Redfin (NASDAQ:RDFN) Given New $15.00 Price Target at B. Riley

Redfin (NASDAQ:RDFN) had its target price upped by stock analysts at B. Riley from $13.00 to $15.00 in a report issued on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. B. Riley’s target price indicates a potential upside of 21.36% from the company’s previous close.

Several other equities analysts have also issued reports on RDFN. Wedbush restated a “neutral” rating and set a $8.00 price target on shares of Redfin in a research note on Wednesday, August 7th. JPMorgan Chase & Co. cut their target price on Redfin from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. DA Davidson reiterated a “neutral” rating and set a $7.25 price target on shares of Redfin in a research note on Wednesday, July 3rd. Susquehanna dropped their price objective on shares of Redfin from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Redfin in a research report on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Redfin currently has a consensus rating of “Hold” and an average price target of $7.88.

Redfin Stock Down 1.2 %

RDFN opened at $12.36 on Monday. Redfin has a 1-year low of $4.26 and a 1-year high of $15.29. The business has a 50 day moving average of $9.73 and a 200-day moving average of $7.54. The stock has a market capitalization of $1.51 billion, a price-to-earnings ratio of -10.40 and a beta of 2.66. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 295.91.

Redfin (NASDAQ:RDFN) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.23) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.03. Redfin had a negative net margin of 13.55% and a negative return on equity of 1,780.89%. The firm had revenue of $295.20 million during the quarter, compared to the consensus estimate of $291.59 million. During the same period in the prior year, the firm earned ($0.25) EPS. The business’s revenue was up 7.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Redfin will post -1.13 earnings per share for the current year.

Insider Activity at Redfin

In other Redfin news, insider Christian John Taubman sold 3,632 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $9.25, for a total transaction of $33,596.00. Following the sale, the insider now directly owns 71,720 shares of the company’s stock, valued at $663,410. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 4.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Redfin

Institutional investors and hedge funds have recently bought and sold shares of the business. Susquehanna Fundamental Investments LLC bought a new position in shares of Redfin in the first quarter valued at about $298,000. Vanguard Group Inc. raised its stake in shares of Redfin by 11.3% in the first quarter. Vanguard Group Inc. now owns 19,191,434 shares of the company’s stock worth $127,623,000 after acquiring an additional 1,953,127 shares during the last quarter. EntryPoint Capital LLC acquired a new position in shares of Redfin during the first quarter worth approximately $58,000. Jacobs Levy Equity Management Inc. lifted its position in shares of Redfin by 25.8% during the first quarter. Jacobs Levy Equity Management Inc. now owns 2,173,004 shares of the company’s stock worth $14,450,000 after purchasing an additional 445,486 shares in the last quarter. Finally, Natixis grew its stake in shares of Redfin by 119.7% during the first quarter. Natixis now owns 128,500 shares of the company’s stock valued at $855,000 after purchasing an additional 70,000 shares during the last quarter. Institutional investors and hedge funds own 61.07% of the company’s stock.

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.