Nvidia Corp. (NASDAQ: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 (NYSE:RSP), has eked out a modest 3% return, while the market-cap weighted SPDR S&P 500 ETF Trust (NYSE:SPY) has posted a more substantial 7% surge.

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

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

What Reddit Users Think...

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

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

Image: Midjourney