In August, the S&P 500 Index gained around 2%, with three standout stocks receiving over 20 upgrades in price targets. Shopify saw a 31% revenue growth, with an average price target of nearly $167, implying more than 14% upside. MongoDB’s revenue grew by 24%, increasing its price target to around $328, while Snowflake’s revenue grew by 32%, with a consensus price target of over $255, suggesting nearly 13% upside.

Shopify, MongoDB, and Snowflake all outperformed in August, with gains of approximately 3.5%, 32.7%, and 6.8%, respectively. Snowflake stands out for its strong net revenue retention and the significant upside projected by recent analyst forecasts.

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Read more at Nasdaq: August’s Most Upgraded: 3 Stocks With +20 Price Target Increases