Redfin Corp. (RDFN) NDR Suggests Market Could Cool in 2022 - Piper Sandler

Piper Sandler analyst Tom Champion reiterated an Overweight rating and $70.00 price target on Redfin Corp. (NASDAQ: RDFN) after hosting investor meetings with CEO Kelman and CFO Nielsen, who discussed sustainable market share gains but 2022 being a year of overall market cooling.

The analyst stated "Comments suggest '22 could be a year for market normalization. Certain geographies that were strong earlier (like the sunbelt) are showing signs of weakness. Mr. Kelman sees positives including millennial entry into the housing market and continued migration off the coasts. But, this may be offset by rising rates and pricing coming back into balance."

For an analyst ratings summary and ratings history on Redfin Corp. click here. For more ratings news on Redfin Corp. click here.

Shares of Redfin Corp. closed at $44.29 yesterday.

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