Redfin (RDFN) Moves 8.7% Higher: Will This Strength Last?

Redfin RDFN shares ended the last trading session 8.7% higher at $8.64. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 7.9% gain over the past four weeks.The increased investor optimism in the stock can be attributed to its recent announcement of forming a strategic partnership with Zillow. After the collaboration, Zillow will become the exclusive provider of multifamily rental listings on Redfin and its associated rental sites, including Rent.com and ApartmentGuide.com.This real estate broker is expected to post quarterly loss of $0.24 per share in its upcoming report, which represents a year-over-year change of -20%. Revenues are expected to be $241.99 million, up 11% from the year-ago quarter.Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.For Redfin, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on RDFN going forward to see if this recent jump can turn into more strength down the road.The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Redfin belongs to the Zacks Real Estate - Operations industry. Another stock from the same industry, RE/MAX RMAX, closed the last trading session 1.3% lower at $9.80. Over the past month, RMAX has returned 7.4%.For RE/MAX, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.28. This represents a change of -6.7% from what the company reported a year ago. RE/MAX currently has a Zacks Rank of #4 (Sell).Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is among the most innovative financial firms. With a fast-growing customer base (already 50+ million) and a diverse set of cutting edge solutions, this stock is poised for big gains. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Redfin Corporation (RDFN): Free Stock Analysis Report RE/MAX Holdings, Inc. (RMAX): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks