Traders Buy Shares of Redfin (RDFN) on Weakness
Traders purchased shares of Redfin Corp (NASDAQ:RDFN) on weakness during trading on Friday. $31.19 million flowed into the stock on the tick-up and $20.71 million flowed out of the stock on the tick-down, for a money net flow of $10.48 million into the stock. Of all stocks tracked, Redfin had the 7th highest net in-flow for the day. Redfin traded down ($0.61) for the day and closed at $20.96
RDFN has been the subject of several recent analyst reports. BidaskClub downgraded Redfin from a “hold” rating to a “sell” rating in a report on Thursday, January 25th. Royal Bank of Canada reissued a “hold” rating and issued a $28.00 price target on shares of Redfin in a report on Monday, October 30th. Piper Jaffray Companies raised their price target on Redfin from $24.00 to $29.00 and gave the stock a “neutral” rating in a report on Monday, January 29th. Zacks Investment Research raised Redfin from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a report on Wednesday, November 15th. Finally, Cowen initiated coverage on Redfin in a report on Friday, December 15th. They issued an “outperform” rating and a $30.00 price target for the company. Two analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $25.73.
Redfin (NASDAQ:RDFN) last announced its quarterly earnings data on Thursday, February 22nd. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.03. The firm had revenue of $95.80 million during the quarter, compared to analysts’ expectations of $91.59 million. The business’s revenue for the quarter was up 43.4% compared to the same quarter last year. equities analysts forecast that Redfin Corp will post -0.22 earnings per share for the current fiscal year.
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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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