Nasdaq (NDAQ)

• Market cap: $45.9B
• 1 day: 1.32%
• 5 days: 4.68%
• 1 month: 2.48%
• 3 months: 7.50%
• 6 months: 26.72%
• Year to date: 3.15%
• 1 year: 37.33%
• 5 years: 119.30%
• 10 years: 424.43%
• 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)

222% more first-time investments, than exits

New positions opened: 132 | Existing positions closed: 41

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: $29.2B [Q2] → $34.5B (+$5.35B) [Q3]

11% more funds holding

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

0.91% less ownership

Funds ownership: 83.94% [Q2] → 83.02% (-0.91%) [Q3]

10% less call options, than puts

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

Research analyst outlook

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

• Low target: $80 0% upside
• Avg. target: $89 12% upside
• High target: $98 23% upside

10 analyst ratings

• positive: 8 80%
• neutral: 2 20%
• negative: 0 0%

Oppenheimer Owen Lau 77% 1-year accuracy 44 / 57 met price target	11% upside $89	Outperform Maintained	13 Jan 2025
Barclays Benjamin Budish 78% 1-year accuracy 90 / 115 met price target	20% upside $96	Overweight Maintained	13 Jan 2025
Citigroup Christopher Allen 81% 1-year accuracy 17 / 21 met price target	5% upside $84	Neutral Maintained	10 Jan 2025
RBC Capital Ashish Sabadra 69% 1-year accuracy 40 / 58 met price target	19% upside $95	Outperform Reiterated	9 Jan 2025
Raymond James Patrick O'Shaughnessy 83% 1-year accuracy 15 / 18 met price target	5% upside $84	Outperform Maintained	9 Jan 2025