Why Dollar Tree, Inc. (DLTR) Soared On Thursday

We recently published a list of 10 Stocks With Surprising Gains. In this article, we are going to take a look at where Dollar Tree, Inc. (NASDAQ:DLTR) stands against other best-performing stocks on Thursday.

Dollar Tree rebounded by 9.08 percent on Thursday to finish at $96.67 apiece as investors resorted to bargain-hunting following the previous day’s drop.

Dollar Tree, Inc. (NASDAQ:DLTR), which originally targets the low-income households, announced on Wednesday that it is seeing an increasing number of high-income class households checking out their products.

Why Dollar Tree, Inc. (DLTR) Soared On Thursday

A shopper browsing through a discount retailers merchandise aisle filled with a wide variety of items.

In the first quarter of the year, Dollar Tree, Inc. (NASDAQ:DLTR) grew its net income by 14.4 percent to $343.4 million from $300.1 million in the same period last year. Revenues also increased by 10 percent to $4.6 billion from $4.17 billion year-on-year.

Its strong performance reaffirmed the company’s optimism for the rest of the year.

According to Dollar Tree, Inc. (NASDAQ:DLTR), it is maintaining its net sales outlook of $18.5 billion to $19.1 billion, based on comparable store net sales growth in the range of 3 percent to 5 percent.

For the second quarter alone, comparable net sales growth are expected to hit the higher end of its previous 3-5 percent growth outlook.

Overall, DLTR ranks 7th on our list of best-performing stocks on Thursday. While we acknowledge the potential of DLTR as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term 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.