Nasdaq (NASDAQ:NDAQ) Given New $120.00 Price Target at The Goldman Sachs Group

Key Points

• Goldman Sachs raised Nasdaq’s price target from $109 to $120 and maintained a “Buy” rating, implying approximately 15.9% upside from the reported share price.
• Analyst sentiment is broadly positive: Nasdaq has a consensus “Moderate Buy” rating and an average price target of $113.53, with JPMorgan also lifting its target to $122.
• Nasdaq’s latest results exceeded expectations, with quarterly EPS of $1.04 versus the $1.02 consensus and revenue growth of 12.6% year over year.

Nasdaq (NASDAQ:NDAQ - Get Free Report) had its price target increased by analysts at The Goldman Sachs Group from $109.00 to $120.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has a "buy" rating on the financial services provider's stock. The Goldman Sachs Group's price objective suggests a potential upside of 15.91% from the stock's current price.

A number of other brokerages have also recently issued reports on NDAQ. Jefferies Financial Group reaffirmed a "hold" rating on shares of Nasdaq in a report on Thursday. JPMorgan Chase & Co. lifted their price target on Nasdaq from $120.00 to $122.00 and gave the stock an "overweight" rating in a report on Friday. Piper Sandler reissued an "overweight" rating and set a $108.00 price target (up from $104.00) on shares of Nasdaq in a research report on Friday, October 2nd. Argus upped their price objective on Nasdaq from $103.00 to $111.00 in a research note on Wednesday, August 5th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Nasdaq in a research note on Friday, October 16th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Nasdaq has an average rating of "Moderate Buy" and a consensus target price of $113.53.

Nasdaq Stock Up 0.2%

NDAQ traded up $0.23 during trading on Friday, reaching $103.53. 2,080,128 shares of the stock were exchanged, compared to its average volume of 3,779,355. The stock has a market cap of $57.87 billion, a P/E ratio of 30.21, a price-to-earnings-growth ratio of 1.73 and a beta of 0.99. Nasdaq has a twelve month low of $76.55 and a twelve month high of $104.21. The stock's 50 day moving average price is $94.75 and its two-hundred day moving average price is $90.97. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.01 and a current ratio of 1.01.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last announced its quarterly earnings results on Thursday, October 22nd. The financial services provider reported $1.04 EPS for the quarter, beating analysts' consensus estimates of $1.02 by $0.02. Nasdaq had a net margin of 22.60% and a return on equity of 18.38%. The firm had revenue of $2.39 billion during the quarter, compared to analysts' expectations of $1.47 billion. During the same quarter last year, the company posted $0.88 earnings per share. The company's revenue for the quarter was up 12.6% compared to the same quarter last year. Equities analysts expect that Nasdaq will post 4.13 EPS for the current year.

Insider Transactions at Nasdaq

In related news, insider Nelson Griggs sold 11,010 shares of Nasdaq stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $96.35, for a total transaction of $1,060,813.50. Following the completion of the sale, the insider owned 205,001 shares of the company's stock, valued at approximately $19,751,846.35. The trade was a 5.10% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Jeremy Skule sold 1,125 shares of Nasdaq stock in a transaction dated Tuesday, October 20th. The stock was sold at an average price of $95.00, for a total transaction of $106,875.00. Following the sale, the executive vice president directly owned 96,561 shares of the company's stock, valued at $9,173,295. The trade was a 1.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 26,520 shares of company stock valued at $2,520,957. 0.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Nasdaq

Institutional investors have recently made changes to their positions in the company. Washington Trust Advisors Inc. lifted its position in Nasdaq by 41.6% during the third quarter. Washington Trust Advisors Inc. now owns 2,069 shares of the financial services provider's stock worth $190,000 after purchasing an additional 608 shares during the period. MBL Wealth LLC bought a new position in Nasdaq in the 3rd quarter valued at about $383,000. Compass Wealth Management LLC bought a new position in Nasdaq in the 3rd quarter valued at about $29,000. Isthmus Partners LLC acquired a new position in shares of Nasdaq in the 3rd quarter valued at approximately $212,000. Finally, Root Financial Partners LLC acquired a new position in shares of Nasdaq in the 3rd quarter valued at approximately $170,000. Institutional investors own 72.47% of the company's stock.

Key Stories Impacting Nasdaq

Here are the key news stories impacting Nasdaq this week:

• Positive Sentiment: Q3 earnings beat expectations: Nasdaq reported adjusted EPS of $1.04, above the $1.02 consensus estimate and up from $0.88 a year earlier. Net revenue rose 13% year over year to approximately $1.5 billion, helping trigger a strong post-earnings reaction. Nasdaq Reports Third Quarter 2026 Results
• Positive Sentiment: Recurring revenue and key growth businesses remained strong: Annualized recurring revenue reached a record $3.4 billion, solutions revenue grew 17% to roughly $1.2 billion, and index revenue increased 39%. The results suggest continued momentum in Nasdaq’s higher-margin technology, fintech and index operations. NDAQ Q3 Earnings Beat Estimates
• Positive Sentiment: Analysts raised their outlooks: JPMorgan increased its price target from $120 to $122 while maintaining an Overweight rating. Wells Fargo raised its target from $100 to $111, although it retained an Equal Weight rating. RBC Capital Markets also issued a Buy rating. JPMorgan Analyst Recommendation
• Positive Sentiment: Options activity signaled bullish interest: Traders purchased 7,716 call options, approximately 320% above the average call volume. While options activity does not guarantee future performance, it indicates increased speculative interest in further gains.
• Neutral Sentiment: Quarterly dividend declared: Nasdaq maintained its $0.31-per-share quarterly dividend, payable December 18 to shareholders of record December 4. The dividend supports shareholder returns but was not reported as an increase. Nasdaq Dividend Announcement
• Negative Sentiment: Insider selling remains a minor risk signal: EVP Jeremy Skule sold 1,125 shares for approximately $106,875, reducing his ownership by 1.15%. The sale is small relative to his remaining stake, limiting its significance compared with the earnings momentum. SEC Insider Transaction Filing

Nasdaq Company Profile

Nasdaq, Inc is a global financial technology and market infrastructure company best known for operating the Nasdaq Stock Market, one of the world's largest electronic stock exchanges. The company provides listing services for public companies and operates trading venues for equities, options and other financial products. Its exchange business serves companies, investors and market participants in the United States, as well as through Nasdaq's Nordic and Baltic market operations.

Beyond its exchange activities, Nasdaq provides market data, analytics, indexes and technology used by exchanges, brokers, banks, asset managers and other financial institutions.

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