Redfin (NASDAQ:RDFN) Price Target Raised to $9.20

Redfin (NASDAQ:RDFN) had its price target lifted by stock analysts at Citigroup from $7.30 to $9.20 in a research note issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Citigroup’s price objective would suggest a potential upside of 5.50% from the company’s current price.

Several other analysts also recently commented on RDFN. B. Riley downgraded shares of Redfin from a “strong-buy” rating to a “hold” rating in a report on Monday, March 10th. JPMorgan Chase & Co. boosted their target price on Redfin from $7.00 to $12.50 and gave the stock a “neutral” rating in a research note on Monday, March 24th. Piper Sandler raised Redfin from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $4.00 to $12.50 in a research report on Tuesday, March 11th. Gordon Haskett raised Redfin to a “hold” rating in a research report on Monday, March 10th. Finally, Stephens cut their price target on shares of Redfin from $12.50 to $11.00 and set an “overweight” rating on the stock in a report on Thursday. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Redfin currently has an average rating of “Hold” and a consensus target price of $10.45.

Redfin Trading Down 3.8 %

Shares of NASDAQ RDFN opened at $8.72 on Thursday. The firm has a market capitalization of $1.12 billion, a P/E ratio of -6.81 and a beta of 2.50. The firm’s 50-day moving average price is $9.35 and its 200-day moving average price is $8.90. Redfin has a 1-year low of $5.49 and a 1-year high of $15.29.

Redfin (NASDAQ:RDFN) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.69) by ($0.04). The company had revenue of $221.03 million for the quarter, compared to analyst estimates of $220.89 million. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.57) earnings per share. Equities research analysts forecast that Redfin will post -1.25 EPS for the current year.

Insider Buying and Selling

In other Redfin news, insider Christian John Taubman sold 16,209 shares of the company’s stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $11.15, for a total transaction of $180,730.35. Following the transaction, the insider now owns 74,616 shares in the company, valued at approximately $831,968.40. This represents a 17.85 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Cerity Partners LLC boosted its holdings in shares of Redfin by 3.3% in the fourth quarter. Cerity Partners LLC now owns 37,285 shares of the company’s stock worth $293,000 after buying an additional 1,189 shares during the last quarter. Merit Financial Group LLC increased its stake in shares of Redfin by 10.7% in the 4th quarter. Merit Financial Group LLC now owns 15,848 shares of the company’s stock worth $125,000 after purchasing an additional 1,529 shares in the last quarter. US Bancorp DE increased its stake in shares of Redfin by 48.3% in the 4th quarter. US Bancorp DE now owns 5,522 shares of the company’s stock worth $43,000 after purchasing an additional 1,799 shares in the last quarter. Blue Trust Inc. lifted its position in Redfin by 76.3% during the fourth quarter. Blue Trust Inc. now owns 5,822 shares of the company’s stock valued at $46,000 after purchasing an additional 2,520 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Redfin by 4.8% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 67,377 shares of the company’s stock valued at $530,000 after purchasing an additional 3,091 shares during the period. 61.07% of the stock is owned by hedge funds and other institutional investors.

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.