JPMorgan Chase & Co. Increases Redfin (NASDAQ:RDFN) Price Target to $12.50

Redfin (NASDAQ:RDFN) had its target price raised by analysts at JPMorgan Chase & Co. from $7.00 to $12.50 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 13.22% from the stock’s current price.

RDFN has been the subject of a number of other reports. Susquehanna reduced their price objective on shares of Redfin from $10.00 to $7.00 and set a “neutral” rating for the company in a research report on Monday, March 3rd. DA Davidson restated a “neutral” rating and set a $7.25 price target on shares of Redfin in a research report on Wednesday, February 19th. Zelman & Associates upgraded Redfin to a “strong-buy” rating in a report on Wednesday, March 5th. Piper Sandler raised Redfin from an “underweight” rating to a “neutral” rating and increased their target price for the company from $4.00 to $12.50 in a report on Tuesday, March 11th. Finally, Gordon Haskett raised Redfin to a “hold” rating in a research note on Monday, March 10th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $10.03.

Redfin Price Performance

Shares of RDFN stock opened at $11.04 on Monday. Redfin has a 1-year low of $5.10 and a 1-year high of $15.29. The company has a market cap of $1.40 billion, a price-to-earnings ratio of -8.63 and a beta of 2.90. The stock has a 50 day simple moving average of $8.43 and a 200-day simple moving average of $9.46.

Hedge Funds Weigh In On Redfin

A number of institutional investors have recently bought and sold shares of RDFN. Hennessy Advisors Inc. purchased a new stake in shares of Redfin during the 4th quarter valued at approximately $40,109,000. Geode Capital Management LLC increased its stake in Redfin by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 3,079,813 shares of the company’s stock worth $24,243,000 after acquiring an additional 56,865 shares during the last quarter. Two Sigma Advisers LP raised its position in Redfin by 17.4% in the fourth quarter. Two Sigma Advisers LP now owns 2,524,100 shares of the company’s stock valued at $19,865,000 after purchasing an additional 374,200 shares during the period. Northern Trust Corp lifted its stake in shares of Redfin by 11.0% in the 4th quarter. Northern Trust Corp now owns 1,147,666 shares of the company’s stock valued at $9,032,000 after purchasing an additional 113,466 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Redfin by 2.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,021,905 shares of the company’s stock worth $8,042,000 after purchasing an additional 23,621 shares during the period. 61.07% of the stock is owned by hedge funds and other 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.