In a report issued on March 26, Mark Mahaney from RBC Capital maintained a Buy rating on Redfin (RDFN), with a price target of $24.00. The company’s shares closed last Friday at $16.09.
According to TipRanks.com, Mahaney is a 5-star analyst with an average return of 9.0% and a 50.1% success rate. Mahaney covers the Technology sector, focusing on stocks such as Spotify Technology SA, Uber Technologies, and Eventbrite.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Redfin with a $27.00 average price target, implying a 56.9% upside from current levels. In a report issued on March 18, Wedbush also maintained a Buy rating on the stock with a $18.00 price target.
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Based on Redfin’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $233 million and GAAP net loss of $7.78 million. In comparison, last year the company earned revenue of $124 million and had a GAAP net loss of $12.22 million.
Based on the recent corporate insider activity of 69 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. provides real estate brokerage services. The firm engages in buying and selling homes. It operates through the following segments: Real Estate Services and Properties. The Real Estate Services segment consists of revenue transactions. The Properties segment consists of home purchase costs, capitalized improvements, selling expenses and home maintenance expenses. The company was founded by David Selinger, David Eraker, and Michael Dougherty in 2004 and is headquartered in Seattle, WA.
