Despite a recent correction in the Nasdaq, select Wall Street analysts believe that the market rally will continue, signaling potential opportunities for investors. CrowdStrike Holdings and Baidu, two prominent Nasdaq-listed companies, have caught the attention of these analysts, who predict they could see substantial growth in the future.

CrowdStrike Holdings, a cybersecurity specialist, garnered negative attention after a software update caused a global tech outage earlier this year. However, industry experts view this setback as a buying opportunity. Despite the public relations challenges, the company has demonstrated consistent growth, with its first-quarter revenue for fiscal year 2025 increasing by 33% year-over-year. Investment banks, including Oppenheimer, maintain a positive long-term outlook for CrowdStrike, with an outperform rating and a price target of $450, which implies a potential upside of 71%.

Baidu, often referred to as the "Google of China," is another Nasdaq stock with significant upside potential, according to Wall Street analysts. As the dominant player in the Chinese internet search market, controlling over 52% of it, Baidu has a competitive advantage by harnessing consumer data for effective targeting of digital advertising. Moreover, the company's investment in generative artificial intelligence (AI) has bolstered its growth prospects, despite a weak economy. For the first quarter, Baidu reported a 1% increase in total revenue and a decline in earnings per share. However, analysts, such as Fawne Jiang from Benchmark, believe that Baidu's AI initiatives will drive its top and bottom-line growth. Jiang maintains a buy rating on the stock and a price target of $180, indicating a potential upside of 102%.

The recent volatility in the Nasdaq Composite, which tracks the performance of over 3,000 stocks listed on the exchange, has raised concerns about the sustainability of the market's bull run. However, experts like Eric Freedman, Chief Investment Officer of U.S. Bank Wealth Management, remain optimistic, emphasizing that drawdowns of 5% to 10% are not uncommon in a given year. They believe there is still ample opportunity for growth in technology stocks, which have a long runway ahead.

Both CrowdStrike and Baidu have garnered favorable ratings from Wall Street analysts, with an overwhelming majority recommending them as a buy or strong buy. For CrowdStrike, 94% of analysts rate it as such, while no analysts recommend selling the stock. In the case of Baidu, 83% of analysts have a positive outlook on the stock.

Investors closely watching these developments expect that the undervalued status of both CrowdStrike and Baidu, along with their potential for future growth, could offer significant returns. With implied upsides of 71% and 102%, respectively, these companies appear to be poised to soar in the coming months. As always, investors are advised to conduct their own research and consult with financial professionals before making any investment decisions.

Disclaimer: The author of this article discloses ownership of positions in Baidu, CrowdStrike, and Microsoft. The Motley Fool also holds positions in Baidu, CrowdStrike, Microsoft, and U.S. Bancorp. This article is for informational purposes only and does not constitute financial advice.