Ten stocks ended the last trading day of the week boasting significant gains, as investors continued to digest a flurry of strong corporate earnings in the first quarter of the year.

The stocks defied a lackluster performance on Wall Street, with all three major indices ending in the red. The Nasdaq fell by 1.54 percent, the S&P 500 declined by 1.24 percent, while the Dow Jones was down by 1.07 percent.

In this article, we identify the 10 biggest performers on Friday and break down the reasons behind their gains.

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

10. UiPath Inc. (NYSE:PATH)

UiPath climbed for a second day on Friday, adding 6.20 percent to close at $10.27 apiece, as investors began positioning portfolios ahead of the results of its earnings performance for the fiscal year 2027.

The company is scheduled to announce its financial and operating highlights via a conference call after market close on May 28.

In its last earnings call, UiPath Inc. (NYSE:PATH) issued a 10.6 percent to 12 percent revenue growth target for the first quarter to a range of $395 million to $400 million, versus $357 million posted in the same period last year.

Annual recurring revenues (ARR) are projected to grow by 11.87 percent to 12.17 percent to a range of $1.894 billion to $1.899 billion, as compared with the $1.693 billion posted in the same comparable period.

Non-GAAP operating income, on the other hand, is targeted to be at $80 million, or a 14 percent jump from the $70 million posted year-on-year.

For the full fiscal 2027, UiPath Inc. (NYSE:PATH) expects revenues to be in the range of $1.754 billion to $1.759 billion, or an implied increase of 8.9 percent to 9.2 percent from the $1.6 billion in full fiscal 2026.

9. Freshworks Inc. (NASDAQ:FRSH)

Freshworks saw its share prices increase by 6.41 percent on Friday to finish at $8.96 apiece, as investor sentiment was bolstered by the launch of a significant upgrade to its AI-powered platform aimed at enabling business flexibility through agentic support to employees even outside working hours.

In an updated report, Freshworks Inc. (NASDAQ:FRSH) said that the new update orchestrates autonomous service with Freddy AI Agent Studio, allowing organizations to gain total flexibility to deploy AI on their own terms. Teams can create custom AI agents or start with pre-built, domain-specific AI agents to meet employee demands on Microsoft Teams, Slack, and other communication platforms.

Additionally, the upgrade allows managers to measure employee satisfaction with the support, not just whether tickets were closed quickly.

“The true measure of AI’s value isn’t what it can do, it’s what it gives back: time, focus, and the freedom for teams to stop fixing yesterday’s problems and start building what’s next,” Freshworks Inc. (NASDAQ:FRSH) Chief Product Officer Srini Raghavan said.

“Our unified ServiceOps foundation, activated with Freddy AI Agent Studio, is the antidote. It delivers immediate, controlled orchestration and the architectural agility to deploy AI in weeks, not quarters, allowing our customers to transform service at the speed their business demands.”

8. DexCom Inc. (NASDAQ:DXCM)

DexCom snapped a two-day loss on Friday, jumping 6.59 percent to close at $61.63 apiece, as investor sentiment was bolstered by its higher growth outlook for the full-year period.

At its investor day on Thursday, DexCom Inc. (NASDAQ:DXCM) announced an organic revenue growth target of 10 percent annually through 2030.

It also raised its non-GAAP gross margin outlook to a range of 67 to 69 percent, versus 63 to 64 percent targeted earlier, as well as its non-GAAP operating profit margin to 29 to 30 percent, versus 23 to 23.5 percent previously.

Adjusted EBITDA margin, on the other hand, was raised to 36 to 37 percent from 31 to 31.5 percent prior.

In other news, DexCom Inc. (NASDAQ:DXCM) also announced plans to add two more independent directors with experience in medical technology and operations following its collaboration with activist investor Elliott Investment Management LP, which also holds a significant stake in the company. This would bring the number of independent directors to six in total.

According to DexCom Inc. (NASDAQ:DXCM), it has begun the search for new board members with proven leadership in medical technology and operations.

“Our board is always focused on continual refreshment that adds the skills and experience that will take our company to the next level,” Lead Independent Director Mark Foletta said.

“We are excited to announce this plan to further bolster our board’s composition,” he noted.

7. AXT Inc. (NASDAQ:AXTI)

AXT Inc. bounced back by 7.65 percent on Friday to close at $123.78 apiece as investors resorted to bargain-hunting following three consecutive days of losses.

The rally was primarily driven by continued optimism for its stock, despite falling sharply in the previous trading day following the adjournment of its 2026 Annual Stockholders’ Meeting.

In a statement, AXT Inc. (NASDAQ:AXTI) announced that the shareholders’ meeting was rescheduled to June 4, 2026, at 11 AM Pacific Time (2 PM EDT), due to the lack of a required quorum.

In other news, AXT Inc. (NASDAQ:AXTI) recently announced improvements to its earnings performance in the first quarter of the year.

During the period, the company slashed its attributable net loss by 81 percent to $1.62 million from $8.798 million in the same period last year, amid an 84 percent decrease in operating loss, at $1.585 million versus $10.275 million year-on-year.

Revenues also surged by 39 percent to $26.9 million from $19.3 million year-on-year.

Looking ahead, AXT Inc. (NASDAQ:AXTI) posted a highly optimistic outlook about its business, with the company expecting to ride the booming artificial intelligence industry through a strong demand from data center operators.

“As the market continues to grow, capacity will become a critical enabler. Longer-term capacity planning is one of the most important discussions we are having today with customers and major supply chain players in our space. The message we have for them is this: AXT is stepping up. We believe we are in the best position to support and enable our industry in meeting the current and future needs,” CEO Morris Young said.

6. Atlassian Corp. (NASDAQ:TEAM)

Atlassian saw its share prices jump by 8.16 percent on Friday to close at $87.46 apiece, as investors gobbled up shares after an analyst reiterated its bullish rating for its stock.

In a market note during the day, Truist Financial reiterated its buy recommendation and $100 price target for shares of Atlassian Corp. (NASDAQ:TEAM), representing a 14 percent upside potential from its latest closing price.

According to Truist, the coverage reflected its belief that Atlassian Corp. (NASDAQ:TEAM) is well-positioned to serve as a provider of enterprise context for AI applications, and that its strategy would focus on adding proprietary context on top of tokens using a consumption-based model.

In other news, the company widened its net loss for the third quarter of fiscal year 2026 by 38 percent to $98 million from $70.8 million in the same period last year, on the back of a 760-percent increase in loss before income taxes, at $62.79 million versus $7.3 million year-on-year.

Total revenues, on the other hand, increased by 31.6 percent to $1.79 billion from $1.36 billion year-on-year, thanks to larger long-term commitments from its customers.

For the fourth quarter ending June, Atlassian Corp. (NASDAQ:TEAM) expects revenues to be in the range of $1.653 billion to $1.661 billion, or an implied jump of 19 percent to 20 percent from the $1.384 billion in the same period last year.

Revenues for the full fiscal year is expected to grow by 24 percent from $5.2 billion year-on-year.

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