New York-based Nasdaq, Inc. (NDAQ) operates as a technology company that serves capital markets and other industries worldwide. Valued at $49.5 billion by market cap, the company provides trading, clearing, exchange technology, regulatory, securities listing, analysis, investing tools and guides, financial, and information services.
Companies worth $10 billion or more are generally described as “large-cap stocks,” and NDAQ perfectly fits that description, with its market cap exceeding this mark, underscoring its size, influence, and dominance within the financial data & stock exchanges industry. Nasdaq's diversified business model drives robust financial performance, fueled by successful expansions beyond traditional exchange services.
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Despite its notable strength, NDAQ slipped 14% from its 52-week high of $101.79, achieved on Jan. 16. Over the past three months, NDAQ stock has declined marginally, underperforming the State Street Financial Select Sector SPDR ETF’s (XLF) 4.2% gains during the same time frame.
www.barchart.comShares of NDAQ fell 9.9% on a YTD basis but climbed 2.2% over the past 52 weeks, underperforming XLF’s YTD losses of 4.2% and 2.9% returns over the last year.
To confirm the bearish trend, NDAQ has been trading below its 200-day moving average since early February, with slight fluctuations. The stock has been trading below its 50-day moving average recently, with minor fluctuations.
www.barchart.comOn Apr. 23, NDAQ shares closed up marginally after reporting its Q1 results. Its adjusted EPS of $0.96 exceeded Wall Street expectations of $0.93. The company’s net revenue was $1.41 billion, topping Wall Street forecasts of $1.37 billion.
In the competitive arena of financial data & stock exchanges, Intercontinental Exchange, Inc. (ICE) has lagged behind NDAQ, with a 12.6% downtick on a YTD basis and 19.6% losses over the past 52 weeks.
Wall Street analysts are bullish on NDAQ’s prospects. The stock has a consensus “Strong Buy” rating from the 19 analysts covering it, and the mean price target of $109.18 suggests a potential upside of 24.7% from current price levels.
On the date of publication, Neha Panjwani 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.
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