Stifel Nicolaus analyst John Egbert maintained a Hold rating on Redfin Corp (RDFN) today and set a price target of $18. The company’s shares closed yesterday at $20.04.
Egbert commented:
“We are encouraged by the company’s continued innovation and efforts to enhance the end-to-end home buying / selling experience. However, we believe risk / reward is currently balanced as we don’t expect a meaningful resurgence in housing activity, and despite the pick-up in demand, Redfin is limited by agent capacity. We remain $18 TP.”
According to TipRanks.com, Egbert is a 4-star analyst with an average return of 20.0% and a 48.9% success rate. Egbert covers the Technology sector, focusing on stocks such as Tencent Music Entertainment Group, Spotify Technology SA, and Trade Desk Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Redfin Corp with a $25.75 average price target.
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The company has a one-year high of $26.01 and a one-year low of $13.50. Currently, Redfin Corp has an average volume of 1.15M.
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Redfin Corp. is a technology-powered residential real estate brokerage, which engages in buying and selling homes. It operates through the following segments: Real Estate, Properties and Other. The Real Estate segment revenue is derived from commissions and fees charged on real estate services transactions.
