10 Best New Stocks to Buy Other Than SpaceX

In this article, we will look at the 10 Best New Stocks to Buy Other Than SpaceX.

Newly listed stocks have been getting more attention as investors look for companies that are still early in their public-market life cycle. Renaissance Capital describes its IPO-focused strategy as a way to access the “largest, most liquid US-listed newly public company stocks.” The firm also highlights the idea of getting exposure “prior to their inclusion in core U.S. equity portfolios,” while telling investors to get in early on newly-traded companies.

First Trust makes a similar case, saying its strategy provides “timely and systematic exposure to newly listed companies.” The firm also ties IPOs and spin-offs to the “growth and innovativeness of the U.S. economy,” which fits the broader reason investors follow newly public companies. Many of these businesses come to market with exposure to themes such as artificial intelligence, healthcare innovation, financial technology, industrial automation, and consumer platforms.

At the same time, Fidelity notes that “There are risks associated with investing in a public offering,” including “unproven management.” The best new stocks are not simply the most hyped IPOs, but companies where the public-market story is becoming more credible after listing. With that in mind, let’s take a look at the 10 Best New Stocks to Buy Other Than SpaceX.

Our Methodology

We used the Finviz screener to identify stocks that were listed within the last 12 months, excluding SpaceX. We then limited our final selection to companies that have recently reported noteworthy developments likely to impact investor sentiment. These stocks are also popular among analysts and elite hedge funds.

Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Insider Monkey’s quarterly newsletter strategy selects 14 small-cap and large-cap stocks every quarter and has returned 599.2% since May 2014, beating its benchmark by 372 percentage points (see more details here).

10. Medline Inc. (NASDAQ:MDLN)

On June 12, 2026, William Blair analyst Brandon Vazquez said Medline Inc. (NASDAQ:MDLN) shares were lower after news of a fire at a distribution center in Tracy, California. Vazquez noted that the 1M square-foot facility represents 4% of Medline’s warehouse space in the U.S. and 3% globally. William Blair expects Medline to spend to ensure customer orders are fulfilled, which could pressure margins in the short term. Still, Vazquez expects the stock impact to be “manageable over the medium term,” citing Medline’s scale and ability to continue fulfilling customer orders. William Blair kept an Outperform rating on Medline.

Also on June 12, Leerink analyst Michael Cherny noted that a fire broke out the previous afternoon at Medline’s Tracy, CA, 1 million sq. ft. distribution facility, completely engulfing the building. No injuries were reported, and local authorities were still assessing the situation. Cherny said the facility had at least been taken offline, meaning Medline was evaluating contingency plans to maintain customer order fulfillment. Leerink expects some short-term financial impact and possible disruption in product availability and fill rates, even if redundancy plans help mitigate the issue. Longer term, Cherny said the fire does not change Medline’s opportunity, and Leerink maintained an Outperform rating.

Earlier, ABC7 News reported that a massive fire destroyed Medline’s 1 million-square-foot medical supply distribution center in Tracy, California, citing Tracy Police Department spokesperson Kaylin Heefner. Management noted that everyone in the facility was safe and accounted for, with no injuries reported so far. The warehouse fire started around 1 p.m. Thursday and was still burning Friday morning.

Medline Inc. manufactures med-surg products for hospitals, surgery centers, physician offices, post-acute facilities, and nursing home sites of care in the United States and internationally.

9. Cerebras Systems Inc. (NASDAQ:CBRS)

On June 24, 2026, Morgan Stanley raised its price target on Cerebras Systems Inc. (NASDAQ:CBRS) to $273 from $250 and kept an Overweight rating following what the firm called “a strong first quarter out of the gates.” Morgan Stanley said the IPO happened recently enough that it expected solid results with no surprises and presumed some IPO conservatism in forecasts. The firm added that better gross margin guidance “certainly indicates a conservative guidance mindset.”

Also on June 24, UBS raised its price target on Cerebras Systems to $320 from $300 and kept a Buy rating. UBS viewed Cerebras’s first post-IPO earnings call positively after raising guidance and confirmation of an Amazon (AMZN) agreement. The firm also pointed to broader customer diversification and accelerating demand for specialized infrastructure as factors that could support strong growth through the decade, with supply constraints likely becoming the main limitation rather than demand.

Wedbush also raised its price target on Cerebras Systems to $280 from $270 and kept an Outperform rating. Wedbush said Cerebras reported results ahead of initial expectations with no major surprises, while ongoing engagements with large customers support a constructive outlook.

Cerebras Systems Inc. operates as an artificial intelligence infrastructure company, designing and manufacturing an AI compute platform made up of proprietary systems and software for deployment in data centers up to supercomputer scale.

8. Qnity Electronics, Inc. (NYSE:Q)

On June 10, 2026, Qnity Electronics, Inc. (NYSE:Q) expanded its chemical mechanical planarization offerings with the introduction of Optivision Max polishing pads. The company said CMP processes are becoming more important as semiconductor devices shrink and grow more complex. Optivision Max CMP pads are designed to help manufacturers maintain tighter control across more demanding process steps.

On June 9, Qnity Electronics introduced advanced packaging material solutions for organic interposer applications, including Intervia 8540HSP multi-role copper and Cyclotene DF6800M dry film photo-imageable dielectric. The materials are designed to support advanced interconnect formation, redistribution layer designs, and emerging glass-based substrate structures. Chuck Xu, President of Interconnect Solutions at Qnity, said “AI is fundamentally changing how chips are packaged,” pointing to the need for materials that support stacking, performance, yield, and long-term reliability.

Last month, RBC Capital analyst Arun Viswanathan raised the firm’s price target on Qnity Electronics to $200 from $150 and kept an Outperform rating after the company’s Q1 earnings beat. Viswanathan said Qnity continues to see strong volumes, especially in Interconnect, which grew by more than 20% in Q1 on advanced packaging, AI-PCBs, and Thermal Management, which were all greater than 30%.

Qnity Electronics, Inc. provides materials and solutions to the semiconductor and electronics industries in the United States and internationally.

7. Sunbelt Rentals Holdings, Inc. (NYSE:SUNB)

On June 24, 2026, Citi lowered its price target on Sunbelt Rentals Holdings, Inc. (NYSE:SUNB) to $90 from $95 and kept a Buy rating. Citi updated its model after the fiscal Q4 report and cited a slightly less constructive rental margin outlook for the lower target.

On June 23, Sunbelt Rentals reported Q4 adjusted EPS of 74c, below the 76c consensus, while revenue of $2.75B topped the $2.64B consensus. CEO Brendan Horgan said fiscal 2026 was a “strong year,” citing the company’s customer-led strategy, disciplined execution, and team performance. Horgan also pointed to strong fourth-quarter momentum, with North America Specialty rental revenue up 15% and North America General Tool growing 4%. Sunbelt also announced the acquisition of Reliant Asset Management, which Horgan described as part of its bolt-on acquisition strategy and said is expected to be EPS accretive in year one after closing.

Sunbelt Rentals Holdings, Inc. sees FY27 revenue growth of 4.5%-7.5%, rental revenue growth of 5%-8%, and adjusted EBITDA of $4.85B-$5.05B.

Sunbelt Rentals Holdings, Inc. operates a construction, industrial, and general equipment rental business under the Sunbelt Rentals brand in the United States, the United Kingdom, and Canada.

6. X-Energy, Inc. (NASDAQ:XE)

On June 23, 2026, TD Cowen named X-Energy, Inc. (NASDAQ:XE) a best smid-cap idea for 2026 and kept a Buy rating with a $35 price target. TD Cowen said the stock’s pullback after the Q1 report looked overdone. The firm also said the Amazon power agreement submittal shift should not affect the project timeline and sees several catalysts that could help de-risk the X-energy story later this year.

On June 4, X-energy reported Q1 revenue of $43.4M, versus the $67.87M consensus. CEO J. Clay Sell said the company’s first earnings announcement as a public company marked an “important moment,” pointing to progress in commercializing advanced nuclear technology at scale. Sell said X-energy remained focused on advancing the Xe-100 and TRISO-X fuel while strengthening its regulatory and commercial foundation. CFO Daniel Gross said the recent IPO improved X-energy’s liquidity profile, providing approximately $1.1B in net proceeds of additional capital.

Earlier in June, X-Energy submitted an application to enter the United Kingdom’s Generic Design Assessment process for its Xe-100 High Temperature Gas-cooled Reactor. Subject to acceptance, the submission marks a significant milestone in X-energy and Centrica’s efforts to deploy up to 6 GW of new nuclear in the United Kingdom.

X-Energy, Inc. designs and develops nuclear reactor technology.

5. Navan, Inc. (NASDAQ:NAVN)

On June 25, 2026, Navan, Inc. (NASDAQ:NAVN) announced that Cummins (CMI) selected Navan after a review of the business travel landscape. Through the partnership, Navan will support the travel needs of more than 60,000 Cummins employees across locations in more than 60 countries and three global regions.

On June 24, Navan announced a partnership with Enbridge (ENB) to transform its travel program. Tracie Slone, VP & Chief Supply Chain Officer at Enbridge, said Navan helps “simplify travel,” pointing to reduced manual work and a better user experience while supporting efficiency and disciplined growth across Enbridge’s operations.

On June 11, BMO Capital raised its price target on Navan to $30 from $22 and kept an Outperform rating. BMO Capital said Navan’s Q1 results were strong, with upside on every key metric. The firm also noted accelerating growth in travel bookings and payments, another improvement in overall revenue growth, triple-digit growth in RFPs, enterprise gains, and an AI strategy that is helping the business scale efficiently.

Navan, Inc. operates an AI-powered software platform for travel and expense management.

4. Fermi Inc. (NASDAQ:FRMI)

On June 23, 2026, Stifel lowered its price target on Fermi Inc. (NASDAQ:FRMI) to $17 from $29 and kept a Buy rating. Stifel said Fermi has apparently made progress in the background after months of post-IPO uncertainty, but the continued wait for a firm contract with an initial tenant has “clearly delayed the story and rattled our valuation.” The firm updated its forecasts and said Fermi remains “a high-risk, high-reward, pre-revenue story.”

On June 11, Citizens said The Information’s report that OpenAI is in talks to lease a 10-gigawatt data center in Ohio through funding provided by Nvidia bodes well for Fermi. Citizens said the report improves the likelihood of a significant signed lease for Fermi as the company seeks its first lease for its developing 11 GW natural gas-powered complex. Fermi shares were up 13% to $6.35 following Citizens’ note.

Last month, Evercore ISI analyst Nicholas Amicucci downgraded Fermi to In Line from Outperform with a price target of $11, down from $20. Amicucci said the downgrade is “not a rejection” of the long-term scarcity value of Project Matador or the broader power-demand thesis, but reflects a changed underwriting standard. Amicucci said Fermi 2.0 is “credible evidence” that a reset has begun, but not yet proof that it has worked.

Fermi Inc. develops next-gen private electric grids that deliver highly redundant gigawatt-scale power to support next-gen intelligence and AI computing.

3. Aura Minerals Inc. (NASDAQ:AUGO)

On June 26, 2026, JPMorgan lowered its price target on Aura Minerals Inc. (NASDAQ:AUGO) to $104.50 from $112 previously and kept an Overweight rating on the shares. JPMorgan said that it has updated its financial model on Aura Minerals Inc..

On June 19, Aura Minerals Inc. approved repurchase programs covering its common shares and Brazilian Depositary Receipts. Under the programs, Aura may repurchase up to an aggregate of $200M of its outstanding common shares and Brazilian Depositary Receipts in the open market or through privately negotiated transactions. The program runs from June 18, 2026, until the earlier of completion of the repurchase or June 18, 2027, depending on market conditions. Aura Minerals Inc.’s board will review the programs periodically and may adjust, suspend, or discontinue them. Aura Minerals Inc.  expects to use its existing cash to fund repurchases.

Aura Minerals Inc. is a gold and copper production company focused on developing and operating gold and base metal projects in the Americas.

2. Firefly Aerospace Inc. (NASDAQ:FLY)

On June 26, 2026, Jefferies analyst Sheila Kahyaoglu said Firefly Aerospace Inc. (NASDAQ:FLY) will acquire Space-ng to integrate its AI vision-based autonomous navigation and optical guidance systems across the Blue Ghost lander and Elytra orbital vehicle programs. Kahyaoglu said the acquisition will strengthen GPS-independent navigation and in-house mission software capabilities. Jefferies has a Buy rating and $52 price target on Firefly Aerospace shares.

On June 15, KeyBanc upgraded Firefly Aerospace to Overweight from Sector Weight with a $50 price target. Following the SpaceX initial public offering-related selloff, KeyBanc said it sees “compelling opportunities” across the rapidly growing space sector. The firm said NASA activity is accelerating at a pace not seen since the Apollo era, and launch supply remains “structurally constrained amid exponential growth” in satellites and space-based applications. KeyBanc said it favors “well-capitalized” commercial space companies with exposure to national security and NASA priorities, and upgraded both Rocket Lab and Firefly Aerospace to Overweight.

Firefly Aerospace Inc. operates as a space and defense technology company and provides mission solutions for national security, government, and commercial customers in the United States.

1. Figma, Inc. (NYSE:FIG)

On June 26, 2026, Wells Fargo analyst Michael Turrin lowered the firm’s price target on Figma, Inc. (NYSE:FIG) to $36 from $42 and kept an Overweight rating. After attending Config ’26, Turrin said Wells Fargo’s confidence increased in Figma’s intelligent canvas and design platform strategy, as well as its ability to capture additional spending.

On June 25, RBC Capital analyst Rishi Jaluria lowered the firm’s price target on Figma to $22 from $28 and kept a Sector Perform rating after attending the company’s Config 2026 User Conference and Investor Session. Jaluria noted that management introduced new creative materials and intelligent tools, with discussion focused on a shift toward a seat-plus-consumption model and a broader product suite extending the canvas into code, motion, and AI-native creative workflows. RBC Capital came away with a better appreciation for Figma’s pace of innovation, though it noted that products remain early and their financial impact is unproven.

On June 17, Citi initiated coverage of Figma with a Buy rating and $36 price target. Citi said Figma’s “ramping AI traction” could bring “significant upside” to consensus estimates, citing industry checks showing strong AI traction, including seat upgrades and credit pack utilization.

Figma, Inc. develops and sells a collaborative, browser-based platform for designing, prototyping, and building digital experiences, along with subscriptions for access to its platform.

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