The past year saw a strong bull market, and this year stocks are still on a winning streak. The NASDAQ has seen a 30% gain over the last 12 months, while the S&P 500 index is up 25% over the same period. Investors are now looking for solid choices with more potential for growth.
While the typical strategy is to buy low and sell high, there are also opportunities in stocks that have already shown strong performance in recent months. These stocks may still have room for further growth despite their current high levels.
Wall Street analysts are focusing on stocks that have shown triple-digit percentage gains in the last year and are still performing well. Two such stocks with a Strong Buy consensus rating are Soleno Therapeutics (SLNO) and MoneyLion (ML).
Soleno Therapeutics is a biopharma company working on new drug candidates for rare genetic diseases. The company’s leading candidate, DCCR, has shown promising results in clinical trials for Prader-Willi Syndrome. Analysts are optimistic about the potential approval of DCCR, with a price target of $72, representing a 40% upside potential for SLNO shares.
MoneyLion is a fintech company in the personal banking sector, catering to the average American consumer. The company offers a range of financial services and saw a 98% increase in customers in the first quarter of 2024. Analysts believe that MoneyLion’s execution and growth potential make it an attractive investment, with a price target of $109, implying a 25% upside for ML shares.
Both stocks have received unanimous positive analyst reviews and have a Strong Buy consensus rating. Soleno Therapeutics has a $70.75 average price target, while MoneyLion has a $114 average price target, suggesting gains of 37% and 31%, respectively, over the next year.
For more stock ideas, visit TipRanks’ Best Stocks to Buy tool. Please note that the opinions expressed in this article are those of the featured analysts and should be used for informational purposes only. Conduct your own analysis before making any investment decisions.