Why Arista Networks Inc. (ANET) Soared On Thursday

We recently published a list of 10 Firms Lead Rally on Impressive Q1 Earnings, Optimistic Outlooks. In this article, we are going to take a look at where Arista Networks Inc. (NYSE:ANET) stands against other top performers on Thursday.

The stock market ended strong anew on Thursday, with all major indices finishing in the green territory, as investor sentiment was bolstered by a flurry of corporate earnings supported by better-than-expected performance from the technology giants.

The tech-heavy Nasdaq led the rally among all major indices, finishing up 1.52 percent. The S&P 500 clocked in a 0.63-percent gain, while the Dow Jones was up by 0.21 percent.

Ten companies also mimicked the broader market optimism following impressive earnings performance and an optimistic outlook for the rest of the year.

In this article, we have identified the 10 top performers on Thursday and detailed 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.

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

Arista Networks Inc (NYSE:ANET)

Arista Networks extended its winning streak for an eighth consecutive day on Thursday, jumping 6.77 percent to finish at $87.84 apiece, as investor sentiment was fueled by analysts’ bullish outlook in the company.

On Wednesday, investment firm 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.

The steep jump indicated strong expectations on the company’s potential and continued confidence in its market performance.

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.

Arista Networks Inc. (NYSE:ANET) is an industry leader in data-driven, client-to-cloud networking for large AI, data center, campus, and routing environments.

Overall, ANET ranks 9th on our list of top performers on Thursday. 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.