Redfin’s (RDFN) Buy Rating Reaffirmed at SunTrust Banks

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SunTrust Banks reissued their buy rating on shares of Redfin (NASDAQ:RDFN) in a research report released on Tuesday morning, AnalystRatings.com reports. They currently have a $25.00 price target on the stock. SunTrust Banks also issued estimates for Redfin’s Q1 2020 earnings at ($0.77) EPS, Q2 2020 earnings at ($0.03) EPS, Q3 2020 earnings at $0.20 EPS, Q4 2020 earnings at ($0.05) EPS, FY2024 earnings at $0.47 EPS and FY2024 earnings at $0.53 EPS.

RDFN has been the topic of a number of other reports. Wedbush reaffirmed an outperform rating and set a $26.00 price objective on shares of Redfin in a report on Thursday, January 16th. Zelman & Associates raised Redfin from a hold rating to a buy rating in a report on Thursday, November 7th. Stephens reissued an overweight rating and issued a $30.00 target price (up from $25.00) on shares of Redfin in a report on Monday, January 27th. BidaskClub raised Redfin from a buy rating to a strong-buy rating in a report on Friday, January 24th. Finally, Zacks Investment Research raised Redfin from a hold rating to a buy rating and set a $24.00 target price on the stock in a report on Wednesday, January 8th. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Redfin has an average rating of Buy and an average price target of $26.13.

NASDAQ RDFN opened at $31.23 on Tuesday. The company has a current ratio of 4.81, a quick ratio of 3.68 and a debt-to-equity ratio of 0.52. The stock’s 50 day moving average is $23.72 and its two-hundred day moving average is $19.75. The company has a market capitalization of $2.78 billion, a price-to-earnings ratio of -32.87 and a beta of 1.41. Redfin has a 1-year low of $14.70 and a 1-year high of $31.50.

Redfin (NASDAQ:RDFN) last released its quarterly earnings data on Wednesday, February 12th. The company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.04. The company had revenue of $233.20 million for the quarter, compared to the consensus estimate of $217.17 million. Redfin had a negative return on equity of 25.71% and a negative net margin of 12.71%. The company’s quarterly revenue was up 87.9% on a year-over-year basis. During the same period in the previous year, the business earned ($0.14) earnings per share. On average, analysts predict that Redfin will post -0.92 earnings per share for the current year.

In other Redfin news, insider Adam Wiener sold 10,000 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $20.95, for a total transaction of $209,500.00. Also, CTO Bridget Frey sold 6,000 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $19.21, for a total value of $115,260.00. Following the transaction, the chief technology officer now directly owns 71,734 shares in the company, valued at approximately $1,378,010.14. The disclosure for this sale can be found here. Insiders sold a total of 148,000 shares of company stock worth $3,129,600 over the last three months. 8.20% of the stock is owned by company insiders.

A number of large investors have recently bought and sold shares of RDFN. Baillie Gifford & Co. lifted its holdings in Redfin by 35.8% during the 4th quarter. Baillie Gifford & Co. now owns 8,001,769 shares of the company’s stock worth $169,158,000 after buying an additional 2,110,499 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Redfin by 464.6% during the 4th quarter. Bank of New York Mellon Corp now owns 1,952,429 shares of the company’s stock worth $41,274,000 after buying an additional 1,606,594 shares in the last quarter. Lord Abbett & CO. LLC lifted its holdings in Redfin by 396.6% during the 4th quarter. Lord Abbett & CO. LLC now owns 1,705,523 shares of the company’s stock worth $36,055,000 after buying an additional 1,362,077 shares in the last quarter. Point72 Asset Management L.P. lifted its holdings in Redfin by 824.3% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,191,900 shares of the company’s stock worth $20,072,000 after buying an additional 1,062,947 shares in the last quarter. Finally, Spyglass Capital Management LLC lifted its holdings in Redfin by 86.5% during the 4th quarter. Spyglass Capital Management LLC now owns 1,424,415 shares of the company’s stock worth $30,112,000 after buying an additional 660,713 shares in the last quarter. 91.33% of the stock is currently owned by hedge funds and other institutional investors.

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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