Redfin (NASDAQ:RDFN) Upgraded at Susquehanna Bancshares

Susquehanna Bancshares upgraded shares of Redfin (NASDAQ:RDFN) from a neutral rating to a positive rating in a research note issued to investors on Wednesday morning, BenzingaRatingsTable reports. They currently have $23.00 target price on the stock.

Several other research firms have also weighed in on RDFN. ValuEngine lowered Zosano Pharma from a buy rating to a hold rating in a report on Wednesday, May 1st. Stephens upgraded Redfin from an underweight rating to an overweight rating and lifted their target price for the stock from $18.00 to $23.00 in a report on Monday, June 10th. TheStreet upgraded Third Point Reinsurance from a d+ rating to a c- rating in a report on Tuesday, May 14th. DA Davidson set a $16.00 target price on Redfin and gave the stock a hold rating in a report on Tuesday, July 2nd. Finally, SunTrust Banks assumed coverage on Zillow Group in a report on Tuesday, July 9th. They set a buy rating and a $49.39 target price on the stock. Thirteen research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $22.21.

RDFN stock opened at $16.98 on Wednesday. The business’s 50-day simple moving average is $17.55. The company has a debt-to-equity ratio of 0.50, a quick ratio of 4.36 and a current ratio of 4.73. Redfin has a 1-year low of $13.50 and a 1-year high of $26.01.

Redfin (NASDAQ:RDFN) last posted its earnings results on Wednesday, May 8th. The company reported ($0.74) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.75) by $0.01. The firm had revenue of $110.10 million for the quarter, compared to analyst estimates of $103.97 million. Redfin had a negative return on equity of 22.64% and a negative net margin of 14.06%. The company’s revenue for the quarter was up 37.8% on a year-over-year basis. During the same period in the previous year, the company posted ($0.44) earnings per share. Analysts predict that Redfin will post -0.97 earnings per share for the current year.

In other news, CFO Christopher John Nielsen sold 3,000 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $17.35, for a total value of $52,050.00. Following the sale, the chief financial officer now directly owns 8,542 shares in the company, valued at $148,203.70. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Adam Wiener sold 10,000 shares of the business’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $22.05, for a total value of $220,500.00. Following the completion of the sale, the insider now owns 135,849 shares in the company, valued at $2,995,470.45. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,381 shares of company stock worth $737,689. Corporate insiders own 8.20% of the company’s stock.

Several institutional investors have recently modified their holdings of RDFN. Garner Asset Management Corp bought a new stake in shares of Redfin in the second quarter valued at approximately $282,000. Fox Run Management L.L.C. bought a new stake in Redfin during the second quarter worth $192,000. Edge Wealth Management LLC lifted its stake in Redfin by 90.9% during the second quarter. Edge Wealth Management LLC now owns 4,200 shares of the company’s stock worth $76,000 after purchasing an additional 2,000 shares during the last quarter. Handelsbanken Fonder AB lifted its stake in Redfin by 57.9% during the second quarter. Handelsbanken Fonder AB now owns 995,000 shares of the company’s stock worth $17,890,000 after purchasing an additional 364,799 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. bought a new stake in Redfin during the first quarter worth $697,000. Institutional investors own 93.92% of the company’s stock.

Redfin Company Profile

Redfin Corporation operates as a real estate brokerage company in the United States. The company operates an online real estate marketplace and provides real estate services, including assisting individuals in purchase or sell their residential property. It also provides title and settlement services; originates and sells mortgages; and buys and sells residential properties.

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Analyst Recommendations for Redfin (NASDAQ:RDFN)

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