The past trading week saw a more calm, generally optimistic, market environment amid the temporary pause in tit-for-tat tariffs, buoyed further by a flurry of corporate earnings for the first quarter of the year.
On a week-on-week basis, the tech-heavy Nasdaq rallied the most, up 3.4 percent, followed by the Dow Jones with 3 percent, and the S&P 500 by 2.9 percent.
Beyond the major indices, 10 firms stood out, booking double-digit gains as high as 48 percent, thanks to better-than-expected earnings and outlook.
In this article, we name this week’s 10 best-performing mid-cap companies and detail 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 trading volume. The stocks were chosen based on the highest percentage increase in closing prices on May 2 as against their prices a week earlier, or on April 25.
Photo by Yan Krukau/Pexels
10. DexCom Inc. (NASDAQ:DXCM)
DexCom Inc., an American healthcare company, saw its share prices jump by 13.9 percent during the past trading week, closing at $81.62 last Friday versus the $71.66 the week prior, after reaffirming its revenue guidance and reporting robust sales in the first quarter of the year.
In a statement, DexCom Inc. (NASDAQ:DXCM) reiterated its target 14-percent revenue growth for the full year 2025 at $4.6 billion, as the company readies itself with the launch of its Dexcom G7 15 Day system, a small wearable sensor that sends accurate and real-time glucose readings.
In the first three months of the year, DexCom Inc. (NASDAQ:DXCM) reported a 28-percent decline in its net income at $105.4 million versus the $146.4 million registered in the same period last year.
However, revenues increased by 12.49 percent to $1.036 billion from $921 million year-on-year.
9. Wayfair Inc. (NYSE:W)
Wayfair grew its share prices by 15.08 percent week-on-week at $33.66 on Friday versus the $29.25 a week earlier as investor sentiment was boosted by a generally strong earnings performance in the first quarter of the year.
In a statement, Wayfair Inc. (NYSE:W) said it was able to narrow its net loss by 54 percent to $113 million from 248 million in the same period last year.
Net revenues, on the other hand, inched up by only $1 million to $2.730 billion from $2.729 billion year-on-year.
Looking ahead, the company said that the ongoing tariff policies would continue to be its key focus, especially as Wayfair sources a huge chunk of its products globally, including China.
“While there’s a lot of uncertainty in the broader economy, we have direct line of sight and strong conviction on what we need to do for both our customers and our suppliers,” said Wayfair CEO Niraj Shah.
8. Arista Networks Inc. (NYSE:ANET)
Arista Networks has seen strong investor confidence over the past two trading weeks, marked by nine consecutive days of gains.
In the past trading week alone, shares of Arista Networks Inc. (NYSE:ANET) surged by 16.8 percent to close Friday at $91.02 apiece versus the $77.91 finish on April 25, on the back of bullish outlooks from investment firms.
For its part, Morgan Stanley raised its price target for Arista Networks Inc (NYSE:ANET) by 37 percent to $100 from $73 previously while maintaining its “overweight” rating on the stock.
Meanwhile, Rosenblatt Securities upgraded Arista Networks Inc. (NYSE:ANET) to Neutral from Sell previously, underscoring the latter’s potential to withstand a macroeconomic slowdown, with the second half of 2025 and 2026 forecasts appearing resilient.
Arista Networks Inc. (NYSE:ANET) is scheduled to release the results of its first quarter earnings performance after market close on Tuesday, May 6, 2025.
7. Aurora Innovation Inc. (NASDAQ:AUR)
Aurora Innovation soared by 18.3 percent week-on-week to close Friday at $8.14 versus the $6.88 recorded on April 25, as investors cheered the successful launch of its driverless trucks in Texas.
According to the company, it began regular driverless customer deliveries between Dallas and Houston this week, completing more than 1,200 miles without a driver.
This milestone made Aurora Innovation, Inc. (NASDAQ:AUR) the first company to operate a commercial self-driving service with heavy-duty trucks on public roads.
“Riding in the back seat for our inaugural trip was an honor of a lifetime – the Aurora Driver performed perfectly and it’s a moment I’ll never forget,” said Aurora Innovation, Inc. (NASDAQ:AUR) CEO Chris Urmson.
“Our commitment to building a transformative technology, earning trust, and assembling a strong ecosystem of customers and partners has made this pivotal milestone possible,” he added.
The company also plans to expand its driverless service to El Paso, Texas, and Phoenix, Arizona by the end of the year.
6. Summit Therapeutics Inc. (NASDAQ:SMMT)
Summit Therapeutics grew its share price by 18.88 percent last week to end Friday at $27.9 versus the $23.47 the week prior, as investor sentiment was boosted by an investment firm’s bullish outlook despite the company’s disappointing earnings performance in the first quarter of the year.
In its market note, Cantor Fitzgerald reaffirmed its Overweight rating on Summit Therapeutics Inc. (NASDAQ:SMMT) stock, thanks to its promising ivonescimab bispecific antibody, which aims to cure cancer.
Just recently, Summit Therapeutics Inc. (NASDAQ:SMMT) secured the green light from China to offer ivonescimab as a first-line treatment for PD-L1-positive NSCLC, paving the way for further expansion globally.
“We … appreciate the regulatory authorities for their efficient and diligent review, which enables us to offer this new treatment to patients in China,” the company said.
In the first quarter, Summit Therapeutics Inc. (NASDAQ:SMMT) widened its net loss by 44.6 percent to $62.9 million from $43.5 million in the same period last year, as operating expenses picked up by 57.5 percent to $66.8 million from $42.4 million year-on-year.
5. Carrier Global Corporation (NYSE:CARR)
Carrier Global grew its share prices by 19.1 percent week-on-week to end Friday at $71.53 versus the $60.06 finish on April 25 following its robust earnings performance and bullish outlooks from investment firms.
In a statement earlier, Carrier Global Corporation (NYSE:CARR) said that net income attributable to shareholders surged by 53 percent to $412 million from $269 million reported in the same period last year, despite net sales dipping by 3.7 percent to $5.218 billion from $5.420 billion year-on-year.
It also raised its full-year guidance amid an expected strong demand for its heating, ventilating, and air conditioning (HVAC) products and aftermarket repair services. For the full year, the company expects its sales to settle at $23 billion, as compared with the range of $22.5 billion to $23 billion previously.
Meanwhile, analysts from Oppenheimer maintained their Outperform rating on Carrier Global Corporation’s (NYSE:CARR) stock and raised their price target for the latter to $85 from $73 previously.
Mizuho Securities, for its part, also raised the price target for the company to $80 from $72 previously.
4. Hesai Group (NASDAQ:HSAI)
Hesai Group surged by 19.5 percent week-on-week to end Friday’s session at $18.29 versus the $15.30 close a week earlier, as investors gobbled up shares in the company following news that it was aggressively expanding its production by fourfold this year.
Last week, Hesai Group (NASDAQ:HSAI) founder and CEO David Li Yifan said that the company will expand its manufacturing capacity to 2 million units this year from 502,000 units last year to keep up with the strong demand for its products used in driver-assistance systems in cars.
“We can guarantee capacity expansion to 2 million units within a few months,” he was quoted as saying at a media briefing. “Supply chain will not be an issue. For us, it is just a matter of building more facilities.”
In other news, Hesai Group (NASDAQ:HSAI) recently launched the Infinity Eye, a lidar solution for level 2 to 4 autonomous driving.
According to the company, the new technology includes three configurations—Infinity Eye A, B, and C—each tailored to meet the specific requirements of L4+ high-level autonomous systems, L3 conditional autonomous driving, and L2 assisted driving, respectively.
3. CoreWeave, Inc. (NASDAQ:CRWV)
CoreWeave saw its share prices soar by 24.14 percent week-on-week to close Friday’s trading at $51.57 versus the $41.54 finish on April 25 as news from its largest client that it would raise its capital expenditures this year sparked buying interest in the company.
Earlier this week, Microsoft Corporation (NASDAQ:MSFT) reported better-than-expected cloud sales and announced plans to spend $80 billion for fiscal year 2025 as it aggressively expands on artificial intelligence.
The news sparked investor hopes that any increase could impact its contracts with CoreWeave, Inc. (NASDAQ:CRWV).
Apart from MSFT, another large client, Meta Platforms Inc. (NASDAQ:META), also announced a higher budget allocation for this year, between $64 billion and $72 billion.
2. Hims & Hers Health, Inc. (NYSE:HIMS)
Hims & Hers jumped by 45.3 percent week-on-week to end at $40.82 on Friday, versus the $28.09 the week prior, as news that it clinched a long-term partnership with Novo Nordisk sparked buying appetite while investors repositioned portfolios ahead of its first quarter earnings performance.
According to the company, it will announce its earnings results after the market closes on Monday, May 5, 2025, where investors will be closely watching out for its updated outlook guidance for the rest of the year.
In recent news, Hims & Hers Health, Inc. (NYSE:HIMS) clinched a long-term deal with Novo Nordisk to jointly market the latter’s blockbuster weight loss drug, Wegovy.
With the partnership, the company said that Americans can now access NovoCare Pharmacy directly through its platform, with a bundled offering of all dose strengths of Wegovy and a Hims & Hers membership, including access to 24/7 care, ongoing clinical support, and nutrition guidance, among others.
It can be learned that HIMS used to make a compounded knock-off version of the treatment that helped propel its sales over the past few years. It was later discontinued after the Food and Drug Administration announced that Novo Nordisk had already produced a sufficient supply of the treatment.
1. Pony AI Inc. (NASDAQ:PONY)
Pony AI saw its share prices skyrocket by 48.3 percent week-on-week to end at $10.40 on Friday, versus the $7.01 on April 25, ahead of the release of its first quarter earnings performance and recent news that it was making a foray into the robotaxi industry.
According to Pony AI Inc. (NASDAQ:PONY), it is scheduled to release the results of its earnings performance before the market opens on Tuesday, May 20, 2025.
Apart from its earnings results and outlook for the year, investors will be closely watching for more concrete updates about its robotaxi entry.
In recent news, Pony AI Inc. (NASDAQ:PONY) said that it was setting its sights on the robotaxi sector, especially since it is now able to build its autonomous driving system for 70 percent less.
Pony AI Inc. (NASDAQ:PONY) is originally an autonomous driving technology company that only supports carmakers in making vehicles autonomous.
In an interview with CNBC on Friday, PONY CEO James Peng said that the firm is currently in talks with Tencent Cloud to offer robotaxi services on the latter’s WeChat and other applications. He said both parties will benefit from the latter’s huge user base and cloud offerings.
While we acknowledge the potential of PONY as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than PONY but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.
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