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We recently published a list of These 10 Stocks Led Rally on Wednesday. In this article, we are going to take a look at where Kanzhun Ltd. (NASDAQ:BZ) stands against other stocks that led rally on Wednesday.
Ten companies led the charge on Wednesday, bucking a mostly pessimistic broader market, on the back of better outlook, positive earnings performance, and news of government support.
Wall Street’s main indices finished mix, with the Dow Jones and S&P 500 declining 0.50 percent and 0.27 percent, respectively. Nasdaq was the sole gainer, albeit inching up only 0.03 percent during the day.
In this article, we will explore the reasons behind the 10 firms’ strong performance. To come up with Wednesday’s top gainers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.
A businessperson in business attire writing a job post on their laptop.
Kanzhun Ltd. (NASDAQ:BZ)
Share prices of Kanzhun Ltd. grew by 8.44 percent on Wednesday as investors placed bets on the company’s stock over a bullish growth outlook.
According to a recent report by investment research firm Zack Research, the consensus growth outlook for BZ inched higher by 0.7 percent over the past quarter, suggesting that analyst sentiment has improved and that the company’s earnings outlook is even stronger.
This year alone, BZ already saw its valuation increase by 16.35 percent, outpacing the technology sector’s 0.70 percent year-to-date rally.
It is worth noting that BZ has beat analysts’ earnings estimates over the past three quarters. By next month, investors will be watching out for cues on whether the company will be able to sustain consensus growth.
BZ operates as a Chinese human resources company providing online recruitment services through its mobile application, BOSS Zhipin.
Overall, BZ ranks 10th on our list of stocks that led rally on Wednesday. While we acknowledge the potential of BZ as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as BZ but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.