.25 on Wednesday. The company has a debt-to-equity ratio of 295.91, a quick ratio of 1.66 and a current ratio of 1.66. Redfin has a 1 year low of $4.26 and a 1 year high of $17.68. The firm has a market cap of $746.69 million, a P/E ratio of -5.34 and a beta of 2.68. The stock has a 50-day simple moving average of $6.12 and a 200-day simple moving average of $7.15.

Redfin (NASDAQ:RDFN) last posted its earnings results on Tuesday, May 7th. The company reported ($0.57) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.58) by $0.01. Redfin had a negative return on equity of 1,780.89% and a negative net margin of 11.95%. The business had revenue of $225.50 million during the quarter, compared to analyst estimates of $217.79 million. During the same quarter last year, the firm earned ($0.93) earnings per share. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. On average, equities analysts predict that Redfin will post -1.31 earnings per share for the current fiscal year.

Insider Transactions at Redfin

In other news, insider Anna Stevens sold 10,851 shares of Redfin stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $6.78, for a total value of $73,569.78. Following the completion of the transaction, the insider now owns 15,477 shares in the company, valued at approximately $104,934.06. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Christian John Taubman sold 7,916 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $6.90, for a total value of $54,620.40. Following the sale, the insider now owns 52,117 shares of the company’s stock, valued at approximately $359,607.30. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Anna Stevens sold 10,851 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $6.78, for a total value of $73,569.78. Following the completion of the sale, the insider now directly owns 15,477 shares in the company, valued at approximately $104,934.06. The disclosure for this sale can be found here. Insiders own 5.30% of the company’s stock.

Institutional Trading of Redfin

Several hedge funds have recently made changes to their positions in RDFN. DekaBank Deutsche Girozentrale bought a new stake in Redfin during the 3rd quarter valued at $27,000. Allspring Global Investments Holdings LLC raised its stake in Redfin by 205.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,608 shares of the company’s stock valued at $31,000 after acquiring an additional 3,101 shares in the last quarter. New York State Teachers Retirement System bought a new stake in Redfin during the 1st quarter valued at $66,000. First Trust Direct Indexing L.P. bought a new stake in Redfin during the 1st quarter valued at $72,000. Finally, Sherbrooke Park Advisers LLC bought a new stake in Redfin during the 3rd quarter valued at $82,000. Institutional investors own 61.07% of the company’s stock.

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.