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Cowen & Co. Thinks Redfin Corp’s Stock is Going to Recover


In a report released today, Thomas Champion from Cowen & Co. maintained a Buy rating on Redfin Corp (RDFN), with a price target of $21. The company’s shares closed yesterday at $14.85, close to its 52-week low of $14.46.

According to TipRanks.com, Champion is ranked #2241 out of 4912 analysts.

Redfin Corp has an analyst consensus of Moderate Buy, with a price target consensus of $21.29, which is a 43.4% upside from current levels. In a report released today, Oppenheimer also maintained a Buy rating on the stock with a $21 price target.

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Based on Redfin Corp’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $3.21 million. In comparison, last year the company had a net profit of $10.56 million.

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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.