RDFN

Gordon Haskett Downgrades Redfin (RDFN)

Fintel reports that on February 29, 2024, Gordon Haskett downgraded their outlook for Redfin (NasdaqGS:RDFN) from Hold to Underperform .

Analyst Price Forecast Suggests 12.65% Upside

As of February 24, 2024, the average one-year price target for Redfin is 7.89. The forecasts range from a low of 4.04 to a high of $11.02. The average price target represents an increase of 12.65% from its latest reported closing price of 7.00.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Redfin is 1,164MM, an increase of 19.18%. The projected annual non-GAAP EPS is -0.97.

What is the Fund Sentiment?

There are 425 funds or institutions reporting positions in Redfin. This is an increase of 14 owner(s) or 3.41% in the last quarter. Average portfolio weight of all funds dedicated to RDFN is 0.05%, a decrease of 13.61%. Total shares owned by institutions decreased in the last three months by 13.40% to 76,871K shares. RDFN / Redfin Corporation Put/Call Ratios The put/call ratio of RDFN is 1.14, indicating a bearish outlook.

What are Other Shareholders Doing?

RDFN / Redfin Corporation Shares Held by Institutions

VGSIX - Vanguard Real Estate Index Fund Investor Shares holds 4,224K shares representing 3.67% ownership of the company. In it's prior filing, the firm reported owning 4,275K shares, representing a decrease of 1.21%. The firm decreased its portfolio allocation in RDFN by 63.50% over the last quarter.

VWUSX - Vanguard U.S. Growth Fund Investor Shares holds 4,176K shares representing 3.62% ownership of the company. In it's prior filing, the firm reported owning 4,449K shares, representing a decrease of 6.54%. The firm decreased its portfolio allocation in RDFN by 12.51% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 3,311K shares representing 2.87% ownership of the company. In it's prior filing, the firm reported owning 3,244K shares, representing an increase of 2.04%. The firm decreased its portfolio allocation in RDFN by 39.94% over the last quarter.

Marshall Wace, Llp holds 3,297K shares representing 2.86% ownership of the company. In it's prior filing, the firm reported owning 806K shares, representing an increase of 75.55%. The firm increased its portfolio allocation in RDFN by 214.83% over the last quarter.

Goldman Sachs Group holds 3,056K shares representing 2.65% ownership of the company. In it's prior filing, the firm reported owning 1,260K shares, representing an increase of 58.76%. The firm decreased its portfolio allocation in RDFN by 16.25% over the last quarter.

Redfin Background Information
(This description is provided by the company.)

Redfin is a technology-powered real estate broker, instant home-buyer (iBuyer), lender, title insurer, and renovations company. The Company sells homes for more money and charge half the fee. It also runs the country's #1 real-estate brokerage site. Its home-buying customers see homes first with on-demand tours, and its lending and title services help them close quickly. Customers selling a home can take an instant cash offer from Redfin or have its renovations crew fix up their home to sell for top dollar. Since launching in 2006, Redfin has saved customers nearly $1 billion in commissions. It serves more than 95 markets across the U.S. and Canada and employ over 4,100 people.

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This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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