In a report released today, John Egbert from Stifel Nicolaus maintained a Hold rating on Redfin Corp (NASDAQ: RDFN), with a price target of $20. The company’s shares opened today at $17.96, close to its 52-week low of $17.74.
According to TipRanks.com, Egbert is a 4-star analyst with an average return of 14.2% and a 52.9% success rate. Egbert covers the Technology sector, focusing on stocks such as Yelp Inc, Snap Inc, and Twitter.
The word on The Street in general, suggests a Hold analyst consensus rating for Redfin Corp with a $23.20 average price target, implying a 29.2% upside from current levels. In a report released today, D.A. Davidson also downgraded the stock to Hold with a $22 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 $4.3 million.
Based on the recent corporate insider activity of 29 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.
