Nasdaq (NDAQ)

• Market cap: $53.4B
• 1 day: 0.61%
• 5 days: -1.71%
• 1 month: -1.31%
• 3 months: 8.32%
• 6 months: 24.88%
• Year to date: 20.24%
• 1 year: 28.06%
• 5 years: 124.45%
• 10 years: 448.29%
• Sector: Financials
• Industry: Financial Data & Stock Exchanges

About: Founded in 1971, Nasdaq is primarily known for its equity exchange, but in addition to its trading business (about 22.5% of sales), the company sells market and financial data to investors, offers Nasdaq-branded indexes, and lists companies through its capital access segment (42.5%). Nasdaq's newest segment, financial technology, was primarily constructed through the acquisitions of Verafin and Adenza and has expanded the company into capital management, financial crime, and regulatory compliance software (35%) as it seeks to become a diversified technology company.

Employees: 9,492

Fund manager confidence

Based on 2025 Q2 regulatory disclosures by fund managers ($100M+ AUM)

149% more first-time investments, than exits

New positions opened: 167 | Existing positions closed: 67

61% more call options, than puts

Call options by funds: $114M | Put options by funds: $71.2M

40% more repeat investments, than reductions

Existing positions increased: 413 | Existing positions reduced: 296

17% more capital invested

Capital invested by funds: $36.5B [Q1] → $42.7B (+$6.27B) [Q2]

9% more funds holding

Funds holding: 920 [Q1] → 1,007 (+87) [Q2]

8% more funds holding in top 10

Funds holding in top 10: 12 [Q1] → 13 (+1) [Q2]

0.29% less ownership

Funds ownership: 83.54% [Q1] → 83.25% (-0.29%) [Q2]

Research analyst outlook

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

• Low target: $86
• Avg. target: $103
• High target: $115

10 analyst ratings

• positive: 9 90%
• neutral: 1 10%
• negative: 0 0%

Piper Sandler Richard Repetto	$104	Overweight Maintained	4 Aug 2025
Barclays Benjamin Budish	$109	Overweight Maintained	25 Jul 2025
RBC Capital Ashish Sabadra	$108	Outperform Maintained	25 Jul 2025
Keefe, Bruyette & Woods Kyle Voigt	$104	Outperform Maintained	25 Jul 2025
UBS Alex Kramm	$115	Buy Upgraded	25 Jul 2025