SunTrust Robinson Keeps Their Buy Rating on Redfin Corp (RDFN)


In a report released today, Naved Khan from SunTrust Robinson maintained a Buy rating on Redfin Corp (RDFN), with a price target of $24. The company’s shares closed yesterday at $17.72.

Khan said:

“We reit. our BUY and raise our PT to $24 (from $23). Solid Q2 Beat vs. Expectations. (39% y/y) was well- ahead of consensus’ $190.2M, with the beat coming largely from RDFN’s Properties segment (RedfinNow). Adj. EBITDA of ($4.4M) slightly beat Street estimates of ($6.3M). RDFN’s market share improved to 0.94% in 2Q19 vs 0.83% in 1Q, in terms of U.S. Value, as measured by the company.”

According to TipRanks.com, Khan is a 5-star analyst with an average return of 20.8% and a 75.0% success rate. Khan covers the Technology sector, focusing on stocks such as Wix.com Ltd, trivago NV, and Yext Inc.

Redfin Corp has an analyst consensus of Moderate Buy, with a price target consensus of $21.70, representing a 22.5% upside. In a report released today, Compass Point also upgraded the stock to Buy.

See today’s analyst top recommended stocks >>

Based on Redfin Corp’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $67.18 million. In comparison, last year the company had a net profit of $3.21 million.

Based on the recent corporate insider activity of 57 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 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.

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