Why Compass, Inc. (COMP) Is Among Wednesday’s Top Gainers?

We recently published a list of Bitcoin Miners, Quantum Computing Lead Rally: A Look at Wednesday’s Top 10 Gainers. In this article, we are going to take a look at where Compass, Inc. (NYSE:COMP) stands among Wednesday’s top gainers that lead rally.

Wall Street’s main indices closed in the green territory on Wednesday, posting gains of more than 1 percent as investors cheered news of a tamed inflation rate for November.

The Dow Jones jumped by 1.65 percent, while the S&P 500 surged by 1.83 percent. Meanwhile, the Nasdaq Composite index soared 2.45 percent.

Ten companies mirrored the broader market optimism, led by the quantum computing and bitcoin mining sectors. Today, let’s take a look at what buoyed investor sentiment for each of the top gainers.

To come up with Wednesday’s top advancers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.

An excited real estate broker discussing with a couple interested in buying a home.

Compass, Inc. (NYSE:COMP)

Real estate brokerage firm Compass, Inc. (NYSE:COMP) saw its share prices jump by 19.25 percent on Wednesday to finish at $6.66 apiece after it boosted its earnings guidance for the fourth quarter and full year 2024.

The company said it now expects fourth-quarter revenues to settle between $1.36 billion to $1.39 billion and adjusted EBITDA between $15 million to $18 million. It previously anticipated revenues of $1.225 billion to $1.325 billion and adjusted EBITDA of $0 to $10 million.

In addition, the company expects full-year revenues to end between $5.61 billion to $5.64 billion and adjusted EBITDA of $124 million to $127 million. Its earlier outlook was for revenue of $5.47 billion to $5.57 billion and adjusted EBITDA of $109 million to $119 million.

Overall, COMP ranks 3rd on our list of Wednesday’s top gainers that lead rally. While we acknowledge the potential of COMP as a leading investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is as promising as COMP 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.