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).

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