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Stock Watch: Analyst Recommendation Lifts Homestore.com

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Stock Watch: Analyst Recommendation Lifts Homestore.com

By Nora Macaluso
E-Commerce Times
08/08/00 12:00 AM PT


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Homestore.com (Nasdaq: HOMS) gained 2 1/2 to 33 1/8 Monday following reports that Wit SoundView analysts began coverage of the stock with a buy rating.

The online real estate company recently reported a narrower loss for the second quarter, as revenue rose 252 percent. The firm also said it expects to turn a profit in the fourth quarter.

Homestore has an alliance with America Online that makes it the exclusive national provider of home and real estate services for AOL. The two are also developing a new home channel for AOL.

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