Why Concentrix Corporation (CNXC) Surged On Thursday?

We recently published a list of 10 Stocks Jump, Defy Market Uncertainties on Thursday. In this article, we are going to take a look at where Concentrix Corporation (NASDAQ:CNXC) stands against other stocks that jumped, defying market uncertainties on Thursday.

The stock market extended losses on Thursday, with all the major indices ending in the red as investors continued to sell off positions to minimize risks from the ongoing trade tensions globally.

The tech-heavy Nasdaq fell the hardest, down 0.53 percent, followed by the Dow Jones at 0.37 percent, and the S&P 500 at 0.33 percent.

The broader market decline was mainly weighed down by shares in automakers following President Donald Trump’s announcement of a 25-percent tariff on all vehicles imported to the US.

Meanwhile, 10 companies defied a broader market pessimism amid fresh company developments that buoyed buying appetite. Two gold miners were particularly notable as investors sought safer assets amid the economic uncertainties.

In this article, we listed Thursday’s 10 best performers and detailed the reasons behind their gains.

To come up with the list, we considered only the stocks with a $2-billion market capitalization and $5 million in trading volume.

A digital dashboard detailing customer experience/user experience data.

Concentrix Corporation (NASDAQ:CNXC)

Concentrix extended its winning streak for a fourth straight day on Thursday, soaring 42.38 percent to finish at $65.04 apiece following a strong earnings performance in the first quarter ending February 2025.

In a statement, CNXC said net income jumped by 35 percent to $70.2 million in the last quarter from the $52 million registered in the same period a year earlier.

Revenues, however, decreased by 1 percent to $2.37 billion from $2.4 billion year-on-year.

For the next quarter, CNXC said it expects revenues to settle between $2.37 billion and $2.39 billion, and between $9.49 billion and $9.63 billion for the full year.

“Our first quarter results demonstrate our progress as we win quality business and take advantage of GenAI opportunities, leveraging our unique technology and service capabilities to drive our clients’ success,” said CNXC President and CEO Chris Caldwell. “With a solid start to the year, we remain on track to deliver ongoing constant currency revenue growth, while expanding margins and growing free cash flow in 2025 and beyond.”

Overall, CNXC ranks 1st on our list of stocks that jumped, defying market uncertainties on Thursday. While we acknowledge the potential of CNXC 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 time frame. If you are looking for an AI stock that is as promising as CNXC but trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

Disclosure: None. This article is originally published at Insider Monkey.