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10 NASDAQ Stocks with Biggest Upside

In this article, we discuss the 10 NASDAQ stocks with the biggest upside. To skip our detailed analysis, go directly to the 5 NASDAQ Stocks with Biggest Upside.

The Nasdaq Composite was the worst performer among the major market indices in 2022 and made a stellar comeback in 2023. The index was down 33% at the end of 2022 and recovered from its abysmal performance with a 43% gain in 2023. To put things in perspective, the Nasdaq Composite index hit its previous record in November 2021 with a little over 16,000 points, and it was still a thousand points behind it by the end of 2023, even after the outstanding performance during the year. However, the index has hit new highs and is at 16,275 at March 1 market close. The Nasdaq-100, which includes the 100 largest and most actively traded non-financial companies in the world, recorded its fourth-best performance since 1986, with a 53.81% gain in 2023.

Nasdaq’s performance is attributed to the fact that it is mostly concentrated in tech stocks, which were the best performers of the year in 2023. The Magnificent 7 stocks remained in the limelight as several of the top performers of the index were a part of the group, which include NVIDIA Corporation (NASDAQ:NVDA) and Meta Platforms, Inc. (NASDAQ:META), and they gained 239% and 194% in 2023, respectively. However, some other stocks made significant strides through the year as well. Some of them are Advanced Micro Devices, Inc. (NASDAQ:AMD), Palo Alto Networks, Inc. (NASDAQ:PANW), and Super Micro Computer, Inc. (NASDAQ:SMCI). Advanced Micro Devices, Inc. (NASDAQ:AMD) gained nearly 128%, and Palo Alto Networks, Inc. (NASDAQ:PANW) was 110% higher by the end of 2023. Super Micro Computer, Inc. (NASDAQ:SMCI) performed even more spectacularly in 2023 and is still on a remarkable upward trajectory in the current year. As of March 18, the stock has gained more than 900% over the past 12 months.

Although 5 of the magnificent 7 stocks are still performing well and their price charts are still in green on a year-to-date basis, as of March 18, Apple Inc. (NASDAQ:AAPL) and Tesla, Inc. (NASDAQ:TSLA) have declined significantly. Apple is down 4.61%, and Tesla has also fallen out of favor among many analysts and is down 32% year-to-date. However, Cathie Wood of Ark Invest still sees long-term growth for Tesla, Inc.’s (NASDAQ:TSLA) stock due to its autonomous driving software. Last year, Wood said in an interview on CNBC that she believes that the company’s stock price will hit the $2000 mark by 2027. In 2024, the investor is still bullish on the stock. Ark Invest bought $141 million worth of Tesla, Inc.’s (NASDAQ:TSLA) stock in January, as reported by Bloomberg on January 29. The firm also bought over $35 million worth of company shares on March 14, as reported by Business Insider on the same day.

Is There a Stop to the AI Rally?

Investors and analysts keep mixed reviews about the rising AI trend. While some believe that the AI surge could be a bubble and that tech stocks are now overvalued, others hold the opinion that AI is a revolutionary trend that will dominate the market for years to come. Looking at recent earnings of the tech stocks, the latter scenario is more likely. 

The industry leader, NVIDIA Corporation (NASDAQ:NVDA), reported its Q4 earnings on February 21. It reported non-GAAP earnings per share (EPS) of $5.16, which was up 28% sequentially, and was 486% higher than last year. Furthermore, its revenue increased by 265% year-over-year (YoY) to $22.1 billion. The company’s gross margin also increased by 10.6%, year over year, to 76.7% in the quarter. On March 18, Truist and HSBC raised NVIDIA’s price target by $266 and $170, respectively. Truist has a price target of $1,177 for the stock, while HSBC’s Frank Lee raised NVIDIA Corporation’s (NASDAQ:NVDA) price target to $1050. The stock is currently trading at around $885, as of March 18.

After NVIDIA Corporation’s (NASDAQ:NVDA) first-rate earnings report, Dell Technologies (NYSE:DELL) also showed strength in its earnings in the fourth quarter due to a high demand for its artificial intelligence servers. The company reported an EPS of $2.20 and a revenue of $22.32 billion, which outperformed the market estimates by $0.48 and $150 million, respectively. The stock gained 31.5% in a day on March 1 and is up nearly 13% month-to-date as of March 18. Dell Technologies’ (NYSE:DELL) also increased its quarterly dividend by 20%. The company’s earnings revived investor belief in AI, and most of the industry-related stocks moved higher during the day. At Dell Technologies’ (NYSE:DELL) Q4 2024 earnings call, COO and Vice Chairman of the company, Jeffrey Clark, highlighted the demand growth for AI-optimized servers. He said:

“AI-optimized server orders increased by nearly 40% sequentially. We shipped $800 million of AI-optimized servers, and our backlog nearly doubled sequentially, exiting the fiscal year at $2.9 billion. Demand continues to outpace GPU supply, though we are seeing H100 lead times improving. We are also seeing strong interest in orders for AI-optimized servers equipped with the next generation of AI GPUs, including the H200 and the MI300X. Most customers are still in the early stages of their AI journey, and they are very interested in what we are doing at Dell. We are helping them get started and work through their use cases, data preparation, training, and infrastructure requirements.”

Now let us continue to our list of NASDAQ stocks with the biggest upside potential, which includes Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE), Viasat, Inc. (NASDAQ:VSAT), and Sunrun Inc. (NASDAQ:RUN). You can also check out 11 Oversold NASDAQ Stocks To Buy Right Now and 15 Best NASDAQ Dividend Stocks To Buy.

Our Methodology

For this article, we identified 20 stocks listed on NASDAQ with the biggest upside potential through financial media websites including CNBC, Motley Fool, Kiplinger, and Business Insider. Next, we checked each stock’s analyst ratings and price targets on TipRanks. We then chose the 10 stocks with the highest average analyst price target upside at the time of writing on March 18 and listed the stocks in ascending order.

We also mentioned the hedge fund sentiment around each stock. The hedge fund data was taken from Insider Monkey’s database of 933 elite hedge funds as of Q4, 2023. Hedge funds’ top 10 consensus stock picks outperformed the S&P 500 Index by more than 140 percentage points over the last 10 years (see the details here). That’s why we pay very close attention to this often-ignored indicator.

10 NASDAQ Stocks with Biggest Upside

10. Baker Hughes Company (NASDAQ:BKR)

Average Analyst Price Target Upside: 22.99%

Number of Hedge Fund Holders: 47

Baker Hughes Company (NASDAQ:BKR) is a Texas-based company that offers energy and industrial solutions. According to TipRanks, the stock has a consensus rating of Strong Buy as per the 14 Wall Street analysts that covered it over the past three months. The average price target of $39.85 implies an upside of 22.99% from the current levels at the time of writing on March 18.

On February 21, Baker Hughes Company (NASDAQ:BKR) announced that it won a significant and multi-year award for the provision of integrated well construction services for rigs in the Buzios pre-salt field offshore Brazil. The work on the three rigs is expected to begin in the first half of 2025.

Baker Hughes Company (NASDAQ:BKR) was part of 47 hedge funds’ portfolios in the fourth quarter of 2023 with a total stake value of $911.825 million. AQR Capital Management is the most prominent shareholder in the company and has a position worth nearly $137.851 million, as of Q4, 2023.

Baker Hughes Company (NASDAQ:BKR) is one of the top NASDAQ stocks with the biggest upside, along with Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE), Viasat, Inc. (NASDAQ:VSAT), and Sunrun Inc. (NASDAQ:RUN).

ClearBridge Investments made the following comment about Baker Hughes Company (NASDAQ:BKR) in its Q3 2023 investor letter:

“Performance was boosted in the quarter by the Strategy’s more economically-sensitive holdings among steady compounders and evolving opportunities. Oilfield equipment and services provider Baker Hughes Company (NASDAQ:BKR), meanwhile, benefited from a $20 rise in crude oil prices as well as disciplined execution.”

9. Insulet Corporation (NASDAQ:PODD)

Average Analyst Price Target Upside: 44.79%

Number of Hedge Fund Holders: 50

Insulet Corporation (NASDAQ:PODD) is engaged in developing, manufacturing, and distributing insulin management systems for diabetic patients. In the fourth quarter of 2023, 50 hedge funds had stakes in Insulet Corporation (NASDAQ:PODD) with total positions worth $1.197 billion. This is compared to 44 funds with positions worth $938.370 million in the preceding quarter. As of December 31, 2023, Citadel Investment Group is the largest shareholder in the company with a stake worth $288.885 million.

On February 7, Insulet Corporation (NASDAQ:PODD) announced that its Omnipod 5 automated insulin delivery system with Abbott Laboratories’ (NYSE:ABT) FreeStyle Libre 2 Plus sensor received CE Mark approval.

In the past three months, 12 Wall Street analysts have covered Insulet Corporation (NASDAQ:PODD), and 9 maintain a Buy rating on the stock. At the time of writing on March 18, the average price target of $238.33 has an upside of 44.79% from present levels.

ClearBridge Investments mentioned Insulet Corporation (NASDAQ:PODD) in its third quarter 2023 investor letter. Here is what it said:

“Results were primarily impacted by weakness among two health care holdings, Insulet Corporation (NASDAQ:PODD) and Surgery Partners. Positive clinical studies for GLP-1 therapeutics showed substantial health benefits to diabetic and obese patients, boosting stock prices of pharmaceutical companies tied to the manufacturing of these drugs. The potential for improved patient outcomes raised the risk of lower utilization for Insulet, a maker of insulin patch pumps, and Surgery Partners, whose outpatient surgery centers conduct weight loss and many other types of outpatient procedures. Though the GLP-1 threat is weighing on the valuation multiple of Insulet, any negative effects would likely not meaningfully affect the business for many years, especially given how large and underpenetrated the Type 2 diabetes market is for the company currently. Additionally, this could require significant improvements in cost, availability, and adherence for GLP-1s. Furthermore, we are encouraged that the majority of Insulet’s business today is still from Type 1 diabetes, where fundamentals remain strong and the company is gaining share.”

8. First Solar, Inc. (NASDAQ:FSLR)

Average Analyst Price Target Upside: 50.15%

Number of Hedge Fund Holders: 47

First Solar, Inc. (NASDAQ:FSLR) is a Texas-based company that provides solar photovoltaic (PV) systems. First Solar, Inc. (NASDAQ:FSLR) takes the eighth spot on our list of NASDAQ stocks with the biggest upside. Over the past three months, 20 Wall Street analysts have given their recommendations on First Solar, Inc. (NASDAQ:FSLR), with 16 recommending to Buy the stock. As of March 18, the stock’s average price target of $220.72 implies an upside of 50.15% to its current price.

According to Insider Monkey’s database which tracks 933 elite hedge funds, 47 funds had investments in First Solar, Inc.’s (NASDAQ:FSLR) stock in the fourth quarter of 2023 worth $1.106 billion. With 1.79 million shares worth $308.736 million, Robert Pohly’s Samlyn Capital is the top investor in the company, as of Q4 2023.

On February 27, First Solar, Inc. (NASDAQ:FSLR) announced its Q4 earnings result with a GAAP EPS of $3.25, which topped the estimates by $0.13. The revenue jumped 16.0% year-over-year to $1.16 billion.

7. Shoals Technologies Group, Inc. (NASDAQ:SHLS)

Average Analyst Price Target Upside: 58.89%

Number of Hedge Fund Holders: 31

Shoals Technologies Group, Inc. (NASDAQ:SHLS) is a Tennessee-based company that offers electrical balance of system solutions. The stock has been covered by 15 Wall Street analysts over the past three months, with 12 keeping a Buy rating on the stock. The average price target of $18.86 implies an upside of 58.89% from the current levels on March 18.

On February 21, it was reported that Shoals Technologies Group, Inc. (NASDAQ:SHLS) will expand its existing Tennessee operations over the next five years and will spend $80 million for this endeavor.

According to Insider Monkey’s database, 31 hedge funds had investments in Shoals Technologies Group, Inc. (NASDAQ:SHLS) in Q4 of 2023 with positions worth $464.778 million. This compared to 33 funds in the previous quarter, with positions worth $349.254 million. Encompass Capital Advisors is the top shareholder in the company with a position worth $105.713 million, as of the fourth quarter of 2023.

On February 28, Shoals Technologies Group, Inc. (NASDAQ:SHLS) announced its Q4 earnings result with a non-GAAP EPS of $0.12 and a revenue of $130.4 million, which grew by 37.8% YoY.

6. Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Average Analyst Price Target Upside: 61.26%

Number of Hedge Fund Holders: 56

Warner Bros. Discovery, Inc. (NASDAQ:WBD) is a New York-based media and entertainment company. The stock was held by 56 hedge funds in the fourth quarter of 2023. The total stakes of the funds amounted to $1.122 billion. As of December 31, 2023, Harris Associates is the most dominant shareholder in the company with a position worth $904.761 million.

Of the 17 Wall Street analysts that have covered Warner Bros. Discovery, Inc. (NASDAQ:WBD) over the past three months, 9 maintain a Buy rating on the stock. The average price target of $13.61 implies an upside of 61.26% from current levels, as of March 18.

On February 26, Barrington analyst James Goss lowered the price target on Warner Bros. Discovery, Inc.’s (NASDAQ:WBD) stock to $16 from $18 and kept an Outperform rating on the shares.

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE), Viasat, Inc. (NASDAQ:VSAT), and Sunrun Inc. (NASDAQ:RUN) are some of the NASDAQ stocks with the biggest upside, in addition to Warner Bros. Discovery, Inc. (NASDAQ:WBD).

Longleaf Partners stated the following regarding Warner Bros. Discovery, Inc. (NASDAQ:WBD) in its fourth quarter 2023 investor letter:

“The rules have improved how we analyze existing holdings and influenced the price at which we will buy a new holding and/or trim or add to an existing one. This has resulted in a higher level of resizing positions in the portfolio and exiting some long-term holdings this year. A good example in the portfolio today is Warner Bros. Discovery, Inc. (NASDAQ:WBD), a company that we bought too early but that remains a holding in the portfolio. Our average price for the initial WBD investment in 2021 was $26.48, or a P/V ratio in the mid-60s%. However, P/EV on the initial report was 79%. Under the new rules, we would not pay that price for the company today. We most likely would have waited for a mid-60s% P/EV, which would have equated to a $mid-teens entry price. In this case, we would have missed a too-large initial downturn in the stock price. The overweight rule dictated that we trimmed the position after the price ran up in the first half of 2023, which benefitted overall performance as the stock price subsequently fell again. However, even with the new rule lens, we remain confident in our case for the business and management’s ability to deliver going forward.”

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Disclosure. None. 10 NASDAQ Stocks with Biggest Upside is originally published on Insider Monkey.

The $250 Trillion AI Hype is Real. A few years from now, you’ll probably wish you’d bought this stock.

When Jeff Bezos said that one breakthrough technology would shape Amazon’s destiny, even Wall Street’s biggest analysts were caught off guard.

Fast forward a year and Amazon’s new CEO Andy Jassy described generative AI as a “once-in-a-lifetime” technology that is already being used across Amazon to reinvent customer experiences.

At the 8th Future Investment Initiative conference, Elon Musk predicted that by 2040 there would be at least 10 billion humanoid robots, with each priced between $20,000 and $25,000.

Do the math. According to Musk, this technology could be worth $250 trillion by 2040.

Put another way, that’s roughly equal to:

  • 175 Teslas
  • 107 Amazons
  • 140 Metas
  • 84 Googles
  • 65 Microsofts
  • And 55 Nvidias

And here’s the wild part — this $250 trillion wave isn’t tied to one company, but to an entire ecosystem of AI innovators set to reshape the global economy.

It’s a leap so massive, it could reshape how businesses, governments, and consumers operate worldwide.

Even if that $250 trillion figure sounds ambitious, major firms like PwC and McKinsey still see AI unlocking multi-trillion-dollar potential.

How could anything be worth that much?

The answer lies in a breakthrough so powerful it’s redefining how humanity works, learns, and creates.

And this breakthrough has already set off a frenzy among hedge funds and Wall Street’s top investors.

What most investors don’t realize is that one under-owned company holds the key to this $250 trillion revolution.

In fact, Verge argues this company’s supercheap AI technology should concern rivals.

Before I reveal the details, let’s talk about how some of the richest people on the planet are positioning themselves.

  • Bill Gates sees artificial intelligence as the “biggest technological advance in my lifetime,” more transformative than the internet or personal computer, capable of improving healthcare, education, and addressing climate change.
  • Larry Ellison — through Oracle, is spending billions on Nvidia chips and partnering with Cohere to embed generative AI across Oracle’s cloud and apps.
  • Warren Buffett — not known for tech hype — says this breakthrough could have a ‘hugely beneficial social impact.

When billionaires from Silicon Valley to Wall Street line up behind the same idea — you know it’s worth paying attention to.

Even as we admire what Tesla, Nvidia, Alphabet, and Microsoft have built, we believe an even greater opportunity lies elsewhere…

But the real story isn’t Nvidia — it’s a much smaller company quietly improving the critical technology that makes this entire revolution possible.

And judging by what I’m hearing from both Silicon Valley insiders and Wall Street veterans…

This prediction might not be bold at all:

A few years from now, you’ll wish you’d owned this stock.

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AI, Tariffs, Nuclear Power: One Undervalued Stock Connects ALL the Dots (Before It Explodes!)

Artificial intelligence is the greatest investment opportunity of our lifetime. The time to invest in groundbreaking AI is now, and this stock is a steal!

AI is eating the world—and the machines behind it are ravenous.

Each ChatGPT query, each model update, each robotic breakthrough consumes massive amounts of energy. In fact, AI is already pushing global power grids to the brink.

Wall Street is pouring hundreds of billions into artificial intelligence—training smarter chatbots, automating industries, and building the digital future. But there’s one urgent question few are asking:

Where will all of that energy come from?

AI is the most electricity-hungry technology ever invented. Each data center powering large language models like ChatGPT consumes as much energy as a small city. And it’s about to get worse.

Even Sam Altman, the founder of OpenAI, issued a stark warning:

“The future of AI depends on an energy breakthrough.”

Elon Musk was even more blunt:

“AI will run out of electricity by next year.”

As the world chases faster, smarter machines, a hidden crisis is emerging behind the scenes. Power grids are strained. Electricity prices are rising. Utilities are scrambling to expand capacity.

And that’s where the real opportunity lies…

One little-known company—almost entirely overlooked by most AI investors—could be the ultimate backdoor play. It’s not a chipmaker. It’s not a cloud platform. But it might be the most important AI stock in the US owns critical energy infrastructure assets positioned to feed the coming AI energy spike.

As demand from AI data centers explodes, this company is gearing up to profit from the most valuable commodity in the digital age: electricity.

The “Toll Booth” Operator of the AI Energy Boom

  • It owns critical nuclear energy infrastructure assets, positioning it at the heart of America’s next-generation power strategy.
  • It’s one of the only global companies capable of executing large-scale, complex EPC (engineering, procurement, and construction) projects across oil, gas, renewable fuels, and industrial infrastructure.
  • It plays a pivotal role in U.S. LNG exportation—a sector about to explode under President Trump’s renewed “America First” energy doctrine.

Trump has made it clear: Europe and U.S. allies must buy American LNG.

And our company sits in the toll booth—collecting fees on every drop exported.

But that’s not all…

As Trump’s proposed tariffs push American manufacturers to bring their operations back home, this company will be first in line to rebuild, retrofit, and reengineer those facilities.

AI. Energy. Tariffs. Onshoring. This One Company Ties It All Together.

While the world is distracted by flashy AI tickers, a few smart investors are quietly scooping up shares of the one company powering it all from behind the scenes.

AI needs energy. Energy needs infrastructure.

And infrastructure needs a builder with experience, scale, and execution.

This company has its finger in every pie—and Wall Street is just starting to notice.

Wall Street is noticing this company also because it is quietly riding all of these tailwinds—without the sky-high valuation.

While most energy and utility firms are buried under mountains of debt and coughing up hefty interest payments just to appease bondholders…

This company is completely debt-free.

In fact, it’s sitting on a war chest of cash—equal to nearly one-third of its entire market cap.

It also owns a huge equity stake in another red-hot AI play, giving investors indirect exposure to multiple AI growth engines without paying a premium.

And here’s what the smart money has started whispering…

The Hedge Fund Secret That’s Starting to Leak Out

This stock is so off-the-radar, so absurdly undervalued, that some of the most secretive hedge fund managers in the world have begun pitching it at closed-door investment summits.

They’re sharing it quietly, away from the cameras, to rooms full of ultra-wealthy clients.

Why? Because excluding cash and investments, this company is trading at less than 7 times earnings.

And that’s for a business tied to:

  • The AI infrastructure supercycle
  • The onshoring boom driven by Trump-era tariffs
  • A surge in U.S. LNG exports
  • And a unique footprint in nuclear energy—the future of clean, reliable power

You simply won’t find another AI and energy stock this cheap… with this much upside.

This isn’t a hype stock. It’s not riding on hope.

It’s delivering real cash flows, owns critical infrastructure, and holds stakes in other major growth stories.

This is your chance to get in before the rockets take off!

Disruption is the New Name of the Game: Let’s face it, complacency breeds stagnation.

AI is the ultimate disruptor, and it’s shaking the foundations of traditional industries.

The companies that embrace AI will thrive, while the dinosaurs clinging to outdated methods will be left in the dust.

As an investor, you want to be on the side of the winners, and AI is the winning ticket.

The Talent Pool is Overflowing: The world’s brightest minds are flocking to AI.

From computer scientists to mathematicians, the next generation of innovators is pouring its energy into this field.

This influx of talent guarantees a constant stream of groundbreaking ideas and rapid advancements.

By investing in AI, you’re essentially backing the future.

The future is powered by artificial intelligence, and the time to invest is NOW.

Don’t be a spectator in this technological revolution.

Dive into the AI gold rush and watch your portfolio soar alongside the brightest minds of our generation.

This isn’t just about making money – it’s about being part of the future.

So, buckle up and get ready for the ride of your investment life!

Act Now and Unlock a Potential 100+% Return within 12 to 24 months.

We’re now offering month-to-month subscriptions with no commitments.

For a ridiculously low price of just $9.99 per month, you can unlock our in-depth investment research and exclusive insights – that’s less than a single fast food meal!

Space is Limited! Only 1000 spots are available for this exclusive offer. Don’t let this chance slip away – subscribe to our Premium Readership Newsletter today and unlock the potential for a life-changing investment.

Here’s what to do next:

1. Head over to our website and subscribe to our Premium Readership Newsletter for just $9.99.

2. Enjoy a month of ad-free browsing, exclusive access to our in-depth report on the Trump tariff and nuclear energy company as well as the revolutionary AI-robotics company, and the upcoming issues of our Premium Readership Newsletter.

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