Brokerages Set Redfin Co. (NASDAQ:RDFN) Price Target at $7.92

Redfin Co. (NASDAQ:RDFN) has received an average recommendation of “Reduce” from the ten ratings firms that are presently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $7.92.

A number of equities analysts have weighed in on RDFN shares. Royal Bank of Canada reduced their price objective on shares of Redfin from $10.00 to $9.00 and set a “sector perform” rating for the company in a research report on Wednesday, February 28th. DA Davidson restated a “neutral” rating and set a $6.75 price objective on shares of Redfin in a research report on Friday, March 22nd. Citigroup reduced their price objective on shares of Redfin from $10.50 to $8.00 and set a “neutral” rating for the company in a research report on Thursday, February 29th. Wedbush reaffirmed a “neutral” rating and set a $8.00 target price on shares of Redfin in a report on Wednesday, February 28th. Finally, Gordon Haskett lowered shares of Redfin from a “hold” rating to an “underperform” rating and set a $5.50 target price for the company. in a report on Thursday, February 29th.

Insider Activity at Redfin

In related news, insider Christian John Taubman sold 7,916 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $6.90, for a total value of $54,620.40. Following the completion of the sale, the insider now owns 52,117 shares of the company’s stock, valued at $359,607.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Anna Stevens sold 10,851 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were 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 owns 15,477 shares of the company’s stock, valued at $104,934.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Christian John Taubman sold 7,916 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $6.90, for a total transaction of $54,620.40. Following the completion of the sale, the insider now directly owns 52,117 shares of the company’s stock, valued at approximately $359,607.30. The disclosure for this sale can be found here. 5.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. DekaBank Deutsche Girozentrale acquired a new stake in shares of Redfin during the third quarter valued at about $27,000. DHJJ Financial Advisors Ltd. acquired a new stake in shares of Redfin during the third quarter valued at about $28,000. Point72 Middle East FZE acquired a new stake in shares of Redfin during the fourth quarter valued at about $41,000. Garner Asset Management Corp acquired a new stake in shares of Redfin during the fourth quarter valued at about $59,000. Finally, Guggenheim Capital LLC acquired a new stake in shares of Redfin during the third quarter valued at about $60,000. Hedge funds and other institutional investors own 61.07% of the company’s stock.

Redfin Stock Performance

RDFN opened at $5.74 on Friday. The company has a debt-to-equity ratio of 295.91, a current ratio of 1.66 and a quick ratio of 1.66. The firm has a fifty day moving average price of $6.72 and a 200 day moving average price of $7.23. The stock has a market cap of $684.45 million, a P/E ratio of -4.91 and a beta of 2.66. Redfin has a 1 year low of $4.26 and a 1 year high of $17.68.

Redfin (NASDAQ:RDFN) last posted its quarterly earnings data on Tuesday, February 27th. The company reported ($0.20) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.01. The company had revenue of $218.08 million during the quarter, compared to analysts’ expectations of $220.32 million. Redfin had a negative net margin of 11.95% and a negative return on equity of 1,780.89%. The firm’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same period in the prior year, the business posted ($0.83) earnings per share. Equities research analysts anticipate that Redfin will post -1.31 earnings per share for the current year.

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.