Needham analyst Brad Erickson maintained a Hold rating on Redfin (RDFN) today. The company’s shares closed last Wednesday at $55.67, close to its 52-week high of $56.31.
According to TipRanks.com, Erickson is a 5-star analyst with an average return of 26.5% and a 54.5% success rate. Erickson covers the Technology sector, focusing on stocks such as Zillow Group Class C, Zillow Group Class A, and Fiverr International.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Redfin with a $44.50 average price target, a -19.3% downside from current levels. In a report released today, Stifel Nicolaus also maintained a Hold rating on the stock with a $40.00 price target.
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Based on Redfin’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $214 million and GAAP net loss of $6.61 million. In comparison, last year the company earned revenue of $198 million and had a GAAP net loss of $12.63 million.
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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.
