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RDFN

Redfin

$18.49

0.48 (2.67%)

08:02
01/22/19
01/22
08:02
01/22/19
08:02

Redfin downgraded to Underperform from Neutral at DA Davidson

DA Davidson analyst Tom White downgraded Redfin to Underperform from Neutral and lowered his price target to $15.50 from $17, saying that while the company offers a "longer-term disruption" to the traditional real estate market, it faces near-term headwinds on revenue and profitability. Specifically, the analyst points to Redfin's continued declined in listings shares where the company offers a 1% seller commission, a softening in the U.S. residential real estate market, and "uncertain ROI from incremental marketing spend". White also lowers his FY19 EPS to (54c) from (52c).

RDFN Redfin
$18.49

0.48 (2.67%)

01/08/19
NEED
01/08/19
INITIATION
NEED
Underperform
Redfin initiated with an Underperform at Needham
Needham analyst Brad Erickson last night initiated coverage of Redfin with an Underperform rating without a price target. While Redfin is a market share gainer in the real estate brokerage industry, its "window for maintaining a premium valuation based on marketplace-driven growth is closing," Erickson wrote to investors in a research note. The analyst sees "multiple forces that will throttle" the company's growth or profitability. The stock is priced like a marketplace but Redfin is not really leveraging itself as one, claims Erickson. Further, he believes the company is unlikely to experience organic agent efficiency improvement. Shares of Redfin in early trading are down 40c, or 2.5%, to $15.40.
01/09/19
JEFF
01/09/19
DOWNGRADE
JEFF
Hold
Redfin downgraded to Hold from Buy at Jefferies
Jefferies analyst Brent Thill downgraded Redfin to Hold.
01/09/19
JEFF
01/09/19
DOWNGRADE
Target $17
JEFF
Hold
Jefferies downgrades Redfin to Hold on 'challenged' housing market
Jefferies analyst Brent Thill downgraded Redfin to Hold from Buy with an unchanged price target of $17. While the analyst remains "fundamental fans of Redfin's differentiated business model," he believes the "challenged" housing environment outweighs any fundamental strength in the business. He does not see a near-term catalyst to drive the stock higher.
01/18/19
JEFF
01/18/19
NO CHANGE
Target $17
JEFF
Hold
Housing data show continued weakness in Q4 for Redfin, says Jefferies
Jefferies analyst Brent Thill says December housing data points to continued macro challenges for Redfin. An 11% drop in transaction volume is the steepest decline in two-and-a-half years, while a 1.2% increase in home prices is the slowest growth seen in over six years, Thill tells investors in a research note. The analyst believes that while shares of Redfin are "de-risked a bit" after declining 32% in the last 12 months, the ongoing macro weakness could pressure the company's Q4 results and early 2019 outlook. However, if investors are willing to be patient, here is value in Redfin longer-term, says Thill. He keeps a Hold rating on the shares with a $17 price target.

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