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Nasdaq, Inc. (NDAQ), headquartered in New York, is a global technology company and one of the world's leading stock exchanges, providing marketplace services for global capital markets. With a market cap of over $40.76 billion, Nasdaq delivers cutting-edge trading, listing, and financial technology solutions, empowering market participants with the tools and insights to drive performance and manage risk. The company is set to announce its Q3 earnings before the market opens on Thursday, Oct. 24.
Ahead of the event, analysts expect NDAQ to report a profit of $0.68 per share, down 4.2% from $0.71 in the year-ago quarter. The company has surpassed Wall Street's earnings estimates in three of the last four quarters while missing on another occasion.
Its adjusted earnings of $0.69 per share for the last quarter surpassed the consensus estimate by 7.8%. The beat was driven by solid performance in its Solutions segment.
For fiscal 2024, analysts expect NDAQ to report EPS of $2.75, down 2.5% from $2.82 in fiscal 2023.
NDAQ stock is up 21.9% on a YTD basis, outperforming the broader S&P 500 Index's ($SPX) 19.4% gains and the iShares U.S. Financial Services ETF’s (IYG) 18.7% returns over the same time frame.
On Jul. 25, NDAQ shares closed up more than 7% after the company reported its Q2 results. Its adjusted revenue was $1.16 billion, surpassing Wall Street forecasts of $1.13 billion. The share price performance was driven by growth in its financial technology segment, boosted by the Adenza acquisition and continued leadership in IPOs.
The consensus opinion on NDAQ stock is moderately bullish, with an overall “Moderate Buy” rating. Of 19 analysts covering the stock, eight advise a “Strong Buy” rating, three suggest a “Moderate Buy,” and eight indicate a “Hold.” NDAQ's average analyst price target is $76.72, indicating a potential upside of 8.3% from the current levels.
On the date of publication, Rashmi Kumari did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
