In this article, we will list the 5 Best Growth Stocks With Highest Upside Potential. Please visit 10 Best Growth Stocks With Highest Upside Potential if you would like to see the extended list and the methodology behind it.
5. QXO, Inc. (NYSE:QXO)
On July 1, 2026, KeyBanc lowered the firm’s price target on QXO, Inc. (NYSE:QXO) to $28 from $32 and kept an Overweight rating on the shares. The firm said the lower target reflects lower market multiples following shareholder approval of the TopBuild acquisition. KeyBanc noted that deal arbitrage and a tough macro environment have pressured QXO shares. While underlying fundamentals remain challenging, the firm sees deal closure and some signs of stability at Beacon as positive catalysts. KeyBanc said shares could move higher as demand recovers and the benefits from QXO’s tech stack become more apparent.
Also on July 1, QXO announced that it closed its previously disclosed acquisition of TopBuild (BLD), significantly expanding its scale and capabilities across the building products value chain. The company also said Alec Covington, TopBuild’s former Chairman, joined QXO’s Board of Directors, replacing Jared Kushner, who resigned to focus on other commitments. Chairman and CEO Brad Jacobs said the acquisition broadens QXO’s product offering, adds installation capabilities, and expands exposure to end markets such as data centers. Jacobs also said the company expects to generate at least $300 million in annual synergies by 2030.
QXO, Inc. (NYSE:QXO) distributes roofing, waterproofing, and complementary building products in the United States and Canada.
4. IREN Limited (NASDAQ:IREN)
On July 6, 2026, Freedom Capital upgraded IREN Limited (NASDAQ:IREN) to Buy from Hold with an unchanged price target of $58. The firm said the shares have fallen with peers, creating “enough upside” to warrant a higher rating. Freedom Capital said the IREN story is “all about adding supply on schedule over the next two years” and continued to forecast revenue to “explode” from $717M this year to $3.1B in FY27 and $8.5B in FY28.
On July 2, IREN announced the appointments of Kambiz Aghili as chief product officer and Michael Nudelman as chief development officer. Aghili will lead product strategy and the roadmap for IREN’s AI Cloud platform, including its bare metal GPU offering, managed services, and broader product capabilities. Aghili joins from Oracle Cloud Infrastructure, where Aghili served as Vice President of Products. Nudelman will lead IREN’s global data center development strategy and the expansion of its 5GW secured grid-connected power portfolio across existing and new markets.
On June 18, Jefferies analyst Jonathan Petersen initiated coverage of IREN with a Buy rating and $79 price target. Petersen cited the company’s “extraordinarily large” long-term powered land bank and vertically integrated GPU cloud approach, saying IREN has executed “a compelling strategic pivot.” Petersen also said owning the land and data centers gives IREN “unique optionality” to serve customers from powered shells to full GPU cloud builds.
IREN Limited (NASDAQ:IREN) operates in the vertically integrated data center business in Australia and Canada.
3. Figma, Inc. (NYSE:FIG)
On July 7, 2026, BofA analyst Tal Liani reinstated coverage of Figma, Inc. (NYSE:FIG) with a Buy rating and $30 price target. Liani noted that the stock is down 85% from its 52-week high amid concerns that generative AI could disrupt the design layer and compress its value. Liani took “a more constructive view,” saying AI is more likely a tailwind than a headwind.
On June 26, Wells Fargo analyst Michael Turrin lowered the firm’s price target on Figma to $36 from $42 and kept an Overweight rating on the shares. After attending Config ’26, Turrin said Wells Fargo’s confidence increased in Figma’s intelligent canvas and design platform strategy, as well as its ability to capture additional spending.
On June 17, Citi initiated coverage of Figma with a Buy rating and $36 price target. The firm said the company’s “ramping AI traction” will drive “significant upside” to consensus estimates. Citi also said its industry checks showed strong AI traction for Figma, including seat upgrades and credit pack utilization.
Figma, Inc. (NYSE:FIG) develops and sells a collaborative, browser-based platform for designing, prototyping, building digital experiences, and subscriptions for access to its platform.
2. TeraWulf Inc. (NASDAQ:WULF)
On July 9, 2026, Bloomberg’s Aaron Weinman, Michelle Cheng, and Gowri Gurumurthy reported that TeraWulf Inc. (NASDAQ:WULF) plans to raise approximately $3.5B in debt, including its first leveraged loan, to finance a new data center campus in Kentucky. Morgan Stanley (MS) is expected to lead the financing. CFO Patrick Fleury said the potential transaction would also include high-yield bonds. Fleury added that TeraWulf signed a 20-year lease with Anthropic for its Kentucky facility, which is expected to generate about $19B in revenue.
On July 8, Morgan Stanley analyst Stephen Byrd raised the firm’s price target on TeraWulf to $72 from $66.50 and kept an Overweight rating on the shares.
On July 7, Needham analyst John Todaro raised the firm’s price target on TeraWulf to $33 from $28 and kept a Buy rating on the shares. Todaro said the company signed one of the more attractive leases in the sector, demonstrating that demand remains robust. Needham also said its updated estimates include removing the Abernathy JV and adding in the latest Justified data center lease.
TeraWulf Inc. (NASDAQ:WULF) owns, develops, and operates digital infrastructure in the United States.
1. Space Exploration Technologies Corp. (NASDAQ:SPCX)
On July 9, 2026, Rocket One announced that it had added the SpaceXAI API to its AI technology stack after being accepted into the SpaceXAI API program. The addition gives Rocket One access to SpaceXAI’s latest multimodal artificial intelligence models for coding, reasoning, text, image, video, and voice applications.
Also on July 9, it was reported that Cathie Wood’s ARK Investment bought 182K shares of Space Exploration Technologies Corp. (NASDAQ:SPCX).
On the same day, Cursor said in a blog post that it is “releasing Grok 4.5” together with SpaceXAI. Cursor said Grok 4.5 is its most intelligent model and is designed for tasks beyond software engineering, including data science, finance, legal work, and other computer-based work. Grok 4.5 is available in Cursor across desktop, web, iOS, CLI, and the company’s SDK. Cursor said individual and team plans include usage of the model as part of its first-party model pool, and that usage is being doubled for the first week. The base model is priced at $2/M input tokens and $6/M output tokens, while the fast variant is priced at $4/M input tokens and $18/M output tokens.
Space Exploration Technologies Corp. (NASDAQ:SPCX) provides satellite-based broadband services, launch services, and AI platform solutions in the United States, Ireland, Canada, and internationally.
While we acknowledge the potential of SPCX to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than SPCX and that has 100x upside potential, check out our report about the cheapest AI stock.
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