SunTrust Banks began coverage on shares of Redfin (NASDAQ:RDFN) in a research note published on Tuesday morning, Benzinga’s Daily Ratings Newsletter reports. The firm issued a buy rating and a $23.00 target price on the stock. SunTrust Banks also issued estimates for Redfin’s Q2 2019 earnings at ($0.16) EPS, Q3 2019 earnings at $0.04 EPS, Q4 2019 earnings at ($0.16) EPS, FY2019 earnings at ($1.04) EPS, FY2020 earnings at ($1.07) EPS, FY2021 earnings at ($0.09) EPS, FY2022 earnings at ($0.55) EPS and FY2023 earnings at ($0.05) EPS.

A number of other research analysts also recently commented on RDFN. BidaskClub raised shares of Acceleron Pharma from a strong sell rating to a sell rating in a report on Friday, May 10th. Piper Jaffray Companies lowered their price target on shares of CELYAD SA/ADR from $51.00 to $41.00 and set an overweight rating for the company in a report on Monday, April 1st. ValuEngine downgraded shares of Zosano Pharma from a buy rating to a hold rating in a report on Wednesday, May 1st. Wedbush increased their price target on shares of Roku from $55.00 to $65.00 and gave the company a neutral rating in a report on Thursday, May 9th. Finally, Cowen set a $24.00 price target on shares of Redfin and gave the company a buy rating in a report on Friday, June 21st. Thirteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Redfin presently has an average rating of Hold and an average price target of $22.23.

Shares of Redfin stock opened at $17.88 on Tuesday. The firm’s 50-day moving average price is $17.50. The company has a quick ratio of 4.36, a current ratio of 4.73 and a debt-to-equity ratio of 0.50. Redfin has a twelve month low of $13.50 and a twelve month high of $26.01.

Redfin (NASDAQ:RDFN) last issued its quarterly earnings data on Wednesday, May 8th. The company reported ($0.74) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.75) by $0.01. Redfin had a negative return on equity of 22.64% and a negative net margin of 14.06%. The firm had revenue of $110.10 million during the quarter, compared to analyst estimates of $103.97 million. During the same quarter last year, the business posted ($0.44) earnings per share. The business’s quarterly revenue was up 37.8% compared to the same quarter last year. Analysts anticipate that Redfin will post -0.97 earnings per share for the current fiscal year.

In other Redfin news, CFO Christopher John Nielsen sold 3,000 shares of the firm’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $22.39, for a total value of $67,170.00. Following the completion of the sale, the chief financial officer now owns 3,000 shares of the company’s stock, valued at $67,170. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Adam Wiener sold 10,000 shares of the firm’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $22.05, for a total transaction of $220,500.00. Following the completion of the sale, the insider now directly owns 135,849 shares of the company’s stock, valued at approximately $2,995,470.45. The disclosure for this sale can be found here. In the last three months, insiders sold 33,381 shares of company stock valued at $664,159. 8.20% of the stock is owned by insiders.

Institutional investors have recently bought and sold shares of the company. Penserra Capital Management LLC bought a new stake in shares of Redfin during the first quarter valued at approximately $25,000. FNY Investment Advisers LLC bought a new stake in shares of Redfin during the first quarter valued at approximately $36,000. Captrust Financial Advisors raised its stake in shares of Redfin by 167.7% during the fourth quarter. Captrust Financial Advisors now owns 2,136 shares of the company’s stock valued at $31,000 after acquiring an additional 1,338 shares in the last quarter. Edge Wealth Management LLC bought a new stake in shares of Redfin during the first quarter valued at approximately $45,000. Finally, Great Point Wealth Advisors LLC bought a new stake in shares of Redfin during the fourth quarter valued at approximately $144,000. 93.92% of the stock is owned by hedge funds and other institutional investors.

About Redfin

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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