Nasdaq (NDAQ)

• Market cap: $45.4B
• 1 day: 1.26%
• 5 days: -1.25%
• 1 month: -3.19%
• 3 months: 7.13%
• 6 months: 31.31%
• Year to date: 38.70%
• 1 year: 36.94%
• 5 years: 121.93%
• 10 years: 385.66%
• Sector: Financials
• Industry: Security & Commodity Brokers, Dealers, Exchanges & Services

About: Founded in 1971, Nasdaq is primarily known for its equity exchange, but in addition to its market-services business (about 35% of sales), the company sells and distributes market data as well as offers Nasdaq-branded indexes to asset managers and investors through its information-services segment (30%). Nasdaq's corporate-services business (20%) offers listing services and related investor relations products to publicly traded companies and through the company's market technology group (15%), Nasdaq facilitates the exchange operations of other exchanges throughout the world and provides financial compliance services.

Employees: 9,120

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

154% more first-time investments, than exits

New positions opened: 132 | Existing positions closed: 52

44% more funds holding in top 10

Funds holding in top 10: 9 [Q2] → 13 (+4) [Q3]

35% more repeat investments, than reductions

Existing positions increased: 337 | Existing positions reduced: 250

18% more capital invested

Capital invested by funds: $29.1B [Q2] → $34.4B (+$5.35B) [Q3]

11% more funds holding

Funds holding: 745 [Q2] → 825 (+80) [Q3]

0.88% less ownership

Funds ownership: 83.72% [Q2] → 82.84% (-0.88%) [Q3]

10% less call options, than puts

Call options by funds: $76.8M | Put options by funds: $85.1M

Research analyst outlook

13 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $79 0% upside
• Avg. target: $85 8% upside
• High target: $97 23% upside

13 analyst ratings

• positive: 10 77%
• neutral: 3 23%
• negative: 0 0%

Keefe, Bruyette & Woods Kyle Voigt 96% 1-year accuracy 23 / 24 met price target	15% upside $91	Outperform Maintained	20 Dec 2024
Barclays Benjamin Budish 68% 1-year accuracy 71 / 104 met price target	23% upside $97	Overweight Maintained	9 Dec 2024
RBC Capital Ashish Sabadra 65% 1-year accuracy 33 / 51 met price target	12% upside $88	Outperform Reiterated	19 Nov 2024
Deutsche Bank Brian Bedell 70% 1-year accuracy 28 / 40 met price target	1% upside $80	Hold Maintained	11 Nov 2024
Argus Research Kevin Heal 80% 1-year accuracy 8 / 10 met price target	4% upside $82	Buy Maintained	5 Nov 2024