Redfin (NASDAQ:RDFN) Price Target Raised to $65.00 at BTIG Research

Redfin (NASDAQ:RDFN) had its price target upped by BTIG Research from $50.00 to $65.00 in a report released on Friday morning, Analyst Ratings Network reports. The brokerage currently has a buy rating on the stock.

A number of other analysts have also issued reports on RDFN. Stifel Nicolaus increased their price target on shares of Redfin from $23.00 to $38.00 and gave the stock a hold rating in a research report on Wednesday, July 29th. TheStreet raised shares of Redfin from a d+ rating to a c- rating in a research report on Friday, August 14th. Wedbush increased their price target on shares of Redfin from $48.00 to $62.00 in a research report on Thursday, October 15th. 140166 lowered shares of Redfin from a neutral rating to a negative rating and increased their price target for the stock from $24.00 to $32.00 in a research report on Tuesday, July 28th. They noted that the move was a valuation call. Finally, Goldman Sachs Group increased their price target on shares of Redfin from $19.00 to $30.00 and gave the stock a sell rating in a research report on Monday, July 20th. They noted that the move was a valuation call. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $42.24.

RDFN stock opened at $48.69 on Friday. The company has a current ratio of 4.21, a quick ratio of 4.14 and a debt-to-equity ratio of 0.50. Redfin has a one year low of $9.63 and a one year high of $56.31. The firm has a market capitalization of $4.84 billion, a PE ratio of -66.70 and a beta of 1.96. The firm has a 50-day moving average of $49.61 and a two-hundred day moving average of $36.73.

Redfin (NASDAQ:RDFN) last posted its quarterly earnings data on Thursday, July 30th. The company reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.16. Redfin had a negative net margin of 7.73% and a negative return on equity of 20.93%. The company had revenue of $213.67 million during the quarter, compared to analyst estimates of $186.78 million. On average, equities research analysts anticipate that Redfin will post -0.41 earnings per share for the current year.

In other Redfin news, CEO Glenn Kelman sold 20,000 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $42.20, for a total transaction of $844,000.00. Following the transaction, the chief executive officer now owns 1,790,445 shares in the company, valued at $75,556,779. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO Bridget Frey sold 14,980 shares of the stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $43.12, for a total value of $645,937.60. Following the transaction, the chief technology officer now owns 120,857 shares in the company, valued at approximately $5,211,353.84. The disclosure for this sale can be found here. In the last quarter, insiders have sold 340,630 shares of company stock worth $15,429,864. Corporate insiders own 7.30% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Redfin in the second quarter worth $168,000. Public Employees Retirement Association of Colorado grew its stake in shares of Redfin by 63.7% in the first quarter. Public Employees Retirement Association of Colorado now owns 12,149 shares of the company’s stock worth $187,000 after acquiring an additional 4,727 shares during the last quarter. Seven Eight Capital LP acquired a new stake in shares of Redfin in the second quarter worth $202,000. Choate Investment Advisors acquired a new stake in shares of Redfin in the second quarter worth $204,000. Finally, Reynders McVeigh Capital Management LLC acquired a new stake in shares of Redfin in the second quarter worth $206,000. Institutional investors and hedge funds own 89.59% 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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