Are we in a bear market rally or a new bull market? Different investors have different opinions. One thing is for sure: The stock market is moving higher after several months of declines.

Many stocks have recovered a significant chunk of their year-to-date losses, but many could also still have plenty of room to run. Here are three growth stocks that could soar 35% to 84%, according to Wall Street.

1. Meta Platforms

Meta Platforms (META -0.52%) isn't one of those growth stocks that have rebounded strongly in recent weeks. Shares of the social media and metaverse giant formerly known as Facebook are still down close to 50% year to date. However, Wall Street analysts remain generally bullish on Meta, with the consensus one-year price target reflecting an upside potential of 35%.

There's a good reason why Meta hasn't participated in the broader market rally: The company reported its first quarterly revenue decline ever in Q2. Granted, the drop was small -- only 0.9%. And on a constant-currency basis, Meta's revenue increased year over year. However, even these caveats can't make up for a clear change in fortune for the company.

Meta thinks that its focus on using artificial intelligence (AI) to recommend content will drive higher user engagement on Facebook and Instagram. This should, in turn, generate increased advertising revenue. 

Some are skeptical about the company's metaverse initiatives. However, CEO Mark Zuckerberg said in Meta's Q2 call, "I feel even more strongly now that developing these platforms will unlock hundreds of billions of dollars, if not trillions over time." If he's right, the stock should be able to soar by a lot more than 35% over the coming years.

2. Moderna

Most vaccine stocks experienced a rough first half of 2022 but have made a partial comeback. Moderna (MRNA 0.89%) is no exception, with its shares rising more than 20% since mid-June. Wall Street thinks Moderna can build even more momentum. The average analyst price target for the stock is 38% above the current share price.

Moderna handily beat analysts' estimates with its Q2 results. The company also recently became the first to win authorization for a booster targeting the coronavirus omicron variant, with a positive decision in the U.K. 

Omicron boosters could provide even more catalysts in the near future. Moderna hopes to secure authorization in the U.S. in time for a fall launch. The U.S. government is buying 66 million doses initially and has an option to purchase another 234 million doses.  

Moderna's long-term prospects don't depend only on its COVID-19 vaccines, though. The company's pipeline features three other non-COVID messenger RNA vaccines targeting cytomegalovirus, influenza, and respiratory syncytial virus (RSV).

3. Exact Sciences

Exact Sciences (EXAS -0.46%) stock plunged, partially rebounded, and then dropped again this year. The genomics stock is down more than 50% year to date. But Wall Street believes better days could be ahead: The consensus 12-month price target for Exact Sciences reflects an upside potential of nearly 84%.

The company beat analysts' expectations with its Q2 revenue and earnings results. However, Exact Sciences lowered the top end of its full-year revenue guidance range due primarily to the divestiture of its Oncotype DX Genomic Prostate Score test.

Probably the biggest knock against Exact Sciences is that it remains unprofitable. However, the company projects that it will generate positive adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) in 2024.

Exact Sciences should benefit from federal regulatory changes. Beginning next year, private payers must eliminate patient cost sharing for colonoscopies following positive stool-based screening tests. Medicare has proposed a similar move. These changes could boost sales of the company's flagship Cologuard DNA colorectal cancer test.