Several companies, ranging from under-the-radar biotech names to major software providers, could still rake in major gains this year, according to analysts from Needham. Investors can look to these names for some potential returns after witnessing a series of market losses this month. Analysts at the firm forecast 17% upside to the stock based on Tuesday's closing price. The company reported a beat on second-quarter earnings in July amid negative sentiment on the sector, analyst Ryan Koontz noted. Still, the analyst expects continued upside on revenue and earnings per share, driven by a strong rural fiber access market.

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Persons: Needham, Biopharmaceuticals, Ami Fadia, MongoDB, Mike Cikos, Cikos, Ryan Koontz, — CNBC's Michael Bloom Organizations: Needham, Dow Jones, Nasdaq, Management, Education Locations: 2H23