In this article, we will list the 5 Best New Stocks to Buy Other Than SpaceX. Please visit 10 Best New Stocks to Buy Other Than SpaceX if you would like to see the extended list and the methodology behind it.
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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. (NASDAQ:NAVN) 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. (NASDAQ:FRMI) 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. (NASDAQ:AUGO).
On June 19, Aura Minerals Inc. (NASDAQ:AUGO) 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. (NASDAQ:AUGO)’s board will review the programs periodically and may adjust, suspend, or discontinue them. Aura Minerals Inc. (NASDAQ:AUGO) expects to use its existing cash to fund repurchases.
Aura Minerals Inc. (NASDAQ:AUGO) 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. (NASDAQ:FLY) 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. (NYSE:FIG) develops and sells a collaborative, browser-based platform for designing, prototyping, and building digital experiences, along with subscriptions for access to its platform.
While we acknowledge the potential of FIG to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than FIG and that has 100x upside potential, check out our report about the cheapest AI stock.
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