Why Arista Networks Inc. (ANET) Soared Last Week

We recently published a list of These 10 Firms Soared Last Week, Here’s Why. In this article, we are going to take a look at where Arista Networks Inc. (NYSE:ANET) stands against other firms that soared last week.

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.

A technician in a server room managing a large-scale network of computers.

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.

Overall, ANET ranks 8th on our list of firms that soared last week. While we acknowledge the potential of ANET 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 ANET 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.

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