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Strength Seen in Better Home & Finance Holding Company (BETR): Can Its 28.5% Jump Turn into More Strength?
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Better Home & Finance Holding Company (BETR - Free Report) shares rallied 28.5% in the last trading session to close at $81.39. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 85.8% gain over the past four weeks.
Better Home & Finance Holding Company's share rose significantly, driven by the optimism surrounding the company’s recent positive developments in home equity products. The company reported a 166% year-over-year increase in home equity products, aiding in refinancing over $193 million in customer debt. Also, the company partnered with Finance of America Reverse LLC to offer home equity lines of credit and loans, expanding its product offerings and potentially increasing revenue streams. This might have boosted investor confidence in the BETR's prospects.
This company is expected to post quarterly loss of $1.75 per share in its upcoming report, which represents a year-over-year change of +45.8%. Revenues are expected to be $48.07 million, up 65.8% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Better Home & Finance Holding Company, 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 BETR going forward to see if this recent jump can turn into more strength down the road.
Better Home & Finance Holding Company belongs to the Zacks Financial - Mortgage & Related Services industry. Another stock from the same industry, Rocket Companies (RKT - Free Report) , closed the last trading session 2.8% higher at $17.13. Over the past month, RKT has returned -18.8%.
For Rocket Companies, the consensus EPS estimate for the upcoming report has changed +12.5% over the past month to $0.06. This represents a change of -25% from what the company reported a year ago. Rocket Companies currently has a Zacks Rank of #2 (Buy).
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Strength Seen in Better Home & Finance Holding Company (BETR): Can Its 28.5% Jump Turn into More Strength?
Better Home & Finance Holding Company (BETR - Free Report) shares rallied 28.5% in the last trading session to close at $81.39. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 85.8% gain over the past four weeks.
Better Home & Finance Holding Company's share rose significantly, driven by the optimism surrounding the company’s recent positive developments in home equity products. The company reported a 166% year-over-year increase in home equity products, aiding in refinancing over $193 million in customer debt. Also, the company partnered with Finance of America Reverse LLC to offer home equity lines of credit and loans, expanding its product offerings and potentially increasing revenue streams. This might have boosted investor confidence in the BETR's prospects.
This company is expected to post quarterly loss of $1.75 per share in its upcoming report, which represents a year-over-year change of +45.8%. Revenues are expected to be $48.07 million, up 65.8% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Better Home & Finance Holding Company, 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 BETR going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Better Home & Finance Holding Company belongs to the Zacks Financial - Mortgage & Related Services industry. Another stock from the same industry, Rocket Companies (RKT - Free Report) , closed the last trading session 2.8% higher at $17.13. Over the past month, RKT has returned -18.8%.
For Rocket Companies, the consensus EPS estimate for the upcoming report has changed +12.5% over the past month to $0.06. This represents a change of -25% from what the company reported a year ago. Rocket Companies currently has a Zacks Rank of #2 (Buy).