The stock for the tech-heavy Nasdaq stock index saw a welcome improvement to its Relative Strength (RS) Rating on Monday, with an upgrade from 66 to 73. Nasdaq stock is working on a long cup base, and it has climbed about 30% since last October.
The upgraded 73 Relative Strength Rating shows that Nasdaq stock tops more than 70% of all stocks for price performance over the past year.
CAN SLIM investors look for a little better rating. Market research reveals that the market's biggest winners typically have an RS Rating over 80 as they launch their largest climbs. See if Nasdaq can continue to rebound and clear that threshold.
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Among its other ratings Nasdaq stock has an 84 Composite Rating out of 99. It also owns a strong 88 Earnings Per Share Rating after its EPS growth rate accelerated the last two quarters. Its SMR Rating (sales + profit margins + return on equity) and Accumulation/Distribution Rating are both B. That points to sound fundamentals and fairly heavy buying of its stock by big funds.
Nasdaq Stock Rising Toward Fresh High
Nasdaq stock is working on a cup base with a 69.22 entry. See if the stock can break out in heavy trade. It rose from a 46.88 low on Oct. 3 to trade at about 60.20 Monday afternoon. Its all-time high is 71.65, set in early November 2021.
In terms of top and bottom line numbers, Nasdaq posted rising EPS growth in each of the last two reports. Its growth rate rose from 3% to 4% and then 13% last quarter, to 72 cents per share. Top line growth has also improved over the same time frame, rising from a drop of 8% to -7% and then a 4% gain last quarter to $1.65 billion. Nasdaq is expected to release its next quarterly numbers on or around April 17.
Peers In Financial Services Specialty Group
Nasdaq stock earns the No. 12 rank among its peers in the 63-stock Financial Services-Specialty industry group. Tradeweb Markets, FleetCor Technologies and Bain Cap Specialty are among the top 5 highly rated stocks in the group.
The exclusive Relative Strength Rating from Investor's Business Daily identifies market leadership with a 1 (worst) to 99 (best) score. The grade shows how a stock's price movement over the trailing 52 weeks holds up against all the other stocks in our database.
Please follow James DeTar on X, formerly known as Twitter, @JimDeTar
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