CIBC started coverage on shares of Redfin Corp (NASDAQ:RDFN) in a research note issued to investors on Tuesday morning. The brokerage issued an outperform rating and a $31.00 price objective on the stock.
A number of other analysts also recently issued reports on the stock. Oppenheimer Holdings, Inc. assumed coverage on shares of Redfin Corp in a report on Tuesday. They set an outperform rating and a $31.00 price target on the stock. Bank of America Corporation reissued a neutral rating and set a $28.00 price target on shares of Redfin Corp in a report on Tuesday. Stifel Nicolaus assumed coverage on shares of Redfin Corp in a report on Tuesday. They set a hold rating and a $24.00 price target on the stock. Royal Bank Of Canada assumed coverage on shares of Redfin Corp in a report on Tuesday. They set a sector perform rating and a $28.00 price target on the stock. Finally, Goldman Sachs Group, Inc. (The) assumed coverage on shares of Redfin Corp in a report on Tuesday. They set a neutral rating and a $20.00 price target on the stock. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $27.00.
Shares of Redfin Corp (NASDAQ RDFN) opened at 25.27 on Tuesday. Redfin Corp has a one year low of $19.29 and a one year high of $33.49. The firm’s 50-day moving average is $24.65 and its 200-day moving average is $24.65. The company’s market cap is $1.78 billion.
In other news, major shareholder Tiger Global Management Llc purchased 260,000 shares of the stock in a transaction that occurred on Friday, July 28th. The shares were purchased at an average cost of $15.00 per share, with a total value of $3,900,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Redfin Corp Company Profile
Redfin Corporation is engaged in providing residential real estate brokerage services. The customer can search for homes by neighborhood, city or MLS number, or can refine results using detailed parameters, such as price and number of beds or baths. The Company serves home buyers and sellers. The Company offers online tools to consumers, including Redfin Estimate, which is an automated home-valuation tool.
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