JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Redfin (NASDAQ:RDFN) Stock

Redfin (NASDAQ:RDFN) had its price objective upped by equities researchers at JPMorgan Chase & Co. from $7.00 to $12.50 in a research report issued on Monday,Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 13.22% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. Piper Sandler raised Redfin from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $4.00 to $12.50 in a research note on Tuesday, March 11th. Susquehanna reduced their price target on shares of Redfin from $10.00 to $7.00 and set a “neutral” rating on the stock in a research report on Monday, March 3rd. B. Riley cut shares of Redfin from a “strong-buy” rating to a “hold” rating in a report on Monday, March 10th. Needham & Company LLC reaffirmed a “hold” rating on shares of Redfin in a research note on Tuesday, March 11th. Finally, DA Davidson reissued a “neutral” rating and issued a $7.25 price target on shares of Redfin in a research report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $10.03.

Redfin Stock Down 1.3 %

Shares of NASDAQ RDFN opened at $11.04 on Monday. The business’s 50 day moving average is $8.43 and its two-hundred day moving average is $9.46. Redfin has a 52-week low of $5.10 and a 52-week high of $15.29. The firm has a market cap of $1.40 billion, a price-to-earnings ratio of -8.63 and a beta of 2.90.

Hedge Funds Weigh In On Redfin

Institutional investors and hedge funds have recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Redfin during the 4th quarter worth about $27,000. R Squared Ltd acquired a new stake in shares of Redfin during the 4th quarter worth about $33,000. US Bancorp DE lifted its stake in Redfin by 48.3% during the fourth quarter. US Bancorp DE now owns 5,522 shares of the company’s stock worth $43,000 after purchasing an additional 1,799 shares during the last quarter. Blue Trust Inc. boosted its holdings in Redfin by 76.3% in the fourth quarter. Blue Trust Inc. now owns 5,822 shares of the company’s stock valued at $46,000 after purchasing an additional 2,520 shares in the last quarter. Finally, Quest Partners LLC purchased a new position in Redfin in the third quarter valued at approximately $47,000. Institutional investors and hedge funds own 61.07% 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.