SunTrust Banks started coverage on shares of Redfin (NASDAQ:RDFN) in a research report released on Tuesday morning, Benzinga’s Daily Ratings Newsletter reports. The brokerage issued a buy rating and a $23.00 target price on the stock. SunTrust Banks also issued estimates for Redfin’s Q2 2019 earnings at ($0.16) EPS, Q3 2019 earnings at $0.04 EPS, Q4 2019 earnings at ($0.16) EPS, FY2019 earnings at ($1.04) EPS, FY2020 earnings at ($1.07) EPS, FY2021 earnings at ($0.09) EPS, FY2022 earnings at ($0.55) EPS and FY2023 earnings at ($0.05) EPS.

A number of other research firms also recently issued reports on RDFN. BidaskClub upgraded shares of Acceleron Pharma from a strong sell rating to a sell rating in a research report on Friday, May 10th. Wedbush boosted their target price on shares of Roku from $55.00 to $65.00 and gave the company a neutral rating in a research report on Thursday, May 9th. Susquehanna Bancshares restated a neutral rating on shares of Redfin in a research report on Monday, April 8th. ValuEngine downgraded shares of Zosano Pharma from a buy rating to a hold rating in a research report on Wednesday, May 1st. Finally, Zacks Investment Research downgraded shares of Hess Midstream Partners from a hold rating to a sell rating in a research report on Tuesday, May 14th. Thirteen analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Redfin presently has a consensus rating of Hold and a consensus target price of $22.23.

Shares of RDFN opened at $17.88 on Tuesday. 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. The firm’s fifty day moving average is $17.50.

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

In other Redfin news, insider Adam Wiener sold 10,000 shares of the company’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 transaction, the insider now owns 135,849 shares in the company, valued at $2,995,470.45. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Christopher John Nielsen sold 3,000 shares of the company’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $22.39, for a total transaction of $67,170.00. Following the completion of the transaction, the chief financial officer now owns 3,000 shares of the company’s stock, valued at approximately $67,170. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,381 shares of company stock valued at $664,159. Insiders own 8.20% of the company’s stock.

Several institutional investors have recently modified their holdings of the business. Handelsbanken Fonder AB raised its position in shares of Redfin by 57.9% in the second quarter. Handelsbanken Fonder AB now owns 995,000 shares of the company’s stock worth $17,890,000 after acquiring an additional 364,799 shares during the period. Amundi Pioneer Asset Management Inc. acquired a new position in shares of Redfin in the first quarter worth about $697,000. First Trust Advisors LP purchased a new stake in shares of Redfin during the first quarter worth about $521,000. Clearbridge Investments LLC increased its stake in shares of Redfin by 13.8% during the first quarter. Clearbridge Investments LLC now owns 677,509 shares of the company’s stock worth $13,733,000 after purchasing an additional 82,008 shares in the last quarter. Finally, BSW Wealth Partners purchased a new stake in shares of Redfin during the first quarter worth about $1,518,000. Institutional investors and hedge funds own 93.92% of the company’s stock.

About Redfin

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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