BlackRock, Inc. is a publicly owned investment manager. The firm primarily provides its services to institutional, intermediary, and individual investors including corporate, public, union, and industry pension plans, insurance companies, third-party mutual funds, endowments, public institutions, governments, foundations, charities, sovereign wealth funds, corporations, official institutions, and banks. It also provides global risk management and advisory services. The firm manages separate client-focused equity, fixed income, and balanced portfolios. It also launches and manages open-end and closed-end mutual funds, offshore funds, unit trusts, and alternative investment vehicles including structured funds. The firm launches equity, fixed income, balanced, and real estate mutual funds. It also launches equity, fixed income, balanced, currency, commodity, and multi-asset exchange traded funds. The firm also launches and manages hedge funds. It invests in the public equity, fixed income, real estate, currency, commodity, and alternative markets across the globe. The firm primarily invests in growth and value stocks of small-cap, mid-cap, SMID-cap, large-cap, and multi-cap companies. It also invests in dividend-paying equity securities. The firm invests in investment grade municipal securities, government securities including securities issued or guaranteed by a government or a government agency or instrumentality, corporate bonds, and asset-backed and mortgage-backed securities. It employs fundamental and quantitative analysis with a focus on bottom-up and top-down approach to make its investments. The firm employs liquidity, asset allocation, balanced, real estate, and alternative strategies to make its investments. In real estate sector, it seeks to invest in Poland and Germany. The firm benchmarks the performance of its portfolios against various S&P, Russell, Barclays, MSCI, Citigroup, and Merrill Lynch indices. BlackRock, Inc. was founded in 1988 and is based in New York City with additional offices in Boston, Massachusetts; London, United Kingdom; Gurgaon, India; Hong Kong; Greenwich, Connecticut; Princeton, New Jersey; Edinburgh, United Kingdom; Sydney, Australia; Taipei, Taiwan; Singapore; Sao Paulo, Brazil; Philadelphia, Pennsylvania; Washington, District of Columbia; Toronto, Canada; Wilmington, Delaware; and San Francisco, California.

BlackRock appears to be a high-quality business, but the current valuation is already clearly ahead of the underlying fundamentals. The company’s profitability is strong: ROE of 15.59%, ROA of 5.23%, and ROI of 11.55% are above the industry medians, while net and operating margins remain high at 24.09% and 32.57%, respectively. At the same time, the yearly figures show that profitability is not improving linearly: ROE and ROI have improved from the weak levels at the end of 2025, but still look less compelling than they might at such elevated multiples. Revenue and operating income have generally been growing over the recent periods, which supports the investment case; however, the pace is not strong enough to justify a sector premium without reservations. The balance sheet is solid: debt/equity of 0.34 is below the industry median, the current ratio of 4.09 is high, and equity is growing, which reduces financial risk. The weak point is the extremely expensive valuation: P/E of 25.26, P/S of 6.33, P/B of 2.88, and especially P/FCF of 45.45 are significantly above industry medians, so the market is already pricing in a high level of quality and stability. This means that even with strong fundamentals, the potential for further re-rating is limited, and the margin of safety on valuation multiples is thin. Dividend yield is effectively absent on a TTM basis, and historically it has been low, so the dividend factor does not provide meaningful support to the valuation. The very high gross margin of 100% for a business like this likely reflects reporting specifics rather than an additional driver of value creation. Overall, the fundamentals mainly confirm BLK’s premium status rather than provide a case for an aggressive target increase. For an investor, this is a story of a high-quality, profitable, and financially resilient leader, but with an already expensive entry price and limited upside without an acceleration in earnings growth.

BlackRock, Inc.

A high-quality and profitable leader with a strong balance sheet, but the valuation is already very high; fundamentals support the premium, however upside from further re-rating is...

Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the Financial Select Sector SPDR Fund (Symbol: XLF) where we have detected an approximate $369.7 million dollar inflow -- that's a 0.7% increase week over week in outstanding units (from 987,145,427 to 993,645,427). Among the largest underlying components of XLF, in trading today Morgan Stanley (Symbol: MS) is down about 2.2%, Blackrock Inc (Symbol: BLK) is up about 1.9%, and Capital One Financial Corp (Symbol: COF) is up by about 0.6%. For a complete list of holdings, visit the XLF Holdings page » The chart below shows the one year price performance of XLF, versus its 200 day moving average:
Looking at the chart above, XLF's low point in its 52 week range is $47.67 per share, with $57.33 as the 52 week high point — that compares with a last trade of $57.31. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Further XLF Research:
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Noteworthy ETF Inflows: XLF, MS, BLK, COF

One of the largest and most well-known asset management stocks — BlackRock BLK — kicked off second-quarter 2026 earnings on July 15. BLK handily surpassed the Zacks Consensus Estimate. Higher revenues and assets under management (AUM) balance more than offset a rise in total expenses. Since then, many other asset managers came out with quarterly numbers, reflecting solid performance.
How to Recognize Potential Outperformers?
We are using our proprietary methodology to find stocks that are poised to outpace the Zacks Consensus Estimate in the quarter. By using the Zacks Stock Screener, we have identified three such asset management stocks — Affiliated Managers Group AMG, Franklin Resources BEN and KKR & Co. KKR.
These stocks have the ideal combination of two key ingredients — a positive Earnings ESP and a Zacks Rank #3 (Hold) or better — to surpass estimates. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.
Our proprietary methodology, Earnings ESP, shows the percentage difference between the Most Accurate Estimate and the Zacks Consensus Estimate. Research shows that for stocks with this combination of rank and ESP, chances of a positive earnings surprise are as high as 70%.
Before we go into the details regarding the above-mentioned asset managers, let us understand the factors that are likely to have influenced their quarterly performances.
Factors Likely to Have Influenced Asset Managers’ Q2 Earnings
Asset managers are likely to have benefited from favorable capital-market conditions during the second quarter of 2026. The S&P 500 Index gained nearly 15% during the April-June period, driven by strong performance in U.S. equities, particularly AI-related technology stocks, and resilient global markets. The appreciation in client portfolio values is expected to have supported AUM and, consequently, management fee revenues.
Fixed-income markets also generated moderate positive total returns, although trading remained volatile amid geopolitical tensions in the Middle East, concerns over energy-driven inflation and a flattening U.S. yield curve. Nevertheless, positive bond-market returns, along with stable investor demand for fixed-income products, are likely to have contributed to sequential AUM growth.
Investor flows may have been uneven across asset classes, with continued demand for exchange-traded funds, private-market strategies and customized investment solutions. However, persistent fee pressure and the shift toward lower-cost passive products are likely to have constrained revenue growth for traditional active managers.
On the expense front, elevated compensation, distribution and technology-related costs are expected to have weighed on operating leverage. Asset managers continue to invest in artificial intelligence, machine learning, data analytics and digital platforms to improve investment capabilities and client servicing. While these initiatives may increase near-term expenses, they are expected to enhance operational efficiency and support margins over the longer term.
Q2 Earnings Expectations
The Zacks Finance sector’s (of which asset management is part) earnings are projected to rise 24.3% year over year in the second quarter of 2026. This compares with the 25.6% increase recorded in the first quarter of 2026.
(For a detailed look at the earnings growth projections for this sector and others, please read our Earnings Preview.)
3 Potential Safe Bets: AMG, BEN & KKR
Affiliated Managers, headquartered in Massachusetts, is a global asset manager with investments in high-quality, independent partner-owned firms or affiliates.
The company is likely to have gained from diverse product offerings, a pivot toward the alternative strategy and global distribution capability. AMG has been pivoting toward private markets and liquid alternatives, fueling strong client inflows into these segments and offsetting weakness in traditional asset categories.
Affiliated Managers is expected to announce results on July 30, before market open. The Zacks Consensus Estimate for its second-quarter 2026 earnings of $7.85 per share implies a rise of 45.6% from the year-ago reported figure. AMG has an Earnings ESP of +1.86% and a Zacks Rank #2 (Buy).
AMG has an impressive earnings surprise history. The company’s earnings surpassed the Zacks Consensus Estimate in each of the last four quarters, with the average beat being 4.26%.
Affiliated Managers Group, Inc. Price and EPS Surprise
Franklin Resources' fiscal third quarter 2026 performance is expected to have benefited from improving market conditions and stronger investor sentiment. The company, which operates as Franklin Templeton, benefited as rising equity markets helped lift asset values and boosted demand for investment products.
BEN’s preliminary AUM rose marginally on a sequential basis to $1.79 trillion as of June 30, 2026, reflecting the positive impacts of markets and $9 billion of long-term net inflows. Also, the company stepped up its efforts to strengthen its presence in digital assets and expand its active cryptocurrency investment capabilities by acquiring 250 Digital, an active cryptocurrency investment management firm. Subsequently, it launched Franklin Crypto, a dedicated active digital asset management division. These trends suggested that Franklin Resources has been gaining from a healthier investment backdrop, improved client activity and better flow momentum.
Franklin Resources is scheduled to announce fiscal third-quarter (ended June 30, 2026) results on July 31, before market open. The Zacks Consensus Estimate for its fiscal third-quarter earnings of 66 cents per share implies a rise of 34.7% from the year-ago reported figure. The company has an Earnings ESP of +1.14% and currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
BEN has an impressive earnings surprise history. The company’s earnings surpassed the Zacks Consensus Estimate in each of the last four quarters, with the average beat being 19%.
Franklin Resources, Inc. Price and EPS Surprise
KKR & Co. has been witnessing growth in fee-earning AUM and total AUM, supported by its diversified product and revenue mix, strong position in the alternative investments space, and steady net inflows. With client activity remaining robust during the second quarter 2026, the company is expected to have recorded further growth in AUM, driven by stronger inflows.
Additionally, KKR is expected to have generated profits from deal exits during the to-be-reported quarter. Based on the company's preliminary estimate for the period between March 31 and June 24, 2026, total realized performance income and net realized investment income are expected to exceed $900 million, up from $475 million in the prior-year quarter.
KKR & Co. is scheduled to announce results on July 30, before market open. The Zacks Consensus Estimate for its second-quarter 2026 earnings of $1.42 per share implies a rise of 20.3% from the year-ago reported figure. The company has an Earnings ESP of +0.18% and a Zacks Rank #3.
KKR has a decent earnings surprise history. The company’s earnings surpassed the Zacks Consensus Estimate in three of the last four quarters and missed once, with the average beat being 3.82%.
KKR & Co. Inc. Price and EPS Surprise
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3 Asset Managers With Positive Earnings Surprise Potential in Q2

T. Rowe Price Group, Inc. TROW is scheduled to report second-quarter 2026 results on July 31, before the opening bell. The company’s quarterly earnings and revenues are expected to have increased from the year-ago reported levels.
In the last reported quarter, TROW’s results benefited from higher investment advisory fees and a rise in assets under management. Positive capital allocation-based income was also encouraging. However, higher expenses acted as a headwind.
T. Rowe Price’s earnings outpaced the Zacks Consensus Estimate in three of the trailing four quarters and missed once, the average surprise being 4.88%.
T. Rowe Price Group, Inc. Price and EPS Surprise
Key Factors & Estimates for TROW in Q2
In the April-June quarter, the S&P 500 Index rose more than 14%, driven by strong performance in U.S. equities, particularly AI-related technology stocks and resilient global markets. As such, TROW’s assets under management (AUM) are likely to have witnessed decent growth in the quarter to be reported.
Investor flows may have been uneven across asset classes, with continued demand for exchange-traded funds, private-market strategies and customized investment solutions. However, persistent fee pressure and the shift toward lower-cost passive products are likely to have constrained revenue growth for traditional active managers. Per the company’s monthly metrics data, its net inflows were $0.8 billion for the quarter ended June 30, 2026.
The company’s preliminary AUM of $1.89 trillion as of June 30, 2026, rose marginally from the prior month’s reported level.
The Zacks Consensus Estimate for total AUM is pegged at $1.91 trillion, indicating a sequential rise of 11.7%.
The Zacks Consensus Estimate for investment advisory fees is pegged at $1.73 trillion, suggesting a rise of 2.7% on a sequential basis.
The Zacks Consensus Estimate for administrative, distribution and servicing fees of $149 million implies an increase of 7.9% from the prior quarter’s actual.
Coming to expenses, T. Rowe Price continues to incur significant expenditure to attract investment advisory clients and additional investments from existing clients. The company is also investing heavily in technology, distribution and employee compensation to keep pace with evolving customer needs and strengthen its platform. This is expected to have increased its expenses in the quarter to be reported. However, the company's cost-management efforts are likely to have offset the rise to some extent.
What the Zacks Model Unveils for TROW
Our proven model does not conclusively predict an earnings beat for TROW this time around. This is because the company does not have the right combination of the two key elements, a positive Earnings ESP and Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold).
You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.
Earnings ESP: The company has an Earnings ESP of 0.00%.
Zacks Rank: T. Rowe Price currently carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for second-quarter earnings has been unchanged at $2.52 per share over the past seven days, indicating a year-over-year increase of 12.5%.
The consensus estimate for revenues of $1.92 billion implies an 11.6% rise from the prior-year quarter’s actual.
Performance of Other Asset Managers
BlackRock’s BLK second-quarter 2026 adjusted earnings of $13.91 per share handily surpassed the Zacks Consensus Estimate of $12.72. The figure reflects a 15% rise from the year-ago quarter’s actual.
BLK’s results benefited from a rise in revenues. The AUM balance witnessed robust year-over-year growth, driven by net inflows, to record levels. However, higher expenses created a headwind.
Blackstone’s BX second-quarter 2026 distributable earnings of $1.52 per share outpaced the Zacks Consensus Estimate of $1.33. The figure jumped 26% from the prior-year quarter.
BX’s results benefited from a rise in AUM and higher revenues. An increase in GAAP expenses was the undermining factor.
Beyond Nvidia: AI's Second Wave Is Here
The AI revolution has already minted millionaires. But the stocks everyone knows about aren't likely to keep delivering the biggest profits. AI’s second wave is moving from infrastructure to implementation and these companies are at the forefront of this transition, positioned to become what Amazon and Google were to the internet era.
See Stocks Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

T. Rowe Price Set to Report Q2 Earnings: What's in Store for the Stock?

Key Points
Ethereum is the world's largest platform for building decentralized software applications.
Tom Lee, Wall Street analyst and chairman of Bitmine Immersion Technologies, thinks Ethereum will soon enjoy growing adoption.
Lee predicts Ether could eventually reach $250,000 per coin.
Cryptocurrencies have had a rough time since October 2025, with most major coins and tokens trading deeply in the red. Not even the industry leaders have escaped the carnage, with Ethereum's native cryptocurrency, Ether (CRYPTO: ETH), down more than 60% from its all-time high.
But Tom Lee, Wall Street analyst and chairman of Bitmine Immersion Technologies (NYSE: BMNR), thinks this could be an incredible opportunity to buy Ether. It currently trades at about $1,940 per coin, but he predicts it is about to embark on a staggering rally to $250,000, representing a potential gain of almost 13,000%.
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Lee says the transition to "Ethereum 2.0" could create a tremendous amount of value, and here's what he means.
How does Ethereum work?
Ethereum is a platform where people develop decentralized software applications, which are popular in industries such as finance and gaming. These apps are governed by slivers of computer code called smart contracts that live on the Ethereum blockchain, and they typically can't be changed. This approach ensures no person or company can manipulate an app's rules or functions, so it always remains fully decentralized.
The Ethereum network itself is also decentralized, because it's hosted on thousands of nodes, or computers, all over the world, which store an updated copy of its blockchain. Therefore, the network won't be compromised even if some nodes suffer an outage, which is how Ethereum has maintained 100% uptime during the past decade.
Ether is the lubricant that keeps the network running. Whenever someone uses an Ethereum-based app, that person activates a smart contract and triggers a fee payable in Ether, which covers the computer processing costs. That means demand for Ether grows organically as the network becomes more popular, which should result in a higher value per coin, at least in theory.
What is Ethereum 2.0?
Tom Lee thinks there is a fundamental shift happening right now, which will see Ethereum leave the early non-fungible token (NFT) and crypto software application era behind, and move into the mainstream economy. He thinks major financial institutions will increasingly build payment rails on the network, and he also believes it could become the primary settlement layer for transactions conducted by artificial intelligence (AI)-powered agents.
BlackRock and JPMorgan Chase have launched investment funds using the Ethereum network this year, which are hosted on the blockchain instead of traditional stock exchanges. These funds have already attracted billions of dollars combined, which they invest in secure assets such as U.S. Treasury securities.
Robinhood Markets also recently launched an Ethereum-based project, which tokenizes real-world stocks to allow clients to bypass regular exchanges and buy and sell shares through the blockchain instead. Blockchains never close, so clients can transact 24 hours per day, even on weekends.
On the AI side, digital agents will eventually need their own identities and potentially even their own money. An established, trusted, and decentralized network like Ethereum could be perfectly suited to processing their transactions, and there's no telling how big this opportunity could be over the long term.
Is Lee's target realistic?
There are 120.7 million Ether coins in circulation right now, so at $1,940 each, the ecosystem has a market capitalization of about $234 billion. Some simple math suggests that a price of $250,000 per token would result in a market cap of $30.1 trillion, which is roughly equal to the output of the entire U.S. economy last year. It would also make Ether six times more valuable than Nvidia, the world's largest company, which is currently valued at about $5 trillion.
If Ethereum does become an important utility in the financial and AI industries, then it's possible Lee's $250,000 target will come to fruition one day. However, despite the adoption by major financial institutions so far, the network still only has roughly 2.2 million daily active wallet addresses across its main blockchain and all major Layer-2 blockchains, which is actually down from 3.7 million a year ago -- and trending lower, according to Growthepie.
In other words, it seems Ethereum is still operating on the fringes of industries such as finance, and regular consumers aren't flocking to tokenized funds or assets. It's unclear what could eventually drive mainstream adoption, but that is a critical hurdle standing in the way of Lee's ambitious target.
It's also important to remember that Lee is the chairman of Bitmine Immersion Technologies, which currently owns 5.8 million Ether coins, pr nearly 5% of the entire circulating supply. The company's position is worth a whopping $11 billion, but that would grow to a staggering $1.4 trillion if Ether hits $250,000 per coin. Therefore, his highly bullish forecast is a little self-serving, and I'd treat it with a healthy dose of skepticism.
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JPMorgan Chase is an advertising partner of Motley Fool Money. Anthony Di Pizio has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends BlackRock, Ethereum, JPMorgan Chase, and Nvidia. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

1 Popular Cryptocurrency to Buy Before It Soars 13,000%, According to Bitmine's Tom Lee

KKR & Co. Inc. KKR is slated to report second-quarter 2026 results on July 30, 2026, before the opening bell. Its earnings and revenues in the to-be-reported quarter are expected to have increased year over year.
In the last reported quarter, the company's earnings surpassed the Zacks Consensus Estimate. Its results benefited from higher assets under management (AUM) and transaction fees in the capital markets business. However, higher expenses acted as a headwind.
The company boasts an impressive earnings surprise history. Its earnings surpassed the Zacks Consensus Estimate in three of the trailing four quarters and missed once, with the average beat being 3.82%.
KKR & Co. Inc. Price and EPS Surprise
Earnings & Sales Estimates for KKR
The Zacks Consensus Estimate for earnings for the second quarter of 2026 is pegged at $1.42 per share, which has been revised upward over the past week. The figure indicates marginal growth from the year-ago quarter's reported figure.
The consensus estimate for sales for the second quarter of 2026 is pegged at $1.52 billion, reflecting a 18.5% year-over-year increase.
KKR & Co.'s Recent Developments
In May 2026, KKR completed its previously announced acquisition of Arctos Partners, expanding its presence in sports franchise investing and enhancing its GP solutions and secondaries capabilities. The transaction aligns with KKR's long-term strategy to scale its asset management platform and achieve at least $1 trillion in AUM by 2030.
The acquisition strengthens KKR's sourcing capabilities across private markets and expands its relationships with sports industry participants. It is also expected to enhance its wealth and institutional distribution capabilities, with perpetual and long-dated capital projected to account for nearly 53% of its $759 billion AUM.
Now, let us discuss the factors that are likely to have influenced KKR's second-quarter performance.
Key Factors & Estimates for KKR in Q2
KKR has been witnessing growth in fee-earning AUM and total AUM, supported by its diversified product and revenue mix, strong position in the alternative investments space and steady net inflows. With client activity remaining robust during the second quarter, the company is expected to have recorded further growth in AUM, driven by stronger inflows.
The Zacks Consensus Estimate for AUM is pegged at $782.4 billion, suggesting a rise of 14.1% from the prior-year quarter. Likewise, the consensus estimate for fee-paying AUM is pegged at $636.4 billion, indicating a 14.4% year-over-year increase.
The Zacks Consensus Estimate for management fees (segment revenues) for the to-be-reported quarter is pegged at $1.17 billion, suggesting growth of 17.6% from the prior-year quarter. The consensus estimate for fee-related performance revenues (segment revenues) of $98.17 million implies an increase of 82.7% on a year-over-year basis.
Additionally, KKR is expected to have generated profits from deal exits during the to-be-reported quarter. Based on the company's preliminary estimate for the period between March 31 and June 24, 2026, total realized performance income and net realized investment income are expected to exceed $900 million, up from $475 million in the prior-year quarter.
Talking about expenses, KKR is likely to have reported elevated expenses in the to-be-reported quarter, due to higher employee compensation, commission and reinsurance expenses. The company anticipates expenses to remain elevated as placement fees increase with continued fundraising activity.
What Our Model Predicts for KKR
Our proven model does not conclusively predict an earnings beat for KKR this time. The combination of a positive Earnings ESP and Zacks Rank #1 (Strong Buy), 2 (Buy), or 3 (Hold) increases the odds of an earnings beat. That is not the case here, as you can see below.
You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.
Earnings ESP: The Earnings ESP for KKR is -2.53%.
Zacks Rank: The company currently carries a Zacks Rank #3. You can see the complete list of today's Zacks #1 Rank stocks here.
Performance of KKR's Peers
BlackRock’s BLK second-quarter 2026 adjusted earnings of $13.91 per share handily surpassed the Zacks Consensus Estimate of $12.72. The figure reflects a 15% rise from the year-ago quarter.
BLK’s results benefited from a rise in revenues. The AUM balance witnessed robust year-over-year growth, driven by net inflows, to record levels. However, higher expenses created a headwind.
Blackstone’s BX second-quarter 2026 distributable earnings of $1.52 per share outpaced the Zacks Consensus Estimate of $1.33. The figure soared 26% from the prior-year quarter.
BX’s results benefited from a rise in AUM and higher revenues. An increase in GAAP expenses was the undermining factor.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

KKR & Co.'s Q2 Earnings Coming Up: Here's What You Should Know

Key Points
SpaceX values its total addressable market at $28.5 billion, and it attributes most of that sum to AI products and services.
Wall Street says SpaceX's sales will grow at 102% annually through 2028; that makes the current valuation of 78 times sales tolerable.
Among the 10 largest U.S. IPOs in the past decade, the average stock returned 24% during its first year on the public market.
Elon Musk's Space Exploration Technologies (NASDAQ: SPCX) completed its historic initial public offering (IPO) on Friday, June 12. The rocket and satellite company raised a record $75 billion at an unprecedented market value of $1.7 trillion.
SpaceX stock is down 42% from its post-IPO high, partly because some insiders will be allowed to sell shares two days after the company reports second-quarter financial results on August 4. But a rich valuation, debt issuance, and launch delays have also factored into the decline.
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Nevertheless, Wall Street is overwhelmingly bullish. Among 37 analysts, SpaceX has a median target of $225 per share, implying 96% upside from its current share price of $115. My prediction is a little more conservative: I think SpaceX will trade at $167 per share by June 2027.
Here's why.
SpaceX is chasing a $26.5 trillion opportunity in AI products and services
SpaceX is a vertically integrated business that designs hardware and software across three operating segments: space, connectivity, and artificial intelligence. The company has a key competitive advantage in reusable rockets, which dramatically reduce launch costs. That economic moat has helped SpaceX build Starlink, the largest satellite internet service in the world.
SpaceX also runs two Colossus data centers, which collectively form the largest AI training cluster on the planet. Using its low-cost launch capabilities, massive satellite network, and AI expertise, the company plans to provide AI cloud services from orbital (space-based) data centers. Solar power and cold temperatures could solve the energy and cooling problems that limit terrestrial data centers.
"We believe we are the only company with a commercially viable path to building orbital AI compute at scale," SpaceX explains its SEC Form S-1. The company values its addressable market at $28.5 billion, and the vast majority of that sum ($26.5 trillion) is attributed to AI products and services.
Wall Street says SpaceX's revenue will grow at 102% annually through 2028
In the first quarter, SpaceX reported a net loss of $4.2 billion, but the company has plenty of cash on its balance sheet after raising $75 billion from its initial public offering (IPO) and AI revenue is likely to grow quickly in the quarters ahead. Anthropic and Alphabet have agreed to rent cloud capacity from SpaceX for monthly fees of $1.25 billion and $920 million, respectively.
SpaceX brought in revenue of $19.3 billion in the past year, and the company currently has a market value of $1.5 trillion as of July 25. Those figures give SpaceX a price-to-sales ratio of 78. That would be a very rich valuation in almost any circumstance, but it's tolerable here because Wall Street estimates sales will increase at 102% annually through 2028. In other words, SpaceX currently trades at about 11 times projected sales for 2028.
History says SpaceX's stock price will increase 45% by June 2027
SpaceX had a market capitalization of $1.7 trillion at its IPO price of $135 per share. That made it the largest IPO in history by a wide margin. There is no perfect comparison, but we can look at how other large IPOs have performed to make an educated guess about where SpaceX is headed.
The following chart shows the 10 largest U.S. IPOs (as measured by market value at the IPO price) between 2016 and 2025. It also details how those stocks performed during their first year on the market.
IPO Stock
1-Year Return (Post-IPO)
Uber Technologies
(27%)
Airbnb
284%
Rivian Automotive
(58%)
Coinbase Global
(41%)
Venture Global
(60%)
Roblox
(8%)
DoorDash
62%
Rocket Companies
(3%)
Snowflake
170%
Robinhood Markets
(76%)
Average
24%
Among the 10 largest U.S. IPOs in history, the average stock returned 24% during its first year on the public market. If SpaceX follows that trajectory, the stock will trade at $167 per share in June 2027. That implies 45% upside from the current share price of $115.
I think $167 per share is a sensible forecast. It implies a market value of $2.1 trillion, which means the stock would trade at 30 times projected sales for 2027. That is not cheap, but it is much cheaper than the current valuation.
More importantly, even if I am wrong about SpaceX reaching $167 per share by June 2027, I think patient investors who buy the stock today will outperform the S&P 500 over the next five years. I would start with a small position and add shares if the stock continues to move lower.
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Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $377,990!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,269,518!*
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Trevor Jennewine has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Airbnb, Alphabet, BlackRock, DoorDash, Roblox, Rocket Companies, Snowflake, and Uber Technologies. The Motley Fool recommends Coinbase Global. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Prediction: This Will Be SpaceX's Stock Price by June 2027 (Hint: It's Time to Buy)

The IBM board of directors approved a regular quarterly cash dividend of $1.69 per common share, to stockholders of record on August 10, 2026. With payment of the September 10, 2026 dividend, IBM will have paid consecutive quarterly dividends every year since 1916.
The Lockheed Martin board of directors has authorized a third quarter 2026 dividend of $3.45 per share. The dividend is payable on September 25, 2026, to holders of record as of the close of business on September 1, 2026. Lockheed Martin continues to invest in programs that are driving our backlog, while maintaining our historical practice of disciplined and dynamic capital allocation.
SiriusXM today announced that its Board of Directors declared a quarterly cash dividend of $0.27 per share of common stock. This regular quarterly dividend is payable in cash on August 26, 2026, to stockholders of record at the close of business on August 10, 2026.
The Board of Directors of The Cigna Group today declared a cash dividend of $1.56 per share of its common stock, payable on September 23, 2026, to shareholders of record as of the close of business on September 8, 2026.
BlackRock today announced that its Board of Directors has declared a quarterly cash dividend of $5.73 per share of common stock, payable September 22, 2026 to shareholders of record at the close of business on September 8, 2026.
Comcast announced that its Board of Directors declared a quarterly cash dividend of $0.33 a share on the company's common stock. The quarterly dividend is payable on October 28, 2026, to shareholders of record as of the close of business on October 7, 2026.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Daily Dividend Report: IBM,LMT,SIRI,CI,BLK,CMCSA

Ameriprise Financial’s AMP second-quarter 2026 adjusted operating earnings were $11.07 per share, which handily surpassed the Zacks Consensus Estimate of $10.72. The bottom line reflected a rise of 22% from the year-ago quarter.
Results benefited from higher revenues and an improvement in the assets under management (AUM) and assets under administration (AUA) balance to record levels. However, an increase in expenses was a headwind.
After considering significant items, net income (GAAP basis) was $1.11 billion or $11.98 per share, up from $1.06 billion or $10.73 per share in the prior-year quarter.
AMP’s Adjusted Revenues Improve, Expenses Rise
Adjusted operating total net revenues in the reported quarter were $4.90 billion, increasing 13% year over year. The top line beat the Zacks Consensus Estimate of $4.79 billion. Total GAAP net revenues were $4.94 billion, up 13% year over year.
Adjusted operating expenses totaled $3.57 billion, rising 12% year over year.
As of June 30, 2026, total AUM and AUA were a record $1.81 trillion, up 14% year over year.
Update on Ameriprise’s Share Repurchases
The company repurchased 1.7 million shares for $774 million in the reported quarter.
Our Take on AMP
Ameriprise is well-positioned for impressive top-line growth on the back of its robust AUM balance and business-restructuring initiatives. However, elevated expenses (mainly due to technology upgrades) will likely continue to hurt the bottom line.
Ameriprise Financial, Inc. Price, Consensus and EPS Surprise
AMP currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Another Asset Manager
BlackRock’s BLK second-quarter 2026 adjusted earnings of $13.91 per share handily surpassed the Zacks Consensus Estimate of $12.72. The figure reflects a 15% rise from the year-ago quarter.
BLK’s results benefited from a rise in revenues. The AUM balance witnessed robust year-over-year growth, driven by net inflows, to record levels. However, higher expenses created a headwind.
Upcoming Asset Manager Release
Invesco IVZ is scheduled to announce second-quarter 2026 numbers on July 28.
Over the past seven days, the Zacks Consensus Estimate for IVZ’s quarterly earnings has been revised upward to 67 cents. The figure implies a rise of 86.1% from the prior-year quarter’s actual.
Zacks' Research Chief Names "Stock Most Likely to Double"
Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.
This top pick is a little-known satellite-based communications firm. Space is projected to become a trillion dollar industry, and this company's customer base is growing fast. Analysts have forecasted a major revenue breakout in 2025. Of course, all our elite picks aren't winners but this one could far surpass earlier Zacks' Stocks Set to Double like Hims & Hers Health, which shot up +209%.
Free: See Our Top Stock And 4 Runners Up
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

AMP Q2 Earnings Beat as Revenues Grow & AUM, AUA Touch Record Levels

SEI Investments Co.’s SEIC second-quarter 2026 adjusted earnings per share of $1.66 surpassed the Zacks Consensus Estimate of $1.45. The bottom line reflected a rise of 38.3% from the prior-year quarter.
Results were aided by higher revenues and a rise in assets under management (AUM). However, higher expenses acted as a spoilsport.
Results excluded certain non-recurring items. After considering these, net income attributable to SEI Investments was $195.7 million, down 13.8% from the year-ago quarter.
SEIC’s Revenues & AUM Improve, Expenses Rise
Total quarterly revenues were $641.6 million, up 14.7% year over year. The rise was driven by higher asset management, administration and distribution fees, as well as information processing and software servicing fees. The top line beat the Zacks Consensus Estimate of $637.9 million.
Total expenses were $444.6 million, up 8.2% year over year. The increase was due to a rise in almost all cost components, except for consulting, outsourcing and professional fees, facilities, supplies and other costs, and depreciation charges.
Operating income (GAAP) rose 33% year over year to $197 million.
As of June 30, 2026, AUM was $606.7 billion, reflecting a rise of 17.2% from the prior-year quarter. Client assets under administration (AUA) were $1.36 trillion, up 19.7%. Client AUA did not include $14.3 billion related to Funds of Funds assets reported as of June 30, 2026.
SEI Investments’ Share Repurchase Update
In the reported quarter, the company bought back 1.3 million shares for $112.4 million at an average price of $86.92 per share.
Our View on SEIC
SEI Investments’ global presence, diverse product offerings, solid balance sheet, expanding margins and a robust AUM balance are expected to keep supporting the top line. However, elevated operating expenses and continued investment in technology and integration initiatives are concerning.
SEI Investments Company Price, Consensus and EPS Surprise
Currently, SEI Investments carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Another Asset Manager
BlackRock’s BLK second-quarter 2026 adjusted earnings of $13.91 per share handily surpassed the Zacks Consensus Estimate of $12.72. The figure reflects a 15% rise from the year-ago quarter.
BLK’s results benefited from a rise in revenues. The AUM balance witnessed robust year-over-year growth to record levels, driven by net inflows. However, higher expenses created a headwind.
An Upcoming Asset Manager Release
Invesco IVZ is scheduled to announce second-quarter 2026 numbers on July 28.
Over the past seven days, the Zacks Consensus Estimate for IVZ’s quarterly earnings has been revised upward to 67 cents. The figure implies a rise of 86.1% from the prior-year quarter’s actual.
Zacks' Research Chief Names "Stock Most Likely to Double"
Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.
This top pick is a little-known satellite-based communications firm. Space is projected to become a trillion dollar industry, and this company's customer base is growing fast. Analysts have forecasted a major revenue breakout in 2025. Of course, all our elite picks aren't winners but this one could far surpass earlier Zacks' Stocks Set to Double like Hims & Hers Health, which shot up +209%.
Free: See Our Top Stock And 4 Runners Up
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

SEI Investments Beats on Q2 Earnings as Revenues & AUM Rise Y/Y

Key Points
Spot crypto ETFs like iShares Bitcoin Trust ETF and iShares Ethereum Trust ETF hold digital assets directly and trade on traditional exchanges.
Major financial institutions recommend crypto allocations between 1% and 5% of total portfolio value.
Long-term crypto investors should focus on regulatory developments, institutional adoption, and network fundamentals rather than daily price swings.
Let's address the elephant in the room: Bitcoin (CRYPTO: BTC) is down 48% from October's 52-week highs as of July 20.
For longtime crypto observers, this drop feels familiar. Digital assets have suffered several drawdowns of this magnitude, and the decline in 2026 isn't even unusual by historical standards. If anything, it's milder than the first three multiyear crypto winters.
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Each time Bitcoin prices plunge, many obituaries are written. Each time, the asset has eventually recovered to new highs. The rumors of Bitcoin's death have been exaggerated so far. Past performance doesn't guarantee future results, of course, but the pattern does suggest that dramatic price cycles are a predictable feature of this asset class rather than a sign of imminent extinction.
The more interesting development isn't the price action; it's how you can now participate without feeling like you need to minor in cryptography.
The ETF advantage
Two exchange-traded funds (ETFs) stand out for investors seeking straightforward crypto exposure: iShares Bitcoin Trust (NASDAQ: IBIT) for Bitcoin and iShares Ethereum Trust (NASDAQ: ETHA) for Ethereum (CRYPTO: ETH).
These spot-priced crypto ETFs hold the underlying crypto assets directly and trade on traditional stock exchanges. For practical purposes, this means you can buy crypto exposure through the same brokerage account you use for stocks and index funds. No separate crypto exchange account required. No worrying about jargon like "custody solutions" or "seed phrases."
The ETF structure also provides regulatory oversight that direct crypto ownership lacks. These funds operate under SEC disclosure requirements, with institutional-grade custody from established financial players. Most stock investors already know the iShares name, managed by financial colossus BlackRock (NYSE: BLK). For investors whose primary concern has been the operational risk of holding crypto directly, this structure simplifies the process of buying, selling, and owning crypto.
How much is appropriate?
Wall Street has opinions on how much to hold, and they're surprisingly consistent.
J.P. Morgan says 1% is reasonable. Bank of America suggests 1% to 4%. BlackRock recommends 1% to 2%. Morgan Stanley goes with 0% to 4%, depending on your risk appetite. Citigroup lands around 5%, though it suggests splitting exposure between Bitcoin and gold.
Notice what's missing from these recommendations? Nobody's suggesting you convert your entire retirement savings account to Bitcoin. The institutional view treats crypto as a small portfolio addition, not a core holding.
Starting at 1% seems sensible for newcomers. It's enough to learn how crypto volatility actually feels in your portfolio, while avoiding the kind of stress that leads to panic selling at the worst possible moment.
Surviving the crypto news cycle
Crypto headlines can make Wall Street's news look calm and measured by comparison. Let's consider what deserves your attention as a crypto investor.
Regulatory developments carry real weight. SEC actions, Congressional legislation, and international regulatory frameworks can affect how these assets trade and how institutions engage with them. The shift toward clearer regulation has been a meaningful tailwind for institutional adoption.
Institutional adoption trends signal how traditional finance views the digital asset class. When pension funds, endowments, and corporate treasuries add Bitcoin to their holdings, it suggests growing acceptance of crypto as a legitimate portfolio component.
Network fundamentals matter more than daily price movements. For Bitcoin, metrics like hash rate indicate network security. For Ethereum, development activity and transaction volume reflect the health of its ecosystem.
The goal is staying informed without getting swept up in the daily drama. Long-term investors don't need to track every price swing or respond to every bombastic headline. Feel free to skip headlines about celebrity endorsements, meme coins, short-term price targets, and most of the crypto sector's breathless commentary.
The diversification argument
Why bother with crypto at all? The honest answer is that nobody knows with certainty whether these assets will prove valuable over the next decade. But a few observations seem reasonable.
Crypto doesn't move in perfect lockstep with stocks and bonds. This imperfect correlation suggests potential diversification benefits, even if the relationship isn't always predictable.
Bitcoin's supply is mathematically fixed. There will never be more than 21 million coins. Whether scarcity translates to value is debatable, but the scarcity itself is not.
The infrastructure has grown up. Major financial institutions now offer custody services, regulatory frameworks have developed, and the "Wild West" era has given way to something more structured. The space still carries risks that traditional assets don't, but the operational chaos of early crypto has largely faded.
Fitting crypto ETFs into a long-term strategy
If you've read this far and haven't been scared off, the path ahead is straightforward.
Open or use your existing brokerage account.
Decide on a modest allocation, probably in that 1% to 2% range at first.
Then do the hardest part: Sit tight through the inevitable volatility that follows.
Crypto isn't for everyone. The drawdowns are real, the uncertainty is genuine, and the asset class remains young enough that surprises are likely. But if you've been curious about digital assets while remaining skeptical of crypto exchanges and self-custody, ETFs offer a reasonable middle ground. It's your familiar stock brokerage, or even your retirement portfolio, with just a hint of crypto flavor in it.
Just remember that 48% drawdown. In crypto terms, that's practically a normal Tuesday night. If volatility scares you, crypto may not be your best bet in 2026.
Should you buy stock in iShares Bitcoin Trust right now?
Before you buy stock in iShares Bitcoin Trust, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and iShares Bitcoin Trust wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $370,332!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,272,280!*
Now, it’s worth noting Stock Advisor’s total average return is 904% — a market-crushing outperformance compared to 208% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of July 22, 2026.
JPMorgan Chase is an advertising partner of Motley Fool Money. Citigroup is an advertising partner of Motley Fool Money. Bank of America is an advertising partner of Motley Fool Money. Anders Bylund has positions in Bitcoin, Ethereum, iShares Bitcoin Trust, and iShares Ethereum Trust. The Motley Fool has positions in and recommends Bitcoin, BlackRock, Ethereum, JPMorgan Chase, and iShares Bitcoin Trust. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.