Nasdaq

NDAQ · NASDAQ

$94.80+$1.60 (+1.72%)TodayMarket closed · Oct 20, 6:29 PM ET

Prev close $93.20

NDAQ analyst rating

BuyConsensus of 10 analysts over the last 12 months. 80% rate it a buy.

Strong buy0
Buy8
Hold2
Underperform0
Sell0

12-month price target · 18 analysts

Average $113.51 (+19.7% upside)

Low: $90.90
Now: $94.80
High: $141.75

Upgrades and downgrades

The latest rating actions, newest first

NDAQ analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
TD Cowen	Oct 12, 2026	Maintains	Buy	$108.00 → $107.00	53%
Morgan Stanley	Oct 9, 2026	Maintains	Overweight	$120.00 → $118.00	54%
Barclays	Oct 7, 2026	Maintains	Overweight	$111.00 → $109.00	57%
Piper Sandler	Oct 2, 2026	Maintains	Overweight	$104.00 → $108.00	68%
Wells Fargo	Oct 2, 2026	Initiates	Equal-Weight	$100.00	63%
Keefe, Bruyette & Woods	Jul 24, 2026	Maintains	Market Perform	$92.00 → $102.00	57%
TD Cowen	Jul 24, 2026	Maintains	Buy	$105.00 → $108.00	53%
Barclays	Jul 24, 2026	Maintains	Overweight	$108.00 → $111.00	57%
TD Cowen	Jul 20, 2026	Maintains	Buy	$101.00 → $105.00	53%
Morgan Stanley	Jul 10, 2026	Maintains	Overweight	$116.00 → $112.00	54%

The case for and against

Updated Apr 3, 2026

Bull case

Nasdaq's stock outlook is bolstered by a notable 14% year-over-year increase in Market Services revenue, fueled by strong performance in the Derivatives and Cash franchises, along with substantial growth in the Financial Crime Management Technology segment, which rose approximately 25%. The Capital Access Platform's revenue growth is anticipated to benefit from a healthier capital markets environment and improvement in macroeconomic stability, with the potential for even greater revenue as new listings and data sales increase further. Additionally, the strategic acquisitions of AxiomSL and Calypso (Adenza) enhance Nasdaq's Financial Technologies portfolio, enabling significant cross-selling opportunities and positioning the company to capitalize on the integration of AI and cloud technologies within its diverse client base.

Bear case

The negative outlook on Nasdaq's stock is primarily driven by increased uncertainty surrounding capital market recovery, particularly related to a projected 10% decline in FY26E EPS which could hinder debt paydown efforts. Key risks include persistently low IPO activity, declining trading volumes, and challenges associated with integrating recent acquisitions, potentially impacting revenue generation. Additionally, external pressures such as the potential introduction of a financial transaction tax in the EU could further exacerbate trading volume declines and amplify market competition.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.