Redfin Corp. (RDFN) Earns Neutral Rating from Analysts at Piper Jaffray Companies
Piper Jaffray Companies began coverage on shares of Redfin Corp. (NASDAQ:RDFN) in a research report released on Thursday, Marketbeat.com reports. The firm issued a neutral rating and a $26.00 price objective on the stock.
Several other equities analysts have also recently commented on RDFN. Goldman Sachs Group, Inc. (The) started coverage on Redfin Corp. in a research report on Tuesday, August 22nd. They set a neutral rating and a $20.00 target price for the company. Royal Bank Of Canada started coverage on Redfin Corp. in a research report on Tuesday, August 22nd. They set a sector perform rating and a $28.00 target price for the company. Stifel Nicolaus started coverage on Redfin Corp. in a research report on Tuesday, August 22nd. They set a hold rating and a $24.00 target price for the company. Bank of America Corporation restated a neutral rating and set a $28.00 target price on shares of Redfin Corp. in a research report on Tuesday, August 22nd. Finally, Oppenheimer Holdings, Inc. started coverage on Redfin Corp. in a research report on Tuesday, August 22nd. They set an outperform rating and a $31.00 target price for the company. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $26.86.
Shares of Redfin Corp. (NASDAQ RDFN) opened at 25.09 on Thursday. Redfin Corp. has a 12 month low of $19.29 and a 12 month high of $33.49. The company’s 50 day moving average price is $25.83 and its 200 day moving average price is $24.94. The company’s market capitalization is $1.77 billion.
Redfin Corp. (NASDAQ:RDFN) last posted its earnings results on Thursday, September 7th. The company reported $0.06 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.01. The business had revenue of $104.90 million for the quarter, compared to analysts’ expectations of $104.78 million. The business’s revenue for the quarter was up 35.0% compared to the same quarter last year. Analysts expect that Redfin Corp. will post ($0.16) EPS for the current fiscal year.
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In other news, major shareholder Tiger Global Management Llc acquired 260,000 shares of the business’s stock in a transaction dated Friday, July 28th. The stock was purchased at an average cost of $15.00 per share, for a total transaction of $3,900,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link.
About Redfin Corp.
Redfin Corporation is engaged in providing residential real estate brokerage services. The customer can search for homes by neighborhood, city or MLS number, or can refine results using detailed parameters, such as price and number of beds or baths. The Company serves home buyers and sellers. The Company offers online tools to consumers, including Redfin Estimate, which is an automated home-valuation tool.
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