TipRanks has compiled a list of Friday’s biggest pre-market stock movements.
Mixed market sentiment driven by earnings releases along with inflation data released on Thursday has dominated today’s stock market.
Using TipRanks’ new Top Stock Gainers/Losers page, we’ve identified the top 5 pre-market stock movers, as detailed below.
5 Biggest Movers
Online real-estate marketplace company Zillow Group, Inc. (ZG) was the biggest gainer in the pre-market session, jumping around 14% at the time of writing. The company reported upbeat fourth-quarter 2021 revenue of $3.9 billion, above the consensus estimate of $2.69 billion. For Q1 2022, the company forecasts revenue in the range of $3.123-$3.443 billion.
Meanwhile, Confluent, Inc. (CFLT) had dropped 11.2% in pre-market trading at last watch despite better-than-expected fourth-quarter 2021 results and upbeat revenue guidance for 2022. For 2022, the company expects a loss in the range of $0.82-$0.74 per share versus the consensus-estimated loss of $0.79 per share. Revenue is expected to range between $538-$546 million, above analysts’ expectations of $516 million. Confluent provides a new category of data infrastructure designed to connect the applications, systems, and data layers of a company around a real-time central nervous system.
Affirm Holdings, Inc. (AFRM) was down around 9.6% at the time of writing in the pre-market session. A wider-than-feared second-quarter Fiscal 2022 loss and disappointing revenue guidance for Fiscal Q3 2022 raised investor concerns. For the third quarter, the company forecasts revenue of $325-$335 million versus the consensus estimate of $330 million. For Fiscal 2022, revenue is projected in the range of $1.29-1.31 billion, above analyst expectations of $1.28 billion.
Real estate brokerage Redfin Corporation (RDFN) surged 8.8% at the time of writing. Positive sentiment followed a recent report about a 25% year-over-year increase to record highs of $1,931 in estimated monthly mortgage payments for homes for sale.
Upwork Inc. (UPWK) rounded off the list. It had lost around 7% in the pre-market trading session at last watch. The freelancing platform swung to a net loss in the fourth quarter of 2021. Additionally, the company provided disappointing Q1 2022 revenue guidance of between $139 million and $141 million versus the consensus estimate of $139.04 million. An adjusted loss is projected in the range of $0.11 – $0.13 per share, compared with the Street’s estimated loss of $0.09 per share.
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