Redfin Corporation (NASDAQ:RDFN)’s share price gapped down prior to trading on Friday after Bank of America Corporation lowered their price target on the stock from $28.00 to $25.00. The stock had previously closed at $20.86, but opened at $20.93. Bank of America Corporation currently has a neutral rating on the stock. Redfin Corporation shares last traded at $20.93, with a volume of 2237443 shares.

Several other brokerages have also recently weighed in on RDFN. Royal Bank Of Canada started coverage on shares of Redfin Corporation in a research note on Tuesday, August 22nd. They issued a “sector perform” rating and a $28.00 price objective on the stock. CIBC started coverage on shares of Redfin Corporation in a research note on Tuesday, August 22nd. They issued an “outperform” rating and a $31.00 price objective on the stock. Oppenheimer Holdings, Inc. lowered their price objective on shares of Redfin Corporation from $31.00 to $27.00 and set an “outperform” rating on the stock in a research note on Friday. Piper Jaffray Companies assumed coverage on shares of Redfin Corporation in a research note on Thursday, September 28th. They issued a “neutral” rating and a $26.00 price objective on the stock. Finally, William Blair assumed coverage on shares of Redfin Corporation in a report on Thursday, October 19th. They issued an “outperform” rating for the company. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $25.86.

A number of institutional investors have recently added to or reduced their stakes in the stock. Hillman Co. purchased a new stake in Redfin Corporation in the 3rd quarter worth approximately $31,321,000. Baillie Gifford & Co. purchased a new stake in Redfin Corporation in the 3rd quarter worth approximately $15,442,000. Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in Redfin Corporation in the 3rd quarter worth approximately $9,700,000. JPMorgan Chase & Co. purchased a new stake in Redfin Corporation in the 3rd quarter worth approximately $2,472,000. Finally, First Trust Advisors LP purchased a new stake in Redfin Corporation in the 3rd quarter worth approximately $1,548,000. 0.97% of the stock is owned by institutional investors.

Redfin Corporation (NASDAQ:RDFN) last released its earnings results on Thursday, November 9th. The company reported $0.12 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.12. The firm had revenue of $109.50 million during the quarter, compared to analysts’ expectations of $110.62 million. Redfin Corporation’s revenue for the quarter was up 35.0% on a year-over-year basis. sell-side analysts anticipate that Redfin Corporation will post -0.19 earnings per share for the current fiscal year.

TRADEMARK VIOLATION NOTICE: This piece of content was published by Watch List News and is owned by of Watch List News. If you are viewing this piece of content on another site, it was stolen and republished in violation of U.S. and international copyright legislation. The legal version of this piece of content can be viewed at https://www.watchlistnews.com/redfin-corporation-rdfn-shares-gap-down-on-analyst-downgrade/1694893.html.

Redfin Corporation Company Profile

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.

Receive News & Ratings for Redfin Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Redfin Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.