Piper Jaffray Companies Reaffirms Hold Rating for Redfin Corporation (RDFN)

Piper Jaffray Companies reiterated their hold rating on shares of Redfin Corporation (NASDAQ:RDFN) in a research note published on Wednesday. Piper Jaffray Companies currently has a $26.00 price target on the stock.

RDFN has been the topic of several other reports. Goldman Sachs Group, Inc. (The) initiated coverage on shares of Redfin Corporation in a report on Tuesday, August 22nd. They issued a neutral rating and a $20.00 price target on the stock. Bank of America Corporation reaffirmed a neutral rating and issued a $28.00 price target on shares of Redfin Corporation in a report on Tuesday, August 22nd. Royal Bank Of Canada initiated coverage on shares of Redfin Corporation in a report on Tuesday, August 22nd. They issued a sector perform rating and a $28.00 price target on the stock. Stifel Nicolaus initiated coverage on shares of Redfin Corporation in a report on Tuesday, August 22nd. They issued a hold rating and a $24.00 price target on the stock. Finally, CIBC initiated coverage on shares of Redfin Corporation in a report on Tuesday, August 22nd. They issued an outperform rating and a $31.00 price target on the stock. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of Hold and an average price target of $26.86.

Shares of Redfin Corporation (RDFN) traded down $0.84 during mid-day trading on Wednesday, reaching $22.90. 509,959 shares of the company traded hands, compared to its average volume of 666,963. Redfin Corporation has a 12 month low of $19.29 and a 12 month high of $33.49.

Redfin Corporation (NASDAQ:RDFN) last issued its quarterly earnings data on Thursday, September 7th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.01. The business had revenue of $104.90 million for the quarter, compared to analysts’ expectations of $104.78 million. Redfin Corporation’s revenue for the quarter was up 35.0% compared to the same quarter last year. equities analysts predict that Redfin Corporation will post -0.19 EPS for the current year.

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Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Baillie Gifford & Co. purchased a new position in Redfin Corporation in the third quarter worth $15,442,000. First Trust Advisors LP purchased a new position in Redfin Corporation in the third quarter worth $1,548,000. Finally, Nationwide Fund Advisors purchased a new position in Redfin Corporation in the third quarter worth $285,000. 0.97% of the stock is currently owned by institutional investors and hedge funds.

About Redfin Corporation

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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