Tom Lee, Fundstrat managing partner, joined CNBC’s ‘Closing Bell’ on March 22 to discuss the current market sentiment. When asked about the recent report on tariffs, which oscillates between an iron fist and an olive branch, Lee expressed optimism. He suggested that markets should interpret the situation positively because many clients view tariffs as punitive and potentially recession-inducing. However, a mutually agreed or reciprocal tariff deal could create a favorable scenario for businesses, potentially setting the stage for a significant recovery rally. Addressing the immediate challenge of volatility leading up to April 2, Lee acknowledged the dilemma investors face during this period of uncertainty. He noted that many are overwhelmed by market fluctuations and tempted to give up. Drawing a parallel to the Cuban Missile Crisis in 1962, which lasted 12 days, Lee pointed out that markets historically bottom before crises are resolved. For instance, during that crisis, the stock market reached its lowest point seven days in and recovered two-thirds of its losses before the resolution. He suggested this historical pattern could serve as a template for today’s market behavior.
When asked about the economy, Lee remarked on how quickly sentiment has deteriorated. He attributed part of this decline to divisive political leadership that affected consumer confidence and noted that CEO confidence has also dropped unexpectedly. CEOs have become hesitant to make decisions, which is contributing to what he described as a growth shock. However, he remained hopeful that this slowdown would be temporary if it does not persist for months. The conversation shifted to concerns about a potential recession, with Jeffrey Gundlach recently estimating a 50% to 60% chance of one occurring in the next few quarters. Lee countered this by stating that while a 10% drawdown in the S&P 500 already prices in a 40% chance of recession, markets do not fully align with Gundlach’s pessimistic view. He highlighted that economies like China, Europe, Canada, and Mexico have been outperforming the US since February 18. If punitive tariffs were truly driving global recessions, these economies would also be struggling. Instead, Lee described markets as more paralyzed than outright pessimistic.
This environment highlights the importance of identifying promising stocks that could thrive as markets stabilize. That being said, we’re here with a list of the 12 best up and coming stocks to buy according to wall street analysts.
Photo by Roberto Júnior on Unsplash
Our Methodology
We used the Finviz stock screener to compile an initial list of the top stocks that went public in the last 5 years. We then selected the 12 stocks with high analysts’ upside potential as of March 21 that were also the most popular among elite hedge funds. The stocks are ranked in ascending order of their upside potential. We have also added the hedge fund sentiment for each stock, as of Q4 2024, which was sourced from Insider Monkey’s database.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
12 Best Up and Coming Stocks to Buy According to Wall Street Analysts
12. Sharkninja Inc. (NYSE:SN)
Average Upside Potential as of March 21: 51.01%
Number of Hedge Fund Holders: 63
Sharkninja Inc. (NYSE:SN) is a global product design and technology company. It operates under the Shark and Ninja brands and offers consumer solutions like cleaning, cooking, food preparation, beauty, and home environment appliances. Its products are sold through various retail and online channels.
In Q4 2024, the company’s net sales jumped 30% year-over-year, and adjusted net sales for the full year increased by 32%. This surge is attributed to successful launches in new product categories like coolers, fans, frozen drink appliances, and skincare. Products like the Ninja SLUSHi and Shark CryoGlow exceeded sales expectations and generated substantial social media buzz. The food preparation category also saw an 89% growth in Q4, which was fueled by popular items like CREAMi and SLUSHi.
Looking ahead, Sharkninja Inc. (NYSE:SN) plans to launch 25 new products in 2025 and projects a 10-12% increase in net sales for the year. The company is strategically targeting a $120 billion addressable market, which aims to disrupt established markets and capitalize on emerging consumer trends by continuing to innovate and expand its product portfolio.
The company’s strong revenue and margin growth, which was driven by successful product expansion, led to a significant stock rally and positive portfolio contribution. Artisan Small Cap Fund stated the following regarding Sharkninja Inc. (NYSE:SN) in its Q3 2024 investor letter:
“Among our top Q3 contributors were Guidewire, Veracyte and SharkNinja, Inc. (NYSE:SN). SharkNinja is a leading household consumer products company. Its Shark brand focuses on the cleaning category (vacuums, mops, carpet cleaners, etc.) and, more recently, beauty (hair dryers, hair stylers, etc.). Its Ninja brand focuses on food preparation (blenders, food processors, ice cream makers, juicers, etc.) and cooking (indoor grills, ovens, toasters, cookers, air fryers, etc.). We believe a healthy combination of market share gains within existing categories, new category entries and international expansion will drive growth. Shares rallied after reporting strong earnings results, including 31% revenue growth and 600bps of gross margin expansion.”
11. Constellation Energy Corp. (NASDAQ:CEG)
Average Upside Potential as of March 21: 53.57%
Number of Hedge Fund Holders: 85
Constellation Energy Corp. (NASDAQ:CEG) generates and sells energy products and services across the US. With a portfolio of nuclear, wind, solar, natural gas, and hydroelectric assets, it supplies electricity and natural gas to a range of customers. These include utilities, municipalities, and residential consumers.
On February 24, DBS analyst Elizabelle Pang reaffirmed a Hold rating for the company with a price target of $300. While acknowledging the company’s growth potential, the Hold rating reflects concerns about current market risks. However, the firm highlighted that the company’s acquisition of Calpine Corporation, which was driven by the increasing demand from AI data centers and the electrification of transportation and buildings, holds great importance for the company’s future.
The company’s nuclear power generation is central to meeting the surging electricity demands of AI data centers and other high-energy technologies. The company’s nuclear fleet, which is the largest producer of emissions-free energy in the US, achieved a 94.6% operating capacity factor in 2024. In Q4 2024 alone, nuclear plants generated 45,494 gigawatt-hours. Constellation Energy Corp. (NASDAQ:CEG) also has a 20-year power purchase agreement with Microsoft for the Crane Clean Energy Center.
The company’s position as the largest US clean energy producer, particularly in nuclear power, combined with rising electricity demand from AI and data centers, led to significant share performance gains. Alger Mid Cap Focus Fund stated the following regarding Constellation Energy Corp. (NASDAQ:CEG) in its Q3 2024 investor letter:
“Constellation Energy Corporation (NASDAQ:CEG) is the largest producer of clean energy in the U.S., with 32,400 Megawatts of capacity, 87% of which is nuclear generated. Its nuclear, hydro, wind, and solar facilities provide 10% of all clean energy on the U.S. grid and 22% of its clean baseload power. We believe the company stands to benefit from the increasing electrification of the U.S. economy. The rise of electric vehicles, data centers, and reshoring of American manufacturing is driving U.S. electricity load growth for the first time in nearly two decades. In our view, AI workloads are projected to significantly increase energy demand from data centers over the next few years. As American enterprises seek clean and reliable energy sources, nuclear power, which is carbon-free and dependable, stands out compared to intermittent renewables like wind and solar. Constellation, as an unregulated independent power producer, benefits from low fixed costs and can capture upside from rising electricity prices. We believe that potential opportunities for earnings growth include colocation (data centers near nuclear plants) and energy-matching programs with cloud providers willing to pay premium prices for nuclear energy. The Inflation Reduction Act also provides downside protection through a guaranteed minimum price for nuclear generation. During the quarter, shares contributed to performance from two events: 1) annual electricity auctions revealed tightening markets driven by increasing demand, driving higher pricing in the Middle Atlantic states, leading management to raise their fiscal 2024 earnings projections. 2) On September 20, 2024, Constellation Energy announced the signing of a 20-year power purchase agreement with Microsoft, which includes restarting Three Mile Island’s Unit 1 to supply energy.”
10. Robinhood Markets Inc. (NASDAQ:HOOD)
Average Upside Potential as of March 21: 54.60%
Number of Hedge Fund Holders: 79
Robinhood Markets Inc. (NASDAQ:HOOD) operates a financial services platform that enables users to invest in a variety of assets. These include stocks, ETFs, options, gold, and cryptocurrencies. It offers features like fractional trading, recurring investments, and margin access, alongside educational resources such as news digests, online guides, and in-app tutorials. It also provides credit and cash card services and crypto wallets.
The company’s revenue surged in 2024 due to its active trader platform and new premium offerings. Q4 2024 revenue alone exceeded $1 billion, while full-year revenue surpassed $3 billion. This was a 58% increase from 2023. This growth was fueled by products like the Robinhood Gold Card, Robinhood Legend, and its expanding derivatives business, with the recently launched Robinhood Legend already generating $50 million in annualized trading revenue.
Customer engagement and investment on the platform also saw significant growth. Total customer deposits reached a record $50 billion, which was nearly a 50% increase. Robinhood Markets Inc.’s (NASDAQ:HOOD) premium Gold service also experienced an 80% increase in subscribers, with over 30% of new customers in Q4 opting for the service, despite Gold representing only 10% of the overall customer base.
Robinhood Markets Inc.’s (NASDAQ:HOOD) strong millennial user base, rapid deposit growth, and potential for expanded services and margin expansion make it a promising investment for the Artisan Mid Cap Fund. The Fund stated the following in its Q4 2024 investor letter:
“During the quarter, we initiated new GardenSM positions in US Foods, Pure Storage and Robinhood Markets, Inc. (NASDAQ:HOOD). Robinhood has emerged as the go-to-trading platform for millennials, boasting approximately 25 million accounts (versus Charles Schwab’s 34 million). The company’s user base skews younger, with deposits growing significantly faster than the broader industry due to several drivers, including the rise of self-directed trading, the generational wealth transfer to millennials and increasing market share. As Robinhood’s customer base matures and accumulates wealth, we believe the company is well positioned to expand its product offerings to meet evolving financial needs. Furthermore, management’s focus on profitable growth and a 90% fixed cost structure suggests meaningful margin expansion potential.”
9. Gitlab Inc. (NASDAQ:GTLB)
Average Upside Potential as of March 21: 56.37%
Number of Hedge Fund Holders: 51
Gitlab Inc. (NASDAQ:GTLB) develops software for the software development lifecycle. It offers the GitLab DevOps platform which streamlines planning, building, securing, and deploying software. This enables faster development cycles and enhanced visibility. It provides essential tools and services for organizations that want to improve their software development processes.
On March 4, BTIG reiterated a Buy rating and an $86 price target for the company due to its Q4 2024 results, where revenue grew 29.1% year-over-year to $211.4 million. This bullish stance is supported by the company’s robust 2026 guidance, increasing big deal activity, the strength of its Ultimate tier, and the growing adoption of new products like GitLab Dedicated and Duo Enterprise, which utilizes AI.
The company’s AI-driven segment is centered on GitLab Duo. It’s embedding AI throughout its DevSecOps platform. A DevSecOps platform integrates development, security, and operations into a unified toolset. It streamlines software delivery while ensuring security throughout the process. In Q4 2024, the company saw strong adoption of Duo Enterprise, with major clients like Barclays and Capgemini investing in its AI capabilities. Gitlab Inc. (NASDAQ:GTLB) is advancing its AI offerings with Duo Workflow, which entered private beta this month, with a public beta planned for summer.
The company’s comprehensive software development platform, strong user base, and potential for growth in a large market prompted the Artisan Mid Cap Fund to increase its position in the company. The Fund stated the following regarding Gitlab Inc. (NASDAQ:GTLB) in its Q4 2024 investor letter:
“Along with Monolithic Power Systems, notable adds in the quarter included Onto Innovation and GitLab Inc. (NASDAQ:GTLB). Gitlab offers a one-stop shop for software development projects. The company provides developers with tools to manage code, collaborate with teammates and track the entire development workflow. It has a strong brand with more than 30million registered users across its free and paid subscription tiers. Customers adopt Gitlab to deploy code faster, more consistently and more securely. We believe the company is early in its lifecycle given the large addressable market of global software developers and a general trend toward companies looking to digitize aspects of their business and deploy code quickly. Recent earnings results were thesis affirming, and we added to the position.”
8. Coinbase Global Inc. (NASDAQ:COIN)
Average Upside Potential as of March 21: 63.36%
Number of Hedge Fund Holders: 69
Coinbase Global Inc. (NASDAQ:COIN) operates a leading crypto asset platform. It provides services for consumers, institutions, and developers. It acts as a primary financial gateway to the crypto economy by offering brokerage services and tools for building on blockchain technology.
The company’s subscription and services revenue showcased a diversification beyond trading. In 2024, this segment surged by 64% year-over-year and reached $2.3 billion. This was primarily driven by USDC, staking, and Coinbase One. Specifically, Coinbase One surpassed 600,000 paid subscribers by December. The company reported $6.6 billion in total revenue in 2024. The international revenue share reached 19% in Q4 2024.
For 2025, Coinbase Global Inc. (NASDAQ:COIN) aims to increase USDC’s market cap through new partnerships and payment integrations. The company also plans to grow staking services for both retail and institutional clients, and expand Coinbase One’s reach, especially in international markets. For Q1 2025, Coinbase projects subscription and services revenue to be between $685 million and $765 million, driven by stablecoin growth and subscriber increases.
Patient Capital Management stated the following regarding Coinbase Global, Inc. (NASDAQ:COIN) in its Q4 2024 investor letter:
“The top performers in the fourth quarter were once again Financials and Travel names. We’ve been over-indexed to them since the pandemic, which has served us well. We strategically added to certain financial names like Sofi Technologies (SOFI) and Coinbase Global, Inc. (NASDAQ:COIN) during the year. Both companies rebounded strongly in the fourth quarter. We believe Coinbase is building the platform for the crypto ecosystem. Certain recent advances (wallet, base improvements, USD Coin) could cause an adoption tipping point. We like that Coinbase continues to widen its moat by persistently investing in innovation.”
7. Affirm Holdings Inc. (NASDAQ:AFRM)
Average Upside Potential as of March 21: 63.71%
Number of Hedge Fund Holders: 61
Affirm Holdings Inc. (NASDAQ:AFRM) operates a payment network that provides point-of-sale financing solutions for consumers and commerce tools for merchants across the US, Canada, and internationally. Its platform facilitates buy now, pay later transactions by partnering with banks and capital markets to offer flexible payment options.
The company’s zero percent APR loan offerings attract consumers by providing interest-free purchasing options. Merchants subsidize these loans, which allows them to promote sales without discounting prices. FQ2 2025 saw a notable increase in zero percent loans. The company is expanding the reach of these offers by syndicating them across its network, which includes its app and card. This ensures consistent access to deals for consumers, which enhances the platform’s appeal. Additionally, the company is exploring AI to personalize offers.
Affirm Holdings Inc. (NASDAQ:AFRM) is also experiencing strong growth in active customers, with a 23% year-over-year increase, which marks four consecutive quarters of acceleration. This growth is attributed to increased DTC engagement, particularly through the Affirm card, and expanded e-commerce coverage. The company is actively working to enhance the card’s utility and aims for broader consumer adoption and increased spending.
6. Astera Labs Inc. (NASDAQ:ALAB)
Average Upside Potential as of March 21: 79.79%
Number of Hedge Fund Holders: 51
Astera Labs Inc. (NASDAQ:ALAB) designs and sells semiconductor-based connectivity solutions for cloud and AI infrastructure. It offers an intelligent connectivity platform featuring smart DSP retimers, cable modules, and the COSMOS software suite, which optimizes resource management for large-scale cloud deployments. It serves hyperscalers and OEMs.
In Q4 2024, the company made a record revenue of $141 million, which was a 179% year-over-year increase that was driven by its Aries PCIe Retimer and Taurus Ethernet Smart Cable Module product families. These are essential for AI scaling. Full-year 2024 revenue saw a 242% increase. The company is actively investing in R&D and acquisitions to enhance its AI-driven connectivity solutions. It anticipates a $12 billion market opportunity by 2028 due to the high-speed connectivity sector’s growth.
On March 14, Raymond James initiated coverage of Astera Labs Inc. (NASDAQ:ALAB) with an Outperform rating and an $82 price target. This highlighted the company’s strong market position in high-speed connectivity, which is being propelled by the increasing demands of GenAI. The firm underscored the company’s leadership in the $2 billion PCIe Retimer market and its presence in the Active Electrical Cable segment. It noted that the rising computational needs are driving the demand for advanced interconnect technologies.
The company delivered strong financial results and exceeded expectations with revenue growth across all segments and increased guidance. This reinforced the company’s position as a leader in connectivity solutions for high-performance computing. Alger Small Cap Growth Fund stated the following regarding Astera Labs Inc. (NASDAQ:ALAB) in its Q4 2024 investor letter:
“Astera Labs, Inc. (NASDAQ:ALAB) is a semiconductor company specializing in connectivity solutions for data-centric systems, including cloud computing, artificial intelligence, and machine learning. Its products optimize data flow and performance in servers, GPUs, and AI accelerators, addressing bottlenecks in high-performance computing environments. The company’s Intelligent Connectivity Platform (ICP) integrates advanced semiconductor hardware with the proprietary COSMOS software suite, delivering customizable and cost-effective solutions. Astera’s Platform-Specific Standard Products (PSSP) enhance flexibility with features such as predictive analytics, monitoring, and troubleshooting. Backed by strong relationships with leading cloud and AI providers, we believe Astera is well positioned in rapidly growing markets, demonstrating high profitability and industry-leading gross margins. During the quarter, shares contributed to performance after reporting better-than-expected fiscal third-quarter results, with revenues and gross margins exceeding analyst estimates. Specifically, revenue growth spanned all four product segments, led by accelerated custom silicon sales and robust GPU demand. Management also raised fiscal fourth-quarter guidance, citing expanding product ramps and a broader customer base.”
5. Applovin Corp. (NASDAQ:APP)
Average Upside Potential as of March 21: 80.93%
Number of Hedge Fund Holders: 95
Applovin Corp. (NASDAQ:APP) develops a software platform that enhances marketing and monetization for advertisers across mobile and connected TV. It operates through advertising and app segments and provides tools like AppDiscovery, MAX, Adjust, and Wurl, along with mobile games. It serves individual users, small businesses, enterprises, and app developers.
In Q4 2024, the company’s AI-driven advertising segment achieved $999 million in revenue and $777 million in adjusted EBITDA, which resulted in a 78% margin. This success was attributed to the platform’s effectiveness in attracting e-commerce advertisers during the holiday season. To further capitalize on this growth, the company is prioritizing the development of automated tools for self-service advertising. It’s also divesting its Apps (gaming studio) business for an estimated $900 million to focus on its high-margin advertising platform.
For Q1 2025, the company projects the Advertising business to generate revenue between $1.030 and $1.050 billion. On March 20, Citi analyst Jason Bazinet reiterated a Buy rating and $600 price target for the company due to its AI-powered marketing platform. The company’s game studio sale in H2 2025 is expected to boost revenue by $75 million annually, as new owners will likely use Applovin Corp.’s (NASDAQ:APP) Ads platform, which will match Q4 2024 eCommerce revenue.
The company’s leading position in mobile app advertising, which is driven by its AI engine and potential expansion into e-commerce, contributed to the ClearBridge Mid Cap Strategy’s strong IT performance. It stated the following regarding Applovin Corp. (NASDAQ:APP) in its Q4 2024 investor letter:
“Stock selection in IT was the greatest contributor to performance on strength in AppLovin Corporation (NASDAQ:APP) and Marvell. AppLovin is the world’s leading mobile game and app advertising platform, providing software for marketing and monetization, powered by its proprietary AI targeting engine Axon. We see opportunity for AppLovin to continue to expand and grow its share of the market for mobile app marketing at a time when mobile gaming ad spend is recovering from a higher-rate-driven trough. We also see the potential for the company to expand its addressable market to include e-commerce advertising, around which initial forays have been encouraging. With strong incremental margins and management keeping expenses controlled, the company should be able to drive significant free cash flow growth as revenue continues to scale.”
4. Reddit Inc. (NYSE:RDDT)
Average Upside Potential as of March 21: 88.51%
Number of Hedge Fund Holders: 87
Reddit Inc. (NYSE:RDDT) enables users to engage in conversations, explore passions, research new hobbies, and exchange goods and services. It organizes communities based on specific interests that enable users to engage in conversations by sharing experiences, submitting links, uploading images and videos, and replying to one another.
The company is enhancing its advertising platform by integrating AI-powered tools, such as the AI Headline Generator and Memorable AI, to improve performance and attract mid-market and SMB advertisers. It’s also focusing on brand safety and using its unique community intelligence to develop advertising solutions like Reddit Pro Trends. The company is investing in ad stack automation and advertiser diversification.
In Q4 2024, Reddit Inc.’s (NYSE:RDDT) advertising revenue surged by 60% year-over-year and reached $395 million. For the full year 2024, advertising revenue drove total revenue to $1.3 billion, which was a 62% increase. International advertising revenue saw a 77% growth. This is attributed to the company’s ability to connect brands with engaged users seeking trustworthy opinions across various advertising objectives, channels, verticals, and geographies.
Reddit Inc.’s (NYSE:RDDT) strong quarterly earnings, user growth, and AI partnership news drove a stock surge, which made it a top performer for Columbia Threadneedle Global Technology Growth Strategy. The fund stated the following in its Q4 2024 investor letter:
“Reddit, Inc. (NYSE:RDDT) was the single best-performing stock for the fund, as the stock surged during the quarter, with significant outperformance following its stellar quarterly earnings release. The capital-light social news aggregation platform — and the ninth most-visited website in the world — reported quarterly revenue, user growth and profit margins that came in considerably higher than even the most bullish of estimates, and the company also provided forward-looking guidance that came in well ahead of expectations on most metrics. After earlier announcing a data licensing partnership with AI pioneer OpenAI, investors ‘up-voted’ the evolving AI narrative for Reddit after gaining a better understanding of its unique and hard-to-replicate trove of content generated by its growing and increasingly global user base.”
3. Vaxcyte Inc. (NASDAQ:PCVX)
Average Upside Potential as of March 21: 105.48%
Number of Hedge Fund Holders: 50
Vaxcyte Inc. (NASDAQ:PCVX) is a clinical-stage biotechnology vaccine company. It develops conjugate and novel protein vaccines to prevent bacterial infectious diseases, with lead candidates like VAX-24 and VAX-31 targeting pneumococcal disease. It’s also developing vaccines for Group A Streptococcus, periodontitis, and dysentery/shigellosis.
The company is actively developing and commercializing its pneumococcal conjugate vaccines (PCVs), which combat bacterial diseases. This segment is driven by the global pneumococcal vaccine market, which is valued at ~$8 billion annually, with growth potential in the adult segment due to expanded vaccination guidelines. The company’s lead PCV candidate, VAX-31, has demonstrated robust immune responses and a safety profile in adults comparable to existing vaccines. The FDA granted Breakthrough Therapy Designation for VAX-31, which expedites its regulatory pathway.
Vaxcyte Inc. (NASDAQ:PCVX) is advancing VAX-31 into a Phase 3 program for adults, with initiation expected by mid-2025 and top-line data anticipated in 2026. The company is also progressing its VAX-24 and VAX-31 programs in infants, with data from the VAX-24 Phase 2 study expected by the end of FQ1 2025. To support the anticipated commercial demand, the company is investing in manufacturing scale-up, which includes the construction of a manufacturing suite at Lonza. It’s expected to be completed by early next year.
TimesSquare Capital U.S. Small Cap Growth Strategy stated the following regarding Vaxcyte Inc. (NASDAQ:PCVX) in its Q3 2024 investor letter:
“Vaxcyte, Inc. (NASDAQ:PCVX) (developer of vaccines) and Insmed Incorporated (developer of treatments for various pulmonary diseases). Vaxcyte’s lead pneumococcal vaccine candidate recently reported positive clinical data across a wider range of pneumonia types than current treatments. That created significant potential for Vaxcyte to take share within a multi-billion-dollar market, and we began to build a position.”
2. Core Scientific Inc. (NASDAQ:CORZ)
Average Upside Potential as of March 21: 121.19%
Number of Hedge Fund Holders: 66
Core Scientific Inc. (NASDAQ:CORZ) provides digital asset mining services in the US. It operates in self-mining, hosted mining, and HPC hosting, and offers infrastructure, software, and data center solutions. It deploys and operates mining equipment, provides hosting services, and delivers essential support for blockchain transaction processing.
The company is transitioning its primary revenue source from Bitcoin mining to High-Performance Computing (HPC). This is highlighted by an $8.7 billion, 12-year contract with CoreWeave, which is a GPU-accelerated cloud provider. It surpassed its $500 million in 2024 revenue. By the end of 2024, the company secured contracts for over 1,300 megawatts of power, with plans to expand its Denton facility by 70 megawatts and add $1.2 billion to the CoreWeave contract. It aims for 250 megawatts online by the end of 2024 and 590 megawatts by early 2027.
To diversify its HPC customer base, Core Scientific Inc. (NASDAQ:CORZ) aims to reduce CoreWeave’s contribution to less than 50% of its business by 2028. It intends to add 300 megawatts of capacity at existing sites and 400 megawatts at new sites by 2027. In Q4 2024, the company generated $8.5 million from HPC hosting, which showcased the beginning of its shift towards becoming a major player in the HPC market.
1. Janux Therapeutics Inc. (NASDAQ:JANX)
Average Upside Potential as of March 21: 162.90%
Number of Hedge Fund Holders: 54
Janux Therapeutics Inc. (NASDAQ:JANX) is a clinical-stage biopharmaceutical company that develops immunotherapies for cancer. Using its TRACTr and TRACIr platforms, it’s advancing candidates like JANX007 and JANX008 for various solid tumors. It also collaborates with Merck Sharp & Dohme Corp. to further develop its TRACTr technology.
The company is concentrating its efforts on its TRACTr therapy, specifically JANX007, which targets prostate-specific membrane antigen (PSMA) for prostate cancer treatment. Recent Phase 1 clinical trial data for JANX007 in metastatic castration-resistant prostate cancer (mCRPC) showed promising results. 100% of patients achieved PSA50 declines, 63% achieved PSA90 declines, and 50% demonstrated anti-tumor activity. The company plans to provide updates on JANX007 data in 2025 and is continuing patient enrollment in the ongoing Phase 1 trial.
On March 1, Scotiabank reduced its price target for the company from $62 to $41, while maintaining a Sector Perform rating. This adjustment reflects a more conservative outlook on JANX007’s potential, despite promising dose-escalation results from the ongoing Phase 1 trial. The firm believes that Janux Therapeutics Inc. (NASDAQ:JANX) has not yet met all the benchmarks necessary to establish a competitive advantage and attract a pharmaceutical acquisition.
While we acknowledge the growth potential of Janux Therapeutics Inc. (NASDAQ:JANX), our conviction lies in the belief that AI stocks hold great promise for delivering high returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than JANX but that trades at less than 5 times its earnings, check out our report about the 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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