Redfin (NASDAQ:RDFN) Given New $7.00 Price Target at Susquehanna

Redfin (NASDAQ:RDFN) had its target price trimmed by Susquehanna from $8.00 to $7.00 in a research report report published on Thursday, Benzinga reports. The firm currently has a neutral rating on the stock.

Several other research analysts also recently commented on RDFN. Needham & Company LLC reaffirmed a hold rating on shares of Redfin in a research note on Wednesday. DA Davidson reaffirmed a neutral rating and issued a $7.25 price target on shares of Redfin in a research note on Wednesday, July 3rd. Wedbush reaffirmed a neutral rating and issued a $8.00 price target on shares of Redfin in a research note on Wednesday. Stephens raised shares of Redfin from an equal weight rating to an overweight rating and raised their price target for the stock from $8.00 to $9.00 in a research note on Wednesday, May 8th. Finally, Citigroup reduced their price target on shares of Redfin from $8.00 to $7.00 and set a neutral rating on the stock in a research note on Wednesday, May 8th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Hold and an average target price of $7.18.

Redfin Price Performance

Redfin stock traded up $0.11 during mid-day trading on Thursday, reaching $7.02. 4,098,908 shares of the company’s stock traded hands, compared to its average volume of 4,910,432. The company has a market cap of $838.69 million, a price-to-earnings ratio of -5.90 and a beta of 2.65. The stock has a 50 day moving average of $6.85 and a two-hundred day moving average of $6.77. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 295.91. Redfin has a 12-month low of $4.26 and a 12-month high of $11.16.

Redfin (NASDAQ:RDFN) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.03. Redfin had a negative net margin of 13.76% and a negative return on equity of 1,780.89%. The company had revenue of $295.20 million for the quarter, compared to the consensus estimate of $291.59 million. During the same quarter in the prior year, the firm earned ($0.25) earnings per share. Redfin’s revenue was up 7.2% on a year-over-year basis. Equities analysts forecast that Redfin will post -1.15 earnings per share for the current year.

Insider Activity at Redfin

In other Redfin news, insider Christian John Taubman sold 3,632 shares of Redfin stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $6.96, for a total transaction of $25,278.72. Following the sale, the insider now owns 57,274 shares of the company’s stock, valued at approximately $398,627.04. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 4.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Redfin

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Arizona State Retirement System raised its holdings in shares of Redfin by 5.4% during the 2nd quarter. Arizona State Retirement System now owns 33,381 shares of the company’s stock worth $201,000 after acquiring an additional 1,710 shares during the period. ProShare Advisors LLC raised its holdings in shares of Redfin by 9.8% during the 1st quarter. ProShare Advisors LLC now owns 19,876 shares of the company’s stock worth $132,000 after acquiring an additional 1,766 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Redfin by 17.7% during the 1st quarter. Principal Financial Group Inc. now owns 14,872 shares of the company’s stock worth $99,000 after acquiring an additional 2,241 shares during the period. Mather Group LLC. raised its holdings in shares of Redfin by 282.1% during the 2nd quarter. Mather Group LLC. now owns 3,821 shares of the company’s stock worth $25,000 after acquiring an additional 2,821 shares during the period. Finally, Swiss National Bank raised its holdings in shares of Redfin by 1.3% during the 1st quarter. Swiss National Bank now owns 227,500 shares of the company’s stock worth $1,513,000 after acquiring an additional 2,900 shares during the period. Institutional investors and hedge funds own 61.07% of the company’s stock.

Redfin Company Profile

Redfin Corporation operates as a residential real estate brokerage company in the United States and Canada. The company operates an online real estate marketplace and provides real estate services, including assisting individuals in the purchase or sell of home. It also provides title and settlement services; and originates and sells mortgages.