B. Riley Comments on Redfin’s FY2028 Earnings (NASDAQ:RDFN)

Redfin Co. (NASDAQ:RDFN) – Analysts at B. Riley boosted their FY2028 EPS estimates for Redfin in a note issued to investors on Monday, November 11th. B. Riley analyst N. Khan now anticipates that the company will post earnings per share of $0.29 for the year, up from their previous forecast of $0.28. B. Riley currently has a “Buy” rating and a $15.00 target price on the stock. The consensus estimate for Redfin’s current full-year earnings is ($1.18) per share.

Redfin (NASDAQ:RDFN) last released its earnings results on Thursday, November 7th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.08). The firm had revenue of $278.02 million for the quarter, compared to analyst estimates of $280.21 million. During the same quarter in the prior year, the business posted ($0.17) earnings per share.

RDFN has been the topic of a number of other reports. Wedbush boosted their price objective on shares of Redfin from $8.00 to $10.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Redfin in a research report on Wednesday, August 7th. Jefferies Financial Group boosted their price objective on shares of Redfin from $7.50 to $11.50 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. boosted their price objective on shares of Redfin from $7.00 to $8.00 and gave the company a “neutral” rating in a research report on Tuesday. Finally, Susquehanna lifted their target price on shares of Redfin from $7.00 to $10.00 and gave the company a “neutral” rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $9.23.

Redfin Price Performance

Redfin stock opened at $8.71 on Wednesday. The firm’s 50 day simple moving average is $11.14 and its 200-day simple moving average is $8.60. The company has a market cap of $1.08 billion, a P/E ratio of -6.80 and a beta of 2.70. Redfin has a fifty-two week low of $5.10 and a fifty-two week high of $15.29.

Institutional Investors Weigh In On Redfin

Several institutional investors and hedge funds have recently bought and sold shares of the business. Creative Planning increased its holdings in Redfin by 8.1% in the 3rd quarter. Creative Planning now owns 15,826 shares of the company’s stock valued at $198,000 after buying an additional 1,181 shares during the period. Arizona State Retirement System increased its holdings in Redfin by 5.4% in the 2nd quarter. Arizona State Retirement System now owns 33,381 shares of the company’s stock valued at $201,000 after buying an additional 1,710 shares during the period. ProShare Advisors LLC increased its holdings in Redfin by 9.8% in the 1st quarter. ProShare Advisors LLC now owns 19,876 shares of the company’s stock valued at $132,000 after buying an additional 1,766 shares during the period. Hollencrest Capital Management bought a new stake in Redfin in the 3rd quarter valued at $25,000. Finally, Financial Advocates Investment Management grew its holdings in shares of Redfin by 21.6% in the 3rd quarter. Financial Advocates Investment Management now owns 11,815 shares of the company’s stock worth $148,000 after purchasing an additional 2,100 shares during the last quarter. Institutional investors own 61.07% of the company’s stock.

Insider Activity at Redfin

In other Redfin news, insider Christian John Taubman sold 3,632 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $9.25, for a total value of $33,596.00. Following the sale, the insider now owns 71,720 shares of the company’s stock, valued at $663,410. The trade was a 4.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 4.40% of the company’s stock.

Redfin Company Profile

Redfin Corporation operates as a residential real estate brokerage company in the United States and Canada. The company operates an online real estate marketplace and provides real estate services, including assisting individuals in the purchase or sell of home. It also provides title and settlement services; and originates and sells mortgages.