Redfin (RDFN) Neutral Rating Upvoted by DA Davidson

DA Davidson maintained a neutral rating on the stock Redfin (NASDAQ:RDFN – Free Report) in a research note issued to investors on Wednesday morning, Benzinga reports. The brokerage currently has a price target on the stock of $7.25.

Several other equities analysts have also recently commented on the stock. Needham & Company LLC re-issued a “hold” rating on shares of Redfin in a research report on Thursday, May 16. Citigroup lowered their price target for Redfin from $8.00 to $7.00 and set a neutral rating for the company in a research report on Wednesday, May 8. Susquehanna increased their price target for Redfin from $7.00 to $8.00 and gave the stock a neutral rating in a research report on Monday, May 13. Stephens raised Redfin from “qual weight” to “overweight” and increased their price target for the company from $8.00 to $9.00 in a report on Wednesday, May 8. Finally, Wedbush re-issued a neutral rating and set a $8.00 price target for shares of Redfin in a report on Wednesday, May 8. Two investment analysts have rated the stock a “sell,” nine have given a “hold” rating, and one has given a “buy” rating. The stock has a consensus rating of “hold” and a consensus price target of $8.08, according to data from MarketBeat.

Read our latest stock analysis on Redfin

Redfin Stock Performance

Redfin stock opened at $5.96 on Wednesday. The company has a debt-to-equity ratio of 295.91, a current ratio of 1.33, and a quick ratio of 1.33. The company has a market capitalization of $712.04 million, a price-to-earnings ratio of -5.01, and a beta of 2.66. The stock’s 50-day moving average is $6.36, and its 200-day moving average is $7.12. The lowest price of Redfin stock in a year was $4.26, and the highest price was $17.68.

Redfin (NASDAQ:RDFN – Get Free Report) last released its financial results on Tuesday, May 7. The company reported ($0.57) EPS for the quarter, beating the consensus estimate of ($0.58) by $0.01. Redfin had a negative return on equity of 1780.89% and a negative net margin of 13.76%. The company had revenue of $225.50 million for the quarter, compared to analysts’ expectations of $217.79 million. During the same quarter last year, the company posted ($0.93) EPS. The company’s quarterly revenue increased by 5.3% compared to the same quarter last year. Equity analysts predict that Redfin will post -1.11 earnings per share for the current fiscal year.

Internal Activity at Redfin

In other Redfin news, insider Christian John Taubman sold 3,632 shares of the company’s stock in a transaction on Tuesday, May 21. The shares were sold at an average price of $6.96, for a total transaction value of $25,278.72. Following the transaction, the insider now owns 57,274 shares of the company’s stock, valued at approximately $398,627.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link . 4.40% of the stock is now owned by corporate insiders.

Institutional investors rate Redfin

A number of hedge funds and other institutional investors have recently changed their positions in RDFN. ProShare Advisors LLC increased its holdings in Redfin by 9.8% in the first quarter. ProShare Advisors LLC now owns 19,876 shares of the company’s stock worth $132,000 after acquiring an additional 1,766 shares during the period. Principal Financial Group Inc. increased its holdings in Redfin by 17.7% in the first quarter. Principal Financial Group Inc. now owns 14,872 shares of the company’s stock worth $99,000 after purchasing an additional 2,241 shares in the last quarter. Swiss National Bank increased its position in Redfin by 1.3% in the first quarter. Swiss National Bank now owns 227,500 shares of the company’s stock worth $1,513,000 after purchasing an additional 2,900 shares during the period. Victory Capital Management Inc. increased its holdings in Redfin by 24.9% in the fourth quarter. Victory Capital Management Inc. now owns 14,856 shares of the company’s stock worth $153,000 after purchasing an additional 2,957 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in Redfin by 205.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 4,608 shares of the company’s stock worth $31,000 after purchasing an additional 3,101 shares during the period. 61.07% of the stock is currently owned by institutional investors and hedge funds.

Redfin Company Profile

(Download the free report)

Redfin Corporation operates as a residential real estate brokerage firm in the United States and Canada. The company operates an online real estate marketplace and provides real estate services, including helping individuals buy or sell a home. It also provides title and settlement services; and originates and sells mortgage loans.

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