JPMorgan Chase & Co. Issues Positive Forecast for Redfin (NASDAQ:RDFN) Stock Price

Redfin (NASDAQ:RDFN) had its price objective upped by JPMorgan Chase & Co. from $7.00 to $12.50 in a research note published on Monday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other research analysts have also weighed in on RDFN. B. Riley lowered Redfin from a “strong-buy” rating to a “hold” rating in a report on Monday, March 10th. Piper Sandler raised shares of Redfin from an “underweight” rating to a “neutral” rating and boosted their price objective for the company from $4.00 to $12.50 in a research note on Tuesday, March 11th. Zelman & Associates upgraded shares of Redfin to a “strong-buy” rating in a research note on Wednesday, March 5th. Susquehanna cut their price target on shares of Redfin from $10.00 to $7.00 and set a “neutral” rating for the company in a report on Monday, March 3rd. Finally, Gordon Haskett raised shares of Redfin to a “hold” rating in a report on Monday, March 10th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $10.03.

Redfin Price Performance

Redfin stock opened at $10.78 on Monday. The firm has a market capitalization of $1.36 billion, a P/E ratio of -8.42 and a beta of 2.90. Redfin has a one year low of $5.10 and a one year high of $15.29. The business has a fifty day moving average price of $8.50 and a 200-day moving average price of $9.46.

Hedge Funds Weigh In On Redfin

Several institutional investors have recently modified their holdings of RDFN. Charles Schwab Investment Management Inc. raised its stake in shares of Redfin by 10.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 998,284 shares of the company’s stock worth $12,508,000 after acquiring an additional 92,023 shares in the last quarter. Tidal Investments LLC purchased a new stake in Redfin during the 3rd quarter valued at about $10,650,000. Ballentine Partners LLC bought a new position in Redfin during the 4th quarter worth approximately $81,000. Geode Capital Management LLC increased its stake in Redfin by 2.2% in the 3rd quarter. Geode Capital Management LLC now owns 3,022,948 shares of the company’s stock worth $37,884,000 after purchasing an additional 66,018 shares during the period. Finally, BNP Paribas Financial Markets lifted its position in Redfin by 476.6% in the third quarter. BNP Paribas Financial Markets now owns 799,523 shares of the company’s stock valued at $10,018,000 after purchasing an additional 660,872 shares during the last quarter. 61.07% of the stock is currently owned by institutional investors.

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.