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

Redfin (NASDAQ:RDFN) had its price objective cut by Susquehanna from $8.00 to $7.00 in a research note issued to investors on Thursday morning, Benzinga reports. They currently have a neutral rating on the stock.

Several other equities research analysts have also commented on RDFN. Needham & Company LLC restated a hold rating on shares of Redfin in a research note on Wednesday, August 7th. Stephens upgraded Redfin from an equal weight rating to an overweight rating and increased their price target for the stock from $8.00 to $9.00 in a research note on Wednesday, May 8th. Wedbush reiterated a neutral rating and issued a $8.00 price target on shares of Redfin in a research note on Wednesday, August 7th. DA Davidson reiterated a neutral rating and issued a $7.25 price target on shares of Redfin in a research note on Wednesday, July 3rd. Finally, Citigroup cut their price target on Redfin from $8.00 to $7.00 and set a neutral rating for the company in a research note on Wednesday, May 8th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Hold and an average price target of $7.18.

Redfin Trading Up 1.6 %

NASDAQ:RDFN opened at $7.02 on Thursday. The company has a debt-to-equity ratio of 295.91, a current ratio of 1.33 and a quick ratio of 1.33. The firm has a market capitalization of $838.68 million, a price-to-earnings ratio of -5.90 and a beta of 2.65. Redfin has a one year low of $4.26 and a one year high of $11.16. The business has a fifty day moving average price of $6.85 and a 200-day moving average price of $6.75.

Redfin (NASDAQ:RDFN) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.23) EPS for the quarter, topping the consensus estimate of ($0.26) by $0.03. The firm had revenue of $295.20 million during the quarter, compared to analyst estimates of $291.59 million. Redfin had a negative return on equity of 1,780.89% and a negative net margin of 13.55%. Redfin’s revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the business posted ($0.25) EPS. Sell-side analysts forecast that Redfin will post -1.15 EPS for the current year.

Insider Buying and Selling at Redfin

In related news, insider Christian John Taubman sold 3,632 shares of the stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $6.96, for a total value of $25,278.72. Following the completion of the transaction, the insider now owns 57,274 shares of the company’s stock, valued at approximately $398,627.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 4.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in RDFN. Sequoia Financial Advisors LLC bought a new position in shares of Redfin in the 4th quarter valued at about $270,000. Valeo Financial Advisors LLC bought a new stake in Redfin in the fourth quarter worth about $206,000. Byrne Asset Management LLC bought a new stake in Redfin in the fourth quarter worth about $475,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Redfin by 30.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,218 shares of the company’s stock worth $260,000 after purchasing an additional 5,892 shares during the last quarter. Finally, Federated Hermes Inc. lifted its stake in Redfin by 2.4% in the fourth quarter. Federated Hermes Inc. now owns 1,497,912 shares of the company’s stock worth $15,458,000 after purchasing an additional 35,735 shares during the last quarter. Institutional investors own 61.07% of the company’s stock.

About Redfin

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.