Paymentus Posts Better-Than-Expected Earnings, Joins Dave, Honest Company, Natera, CAVA Group And Other Big Stocks Moving Higher On Wednesday

U.S. stocks were mixed, with the Nasdaq Composite falling around 50 points on Wednesday.

Shares of Paymentus Holdings, Inc. PAY rose sharply in today's session after the company reported better-than-expected third-quarter financial results and issued FY24 revenue guidance above estimates.

Also, Baird maintained an Outperform rating on the stock and raised its price target from $25 to $36.

Paymentus Holdings shares jumped 23.8% to $32.97 on Wednesday.

Here are some other big stocks recording gains in today's session.

• Jet.AI Inc. JTAI shares surged 56% to $10.36. Jet.AI's board approved $2 million share repurchase program through 2025 and announced withdrawal of S-1 registration.
• Dave Inc. DAVE shares jumped 46.8% to $92.19 after the company reported better-than-expected third-quarter adjusted EPS results and raised its FY24 sales guidance.
• Rocket Lab USA, Inc. RKLB gained 36% to $19.93 after the company reported better-than-expected quarterly financial results. The company also announced a multi-launch agreement with a confidential commercial satellite constellation operator and was awarded a federal defense contract worth up to $8 million.
• Paragon 28, Inc. FNA rose 34.8% to $10.20 following third-quarter results.
• The Honest Company, Inc. HNST gained 28.3% to $6.16 after the company reported better-than-expected quarterly sales results.
• Organogenesis Holdings Inc. ORGO gained 27.5% to $4.4000 following third-quarter results.
• Altus Power, Inc. AMPS gained 21.5% to $3.7788 after the company reported better-than-expected quarterly EPS and sales.
• Natera, Inc. NTRA gained 20% to $162.15 after the company reported better-than-expected third-quarter financial results and issued FY24 revenue guidance above estimates.
• Rivian Automotive, Inc. RIVN gained 15.3% to $12.19 after the company announced a joint venture launch with Volkswagen for a total deal size worth up to $5.8 billion.
• JetBlue Airways Corporation JBLU rose 15.3% to $7.28.
• Tower Semiconductor Ltd. TSEM gained 11.8% to $48.22 after the company reported better-than-expected quarterly financial results.
• James Hardie Industries plc JHX rose 9.9% to $34.93.
• CAVA Group, Inc. CAVA gained 9.1% to $158.26 after the company reported better-than-expected third-quarter financial results and raised its FY24 net new restaurant openings outlook and same sales growth.
• Albemarle Corporation ALB rose 7.1% to $110.09.
• Spotify Technology S.A. SPOT gained 6.9% to $448.39 following third-quarter earnings.

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