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Berenberg Bank Keeps Their Hold Rating on Redfin (RDFN)

In a report released yesterday, Justin Ages from Berenberg Bank maintained a Hold rating on Redfin (RDFNResearch Report), with a price target of $5.00. The company’s shares closed yesterday at $4.82.

Ages covers the Financial sector, focusing on stocks such as Anywhere Real Estate ate, Re/Max Holdings, and Zillow Group Class C. According to TipRanks, Ages has an average return of -27.2% and a 14.29% success rate on recommended stocks.

In addition to Berenberg Bank, Redfin also received a Hold from Wedbush’s Jay McCanless in a report issued on November 10. However, on the same day, Compass Point downgraded Redfin (NASDAQ: RDFN) to a Sell.

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Based on Redfin’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $600.52 million and a GAAP net loss of $90.25 million. In comparison, last year the company earned a revenue of $540.07 million and had a GAAP net loss of $18.95 million

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Redfin Corp. provides real estate brokerage services. The firm engages in buying and selling homes. It operates through the following segments: Real Estate Services and Properties. The Real Estate Services segment consists of revenue transactions. The Properties segment consists of home purchase costs, capitalized improvements, selling expenses and home maintenance expenses. The company was founded by David Selinger, David Eraker, and Michael Dougherty in 2004 and is headquartered in Seattle, WA.

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