Top Stocks Not Named Nvidia You Need To Know About In 2024: Here's What Investors Think About Them (Wall Street Vs. Reddit)

Nvidia Corp. NVDA has undoubtedly emerged as the standout performer among S&P 500 stocks in the initial two months of 2024.

While the Santa Clara, California-based tech company enjoyed a 60% gain, there’s a pack of lesser-trumpeted names that have quietly delivered impressive returns in their own right.

These stocks have significantly outpaced the broader market.

Within the S&P 500 index, 10 stocks have achieved returns exceeding 25% so far this year. Noteworthy among them are three from the Magnificent Seven subset, showcasing the enduring strength of mega-cap tech players.

In contrast, the median S&P 500 stock, tracked by the S&P 500 Equal Weight ETF RSP, has eked out a modest 3% return, while the market-cap weighted SPDR S&P 500 ETF Trust SPY has posted a more substantial 7% surge.

Top 10 Performing S&P 500 Stocks (As Of Feb. 29, 2024)

Company	YTD Return	Market Cap
NVIDIA Corporation	60.02%	$1,950.35B
Constellation Energy Corporation CEG	43.31%	$53.04B
Meta Platforms, Inc. CEG	38.14%	$1,246.58B
Advanced Micro Devices, Inc. CEG	29.17%	$307.66B
Eli Lilly and Company LLY	29.03%	$677.07B
Ralph Lauren Corporation RL	28.37%	$11.83B
Tapestry, Inc. TPR	28.27%	$10.83B
Catalent, Inc. CTLT	28.24%	$10.41B
Uber Technologies, Inc. UBER	28.18%	$163.88B
Juniper Networks, Inc. JNPR	25.12%	$11.96B

What Wall Street Thinks…

Investors are likely considering whether the top-performing stocks still offer room for further growth, given their already impressive returns.

A reliable measure to gauge this potential is comparing the current stock price with the 1-year median price target projected by Wall Street analysts.

Among the top 10 S&P 500 stocks year-to-date, Uber Technologies stands out with the largest potential upside to its median price target, showing a significant difference of 13.8%. Catalent follows closely behind, boasting a 10% potential upside, while Nvidia still maintains a respectable 7% upside compared to its median price target.

However, it’s worth noting that there are other stocks within the S&P 500 index showing even more substantial potential upside.

Here’s a summary of the significant disparities between current market prices and Wall Street analysts’ forecasts within a one-year horizon.

Top 10 S&P 500 Stocks By Upside Potential Vs. Wall Street’s Price Target

Company	1-Year Price Target (Med) vs Current Price
Warner Bros. Discovery, Inc. WBD	54.73%
Newmont Corporation NEM	46.80%
Caesars Entertainment, Inc. CZR	45.11%
The AES Corporation AES	43.79%
Insulet Corporation PODD	43.12%
First Solar, Inc. FSLR	41.12%
Schlumberger Limited SLB	41.03%
Carnival Corporation & pIc CCL	38.85%
Biogen Inc. BIIB	36.04%
Baker Hughes Company BKR	35.75%

What Reddit Users Think…

A method for gauging social sentiment among U.S. stocks is provided by the VanEck Social Sentiment ETF BUZZ.

This fund allocates investments to companies that exhibit favorable insights gathered from various online sources, such as social media platforms, news articles, blog posts, and other alternative datasets.

Below, a table highlights the top 10 holdings within the BUZZ ETF, along with their year-to-date performance:

Most-Loved Stocks By Social Users

Company	Weight In Buzz ETF	YTD Return
Coinbase Global, Inc. COIN	4.36%	16.00%
MicroStrategy Incorporated MSTR	3.42	61.51
Super Micro Computer, Inc. SMCI	3.37	203.07
NVIDIA Corporation	3.21	60.06
SoFi Technologies, Inc. SOFI	3.16	-9.55
PayPal Holdings, Inc. PYPL	3.09	-1.68
Tesla, Inc. TSLA	3.07	-19.05
Advanced Micro Devices, Inc.	3.00	29.65
Meta Platforms, Inc.	2.96	38.49
Amazon.com, Inc. AMZN	2.93	15.23

Now Read: EXCLUSIVE: Magnificent 7 Takes Center Stage In Roundhill’s Expanded ETF Lineup With Inverse And Leveraged Options

Image: Midjourney