Two Promising Growth Stocks Projected for Strong Upside in 2024

Intuit Stock

Investors keen on expanding their portfolio often look to diversify with growth stocks showing robust fundamentals across various sectors. Identified are two such stocks garnering significant attention and a consensus “strong-buy” rating from financial analysts.

Skye Bioscience 

Skye Bioscience (OTCMKTS:SKYE) is a biopharmaceutical firm established in 2014, specializing in cannabinoid-based therapeutics. The company’s stock has surged by an impressive 427.2% year-to-date, vastly surpassing the S&P 500 Index’s 10.6% gain. It focuses on the therapeutic potential of cannabinoids, particularly cannabidiol (CBD), aiming to develop treatments for glaucoma, fibrotic, inflammatory, and metabolic diseases.

Despite not having approved revenue-generating products, Skye Bioscience boasts a promising pipeline, including the completion of a Phase 2a clinical trial for SBI-100 Ophthalmic Emulsion and FDA approval for a Phase 2 clinical trial with nimacimab. Recent plans to raise $40 million in gross proceeds underscore its commitment to advancing drug development programs.

While the company’s involvement in the burgeoning cannabis industry and the growing acceptance of medical cannabis present significant opportunities, it’s important to note the associated risks. Skye Bioscience remains unprofitable, with regulatory challenges and clinical trial outcomes among potential factors affecting its financial performance.

Analysts anticipate a potential upside of 39.5% for Skye Bioscience, emphasizing its potential in the biotech and cannabis sectors, albeit with inherent risks.


Intuit (NASDAQ:INTU) operates in the fintech sector, offering digital financial solutions for individuals, small businesses, and accounting professionals. Its suite of popular financial software, including QuickBooks and TurboTax, caters to diverse market segments, with artificial intelligence integration enhancing efficiency.

Despite underperforming the broader market with a 3.8% YTD gain, Intuit showcased robust financial performance in the second quarter of fiscal 2024, with revenue growth of 11% year-over-year and a 20% increase in adjusted earnings per share. The company’s commitment to innovation is evident in its GenAI Operating System (GenOS), driving breakthrough experiences across its platform.

Intuit’s aggressive dividend hikes, along with consistent dividend payments for the past 12 years, make it an attractive investment option. Management’s confidence in meeting full-year revenue and earnings growth guidance, coupled with analysts’ positive projections, underpin its position as a compelling investment in the fintech sector.

With a consensus “strong-buy” rating from Wall Street analysts, Intuit stock is projected to rise, with a mean target price implying a modest 2% increase and a high target price suggesting a significant upside potential of 19.5% in the next 12 months.


Both Skye Bioscience and Intuit present promising growth opportunities in their respective sectors, backed by strong fundamentals and positive analyst sentiment. However, investors should carefully consider associated risks and conduct thorough due diligence before making investment decisions.

Featured Image: Megapixl

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