DA Davidson Reiterates Neutral Rating for Redfin (NASDAQ:RDFN)

DA Davidson reaffirmed their neutral rating on shares of Redfin (NASDAQ:RDFN) in a research report sent to investors on Tuesday morning,Benzinga reports. The firm currently has a $7.25 target price on the stock.

A number of other equities research analysts also recently issued reports on the company. JPMorgan Chase & Co. increased their price objective on Redfin from $7.00 to $8.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 12th. Needham & Company LLC reissued a “hold” rating on shares of Redfin in a research note on Wednesday, August 7th. Susquehanna increased their target price on Redfin from $7.00 to $10.00 and gave the company a “neutral” rating in a research note on Monday, November 11th. B. Riley increased their target price on Redfin from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Finally, The Goldman Sachs Group cut Redfin from a “neutral” rating to a “sell” rating and increased their target price for the company from $6.00 to $6.50 in a research note on Monday. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Redfin presently has a consensus rating of “Hold” and an average target price of $8.98.

Redfin Stock Performance

Shares of RDFN stock opened at $8.12 on Tuesday. Redfin has a 52-week low of $5.10 and a 52-week high of $15.29. The company has a market capitalization of $1.01 billion, a PE ratio of -6.34 and a beta of 2.70. The business’s fifty day moving average is $11.01 and its 200 day moving average is $8.69.

Redfin (NASDAQ:RDFN) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.08). The company had revenue of $278.02 million during the quarter, compared to the consensus estimate of $280.21 million. During the same quarter in the previous year, the business earned ($0.17) EPS. On average, sell-side analysts forecast that Redfin will post -1.23 EPS for the current fiscal year.

Institutional Trading of Redfin

Several large investors have recently modified their holdings of the business. Geode Capital Management LLC grew its stake in shares of Redfin by 2.2% in the third quarter. Geode Capital Management LLC now owns 3,022,948 shares of the company’s stock worth $37,884,000 after purchasing an additional 66,018 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in Redfin in the third quarter worth about $174,000. XTX Topco Ltd purchased a new stake in Redfin in the third quarter worth about $455,000. Zacks Investment Management purchased a new stake in Redfin in the third quarter worth about $2,108,000. Finally, Two Sigma Advisers LP lifted its holdings in Redfin by 124.9% in the third quarter. Two Sigma Advisers LP now owns 2,149,900 shares of the company’s stock worth $26,938,000 after buying an additional 1,193,900 shares during the period. 61.07% of the stock is owned by institutional investors.

About Redfin

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.