Cowen & Co. Sticks to Its Buy Rating for Redfin Corp (RDFN)


In a report issued on January 31, Thomas Champion from Cowen & Co. maintained a Buy rating on Redfin Corp (RDFN), with a price target of $21. The company’s shares closed on Friday at $17.47.

According to TipRanks.com, Champion is a 2-star analyst with an average return of 0.7% and a 34.0% success rate. Champion covers the Technology sector, focusing on stocks such as Mercadolibre, Yelp Inc, and GrubHub.

The word on The Street in general, suggests a Hold analyst consensus rating for Redfin Corp with a $17.44 average price target, implying a -0.2% downside from current levels. In a report issued on January 24, Compass Point also initiated coverage with a Buy rating on the stock.

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Based on Redfin Corp’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $3.48 million. In comparison, last year the company had a GAAP net loss of $1.8 million.

Based on the recent corporate insider activity of 48 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of RDFN in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Redfin Corp. is a technology-powered residential real estate brokerage, which engages in buying and selling homes. It operates through Real Estate and Other segments. The Real Estate segment consists of real estate transactions.

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