/Nasdaq%20Inc%20NY%20building-by%20hapabapa%20via%20iStock.jpg)
Nasdaq, Inc. (NDAQ), headquartered in New York, is a global technology leader serving capital markets and various other industries. Valued at a market cap of $45.9 billion, the company offers a comprehensive suite of services, including trading, clearing, exchange technology, regulatory support, securities listing, analytics, investment tools, and financial information services.
Shares of this leading global technology company have outperformed the broader market considerably over the past year. NDAQ has gained 47% over this time frame, while the broader S&P 500 Index ($SPX) has rallied nearly 32.3%. In 2024 alone, NDAQ stock is up 34.3%, surpassing SPX’s 24.7% rise on a YTD basis.
Zooming in further, NDAQ lags behind the SPDR S&P Capital Markets ETF’s (KCE) 62.1% returns over the past year and a 40% rise in 2024.
On Nov. 4, NDAQ reported its October trading volumes and its stock rose 1.8% in the following trading session.
On Jul. 25, NDAQ shares closed up more than 7% after reporting its Q2 results. Its adjusted EPS of $0.69 topped Wall Street expectations of $0.64. The company’s revenue was $1.79 billion. Its adjusted revenue was $1.16 billion, surpassing Wall Street forecasts of $1.13 billion.
For the current fiscal year, ending in December, analysts expect NDAQ’s EPS to decline 1.4% to $2.78 on a diluted basis. The company’s earnings surprise history is mixed. It beat the consensus estimate in three of the last four quarters while missing the forecast on another occasion.
Among the 19 analysts covering NDAQ stock, the consensus is a “Moderate Buy.” That’s based on eight “Strong Buy” ratings, four “Moderate Buys,” and seven “Holds.”
This configuration is more bullish than three months ago, with seven analysts suggesting a “Strong Buy.”
On Nov. 11, Deutsche Bank Aktiengesellschaft (DB) analyst Brian Bedell raised Nasdaq’s price target from $78 to $80 while maintaining a “Hold” rating. Following the U.S. elections, the firm adjusted its macro outlook, anticipating a supportive environment for capital markets through at least 2025, with steady equity market gains driven by fiscal stimulus and potentially lighter regulation.
The mean price target of $82.78 represents a 6% premium to NDAQ’s current price levels. The Street-high price target of $93 suggests an upside potential of 19.1%.
- Is This Dividend Stock Undervalued Ahead of Q3 Earnings?
- Up 134% in 2024, is Axon Stock Overvalued?
- Can the Recent Strength in Disney Stock Continue After Earnings?
- Is Applied Materials Stock a Buy After Its Q4 Earnings Beat?
