These ten large-cap stocks were the best performers in August. Are they in your portfolio? Affirm Holdings, Inc. (AFRM) shares escalated 66.58% in August. It reported strong fourth-quarter earnings and provided upbeat first-quarter guidance, leading to increased investor confidence. CAVA Group, Inc. (CAVA) stock jumped 34.99% after the company reported better-than-expected second-quarter results. Analysts consequently boosted their stock price forecasts, reflecting positive market sentiment. Fortinet, Inc. (FTNT) shares rose 34.11%, driven by strong second-quarter results and higher-than-expected guidance for future quarters.

Similarly, Nu Holdings Ltd. (NU) saw its stock rise 29.95% after reporting strong second-quarter financial results. Kellanova (K) witnessed a 29.91% increase in its stock price after announcing a deal to be acquired by Mars for $83.50 per share, a move that significantly boosted market confidence. Nutanix, Inc. (NTNX) stock escalated 28.96% following the release of its fourth-quarter results, which led many analysts to raise their price targets for the company. Aspen Technology, Inc. (AZPN) shares rose 28.64% on the back of better-than-expected fourth-quarter results, further bolstering investor confidence.

Meanwhile, MercadoLibre, Inc. (MELI) stock rocketed 28.37% due to its robust performance in recent financial reports. Shopify Inc. (SHOP) shares increased by 27.33% after the company posted a strong earnings report, prompting several analysts to revise their price targets upward. Starbucks Corporation (SBUX) saw a 25.91% rise in its stock price, partly influenced by the announcement that Chipotle Mexican Grill, Inc. CEO and Chairman Brian Niccol would be taking over as Starbucks' new Chairman and Chief Executive Officer, effective September 9.

Also read: Intel, Moderna, and Dollar General were among the top 10 large-cap losers in August. Are the others in your portfolio? Photo via Shutterstock. © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.