BidaskClub upgraded shares of Redfin (NASDAQ:RDFN) from a hold rating to a buy rating in a research note released on Friday morning, BidAskClub reports.

RDFN has been the subject of several other research reports. SunTrust Banks started coverage on shares of Redfin in a research note on Tuesday, July 9th. They issued a buy rating and a $23.00 price objective for the company. Craig Hallum raised shares of Redfin from a hold rating to a buy rating and set a $24.00 price objective for the company in a research note on Wednesday, August 21st. DA Davidson set a $16.00 price objective on shares of Redfin and gave the company a hold rating in a research note on Tuesday, July 2nd. Wedbush set a $30.00 price objective on shares of Redfin and gave the company a buy rating in a research note on Friday, July 12th. Finally, Stifel Nicolaus raised their price objective on shares of Redfin from $18.00 to $20.00 and gave the company a hold rating in a research note on Friday, August 2nd. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Redfin presently has an average rating of Buy and a consensus price target of $23.00.

NASDAQ RDFN opened at $18.69 on Friday. The firm has a 50 day simple moving average of $17.67 and a 200-day simple moving average of $18.65. The company has a debt-to-equity ratio of 0.54, a quick ratio of 3.19 and a current ratio of 3.91. Redfin has a one year low of $13.50 and a one year high of $23.47. The firm has a market cap of $1.65 billion, a price-to-earnings ratio of -38.14 and a beta of 1.38.

Redfin (NASDAQ:RDFN) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.14) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.15) by $0.01. Redfin had a negative net margin of 15.47% and a negative return on equity of 25.83%. The business had revenue of $197.80 million during the quarter, compared to analyst estimates of $190.35 million. During the same quarter last year, the firm posted $0.04 earnings per share. The business’s revenue for the quarter was up 38.7% compared to the same quarter last year. Equities analysts predict that Redfin will post -0.93 EPS for the current fiscal year.

In related news, insider Bridget Frey sold 5,000 shares of Redfin stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $18.22, for a total value of $91,100.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert J. Mylod, Jr. sold 112,282 shares of Redfin stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $17.50, for a total transaction of $1,964,935.00. Following the completion of the transaction, the director now owns 4,516 shares of the company’s stock, valued at approximately $79,030. The disclosure for this sale can be found here. Insiders sold 160,250 shares of company stock valued at $2,848,724 in the last quarter. 8.20% of the stock is owned by insiders.

Several large investors have recently modified their holdings of RDFN. Penserra Capital Management LLC acquired a new position in Redfin in the 1st quarter valued at $25,000. NumerixS Investment Technologies Inc acquired a new position in shares of Redfin during the second quarter worth about $49,000. Edge Wealth Management LLC boosted its position in shares of 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 buying an additional 2,000 shares during the period. Aperio Group LLC acquired a new position in shares of Redfin during the second quarter worth about $96,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Redfin by 148.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,579 shares of the company’s stock worth $118,000 after buying an additional 3,932 shares during the period. Institutional investors and hedge funds own 88.51% 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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