As the Nasdaq Composite takes a breather after a bullish run, Wall Street analysts are still optimistic about its future potential. Despite concerns of a market peak, market experts believe that the tech-heavy index still has room to grow, fueled by a resilient U.S. economy and expectations of imminent Fed rate cuts.

According to select Wall Street analysts, there are two Nasdaq stocks that have the potential to soar as much as 141%.

The first stock with significant upside is Sirius XM Holdings (SIRI -6.19%). With a virtual monopoly in the North American satellite radio services market, Sirius has amassed an impressive 34 million paying subscribers. When factoring in its ad-supported music streaming service Pandora, the company boasts a listener base of 150 million. However, in recent years, macroeconomic conditions have weighed on Sirius, leading to a 49% decline in its stock value.

Despite these challenges, some analysts believe a turnaround is in sight. Benchmark analyst Matthew Harrigan has assigned a buy rating to Sirius XM, setting a price target of $6.50, representing a potential upside of 121% compared to its recent closing price. He notes that investors are misunderstanding the upcoming reverse stock split and the company's strategic initiatives. With an attractive valuation of less than 9 times earnings, Sirius XM has the potential for growth as declining inflation allows for increased discretionary spending.

The second stock with significant upside is Celsius Holdings (CELH -0.22%). As a purveyor of healthy energy drinks, Celsius has become the third-largest brand in the energy drink market by focusing on healthier alternatives. While leading competitors Red Bull and Monster Beverage have struggled, Celsius has continued to generate robust growth and gain market share, driving 47% of all industry growth in the second quarter.

Despite fears of decelerating growth, Ladenburg Thalmann analyst Jeffrey Cohen maintains a buy rating and a $78 price target on Celsius, suggesting potential gains of 141% compared to its recent closing price. He highlights Celsius' leadership in the functional energy drink market and its efforts to strengthen its position. Despite the recent drop in stock value, Celsius is still attractively priced at 31 times earnings, indicating substantial potential for upside.

While these predictions are based on the opinions of select Wall Street analysts, investors should conduct their own research and consider their investing strategy before making any decisions.

Disclaimer: The author of this article may have positions in Monster Beverage. The Motley Fool has positions in and recommends Celsius and Monster Beverage. The Motley Fool has a disclosure policy.