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RDFN

Redfin

$16.72

-0.3 (-1.76%)

, RMAX

RE/MAX Holdings

$36.99

-0.32 (-0.86%)

16:37
05/13/19
05/13
16:37
05/13/19
16:37

Redfin discloses end of its partnership with Re/Max

Redfin (RDFN) states: "RE/MAX (RMAX) withdrew today from its corporate partnership with Redfin. RE/MAX agents who already work as Redfin's partner agents will continue to be our partners, and RE/MAX agents can continue to enroll in our partner program, but Redfin can now enroll partner agents from other brokerages to serve Redfin.com visitors in the U.S. and Canada. At issue between RE/MAX and Redfin has been Redfin Direct, the new service we're piloting in Boston for Redfin's listing customers to get offers from unrepresented buyers. We had briefed RE/MAX on the technology prior to announcing the partnership, but RE/MAX became concerned that Redfin Direct would undermine the standing of North American buyers' agents. Redfin understands this concern, as we employ thousands of licensed professionals and believe the vast majority of homebuyers need professional advice, and will happily pay for it. But we also have a duty to get as many offers for our customers' listings as we possibly can, and to give those listing customers the best value. We believe in consumer choices; our mission is to redefine real estate in consumers' favor."

RDFN

Redfin

$16.72

-0.3 (-1.76%)

RMAX

RE/MAX Holdings

$36.99

-0.32 (-0.86%)

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RDFN Redfin
$16.72

-0.3 (-1.76%)

04/12/19
WEDB
04/12/19
INITIATION
Target $30
WEDB
Outperform
Redfin initiated with an Outperform at Wedbush
Wedbush analyst Ygal Arounian initiated Redfin with an Outperform rating and $30 price target, saying he views Redfin as a residential real estate brokerage with a fundamentally different relationship with technology that will enable it to better capture market sharein a rapidly evolving landscape. Despite outperformance this year, he sees continued upside to shares as he views Redfin as well positioned to gain share in a better-than-feared residential real estate market.
04/12/19
04/12/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Redfin (RDFN) initiated with an Outperform at Wedbush. 2. Autodesk (ADSK) initiated with a Buy at Mizuho. 3. Upwork (UPWK) initiated with a Buy at BTIG. 4. Otter Tail (OTTR) initiated with a Buy at Maxim. 5. Disney (DIS) reinstated with an Overweight at JPMorgan. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
04/15/19
PIPR
04/15/19
NO CHANGE
PIPR
Piper says FinTech secular drives 'remain strong' into Q1 results
While absolute and relative valuations in FinTech are back near the all-time highs, the Federal Reserve "has moved from a headwind last Fall to a Neutral factor for economic growth and equity valuations," Piper Jaffray analyst Jason Deleeuw tells investors in a research note. Also, the ongoing secular drivers for FinTech "remain strong" as global payments and business ecosystems digitize, says the analyst. He remains constructive on FinTech names heading into Q1 earnings and also tells investors to look at some mortgage/real estate services stocks. Deleeuw's top ideas are Black Knight (BKI), Redfin (RDFN), Euronet (EEFT) and Cannae Holdings (CNNE). He also boosted his price target for Overweight-rated Euronet to $171 from $159, for Overweight-rated Global Payments (GPN) to $163 from $152, for Overweight-rated MasterCard (MA) to $272 from $262, for Neutral-rated PayPal (PYPL) to $104 from $97, for Overweight-rated Visa (V) to $191 from $178 and for Neutral-rated Worldpay (WP) to $115 from $101.
05/09/19
COMP
05/09/19
DOWNGRADE
COMP
Neutral
Redfin downgraded to Neutral from Buy at Compass Point
Compass Point analyst Chris Gamaitoni downgraded Redfin to Neutral from Buy.
RMAX RE/MAX Holdings
$36.99

-0.32 (-0.86%)

03/15/19
PIPR
03/15/19
NO CHANGE
Target $48
PIPR
Overweight
Piper remains bullish on shares of RE/MAX Holdings
After spending time with management, Piper Jaffray analyst Jason Deleeuw remains bullish on the RE/MAX Holdings stock story. The real estate brokerage space is experiencing significant disruption from an influx of capital and technology, but RE/MAX continues to have strong competitive positioning and durable growth, Deleeuw tells investors in a research note. He sees the company as an attractive small cap growth idea and reiterates an Overweight rating on the shares with a $48 price target.
03/19/19
WBLR
03/19/19
NO CHANGE
WBLR
RE/MAX, Redfin partnership mutually beneficial, says William Blair
The exclusive referral partnership announced last night by RE/MAX Holdings (RMAX) and Redfin (RDFN) should be mutually beneficial and makes a lot of sense strategically, William Blair analyst Stephen Sheldon tells investors in a research note. The arrangement appears to be a positive development for RE/MAX, and does not appear to have any notable downside, adds the analyst. He feels the partnership is a good sign for the company's overall market position, noting Redfin specifically approached RE/MAX for the arrangement, likely in part due to its leading brokerage position in Canada. Sheldon admits, however, that it is tough to predict any potential financial impact at this point. He has an Outperform rating on RE/MAX and Market Perform rating on Redfin.
05/03/19
CHLM
05/03/19
DOWNGRADE
CHLM
Hold
RE/MAX Holdings downgraded to Hold from Buy at Craig-Hallum
05/03/19
CHLM
05/03/19
DOWNGRADE
Target $40
CHLM
Hold
Craig-Hallum downgrades RE/MAX to Hold, says 'dead money' in 2019
Craig-Hallum analyst Bradley Berning downgraded RE/MAX Holdings to Hold from Buy and lowered his price target for the shares to $40 from $50 following the company's Q1 results. The stock in afternoon trading is down 7% to $38.52. Competition and the mixed housing environment continue to pressure agent count growth, Berning tells investors in a research note. The analyst believes RE/MAX shares will be "dead money" for the remainder of 2019 given the company's struggles to recruit agents in the U.S. This will likely not materially improve until 2020 when RE/MAX has fully rolled out an updated agent platform via booj, says Berning.

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