B. Riley Estimates Redfin’s FY2029 Earnings (NASDAQ:RDFN)

Redfin Co. (NASDAQ:RDFN) – B. Riley dropped their FY2029 earnings per share estimates for shares of Redfin in a research report issued to clients and investors on Monday, May 12th. B. Riley analyst N. Khan now forecasts that the company will post earnings per share of $0.46 for the year, down from their previous estimate of $0.51. B. Riley currently has a “Hold” rating on the stock. The consensus estimate for Redfin’s current full-year earnings is ($1.25) per share.

Several other brokerages also recently weighed in on RDFN. Gordon Haskett upgraded Redfin to a “hold” rating in a research note on Monday, March 10th. Citigroup lifted their target price on Redfin from $7.30 to $9.20 and gave the company a “neutral” rating in a research note on Thursday, May 8th. Susquehanna reduced their price target on Redfin from $10.00 to $7.00 and set a “neutral” rating for the company in a report on Monday, March 3rd. Stephens reduced their price target on Redfin from $12.50 to $11.00 and set an “overweight” rating for the company in a report on Thursday, May 8th. Finally, DA Davidson reissued a “neutral” rating and issued a $7.25 price target on shares of Redfin in a report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $10.45.

Redfin Stock Up 7.2%

NASDAQ:RDFN opened at $9.84 on Tuesday. The stock’s 50 day moving average price is $9.48 and its 200 day moving average price is $8.88. Redfin has a 52-week low of $5.49 and a 52-week high of $15.29. The company has a market capitalization of $1.26 billion, a PE ratio of -7.69 and a beta of 2.50.

Redfin (NASDAQ:RDFN) last released its quarterly earnings results on Tuesday, May 6th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.69) by ($0.04). The company had revenue of $221.03 million during the quarter, compared to analysts’ expectations of $220.89 million. The firm’s revenue was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.57) EPS.

Insider Buying and Selling

In related news, insider Christian John Taubman sold 16,209 shares of Redfin stock in a transaction on Friday, March 21st. The stock was sold at an average price of $11.15, for a total transaction of $180,730.35. Following the completion of the transaction, the insider now directly owns 74,616 shares of the company’s stock, valued at approximately $831,968.40. The trade was a 17.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 4.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Redfin

Hedge funds and other institutional investors have recently bought and sold shares of the company. Summit Securities Group LLC acquired a new position in Redfin during the first quarter worth $28,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Redfin during the fourth quarter worth $27,000. R Squared Ltd acquired a new position in shares of Redfin in the fourth quarter worth $33,000. FNY Investment Advisers LLC acquired a new position in shares of Redfin in the first quarter worth $46,000. Finally, US Bancorp DE raised its holdings in shares of Redfin by 48.3% in the fourth quarter. US Bancorp DE now owns 5,522 shares of the company’s stock worth $43,000 after acquiring an additional 1,799 shares during the last quarter. 61.07% of the stock is owned by institutional investors and hedge funds.

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.