Nasdaq, Inc. (NDAQ) Stock Price & Analysis
Nasdaq, Inc. (NDAQ) closed at USD 103.3 on Thursday, October 22, 2026, up 7.47% on the day. The US market is currently closed (pre-market); this is not a live price.
The prior close was USD 96.12; the Oct 22, 2026 session ranged USD 97.39–103.39 on volume of 7,146,953 shares. Market capitalization is $57.74B, with a 52-week range of USD 76.55–103.39 (NMS). Source: Nexqual, retrieved October 23, 2026 at 09:26 UTC.
Also available as compact Markdown for AI agents: nexqual.com/NDAQ.md
Key facts (NDAQ)
- Last four reported quarters (through Sep 30, 2026): revenue $9.15B, net income $2.08B (22.8% margin), free cash flow $2.26B (SEC filings).
- Valuation: P/E 27.7x (avg 33.1x at the last 3 fiscal year-ends), EV/EBITDA 22.8x, net debt $8.22B.
- 1 of 80 tracked superinvestors hold NDAQ (13F, Q2 2026): 0 new, 1 added, 0 reduced, 0 unchanged.
- Analysts: Buy (mean 2.00 on a 1–5 scale) (18 analysts), mean target USD 112.88 (range 87–133).
- Total return with dividends: 1Y +17.8% vs S&P 500 +14.9%; 5Y +64.6% vs S&P 500 +80.3%.
- Next earnings: 2026-10-22, EPS estimate USD 1.07, revenue estimate $1.54B.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (NDAQ)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $5.89B | $6.23B | $6.06B | $7.40B | $8.26B | $9.15B |
| Gross profit | $3.42B | $3.58B | $3.90B | $4.65B | $5.25B | — |
| Operating income | $1.44B | $1.56B | $1.58B | $1.80B | $2.33B | $2.73B |
| Net income | $1.19B | $1.13B | $1.06B | $1.12B | $1.79B | $2.08B |
| EPS (diluted) | $2.35 | $2.26 | $2.08 | $1.93 | $3.09 | — |
| Free cash flow | $920M | $1.55B | $1.54B | $1.73B | $1.99B | $2.26B |
| Gross margin | 58.1% | 57.5% | 64.2% | 62.8% | 63.5% | — |
| Operating margin | 24.5% | 25.1% | 26.0% | 24.3% | 28.2% | 29.8% |
| Net margin | 20.2% | 18.1% | 17.5% | 15.1% | 21.6% | 22.8% |
| Revenue growth | +4.6% | +5.8% | -2.6% | +22.0% | +11.6% | — |
| Cash + short-term investments | — | $502M | $453M | $592M | $632M | — |
| Total debt | $5.83B | $5.40B | $10.5B | $9.48B | $9.00B | — |
Fiscal years end Dec. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Sep 30, 2026) (NDAQ)
P/E 27.7x · P/S 6.3x · EV/EBITDA 22.8x · EV/Sales 7.2x · P/FCF 25.6x · P/B 4.8x · FCF yield 3.91% · Earnings yield 3.61% · Dividend yield (paid, TTM) 1.13% · Buyback yield (TTM) 2.62% · Net debt $8.22B · EV $66.0B
P/E at fiscal year-ends: Dec 2025 31.4x, Dec 2024 40.1x, Dec 2023 27.9x.
Superinvestors (SEC 13F-HR, Q2 2026) (NDAQ)
1 of 80 tracked investors hold NDAQ. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Bill Nygren | Oakmark Funds | 0.85% | $638M | Added +1.0% |
Analysts (NDAQ)
Consensus Buy (mean 2.00 on a 1–5 scale), 18 analysts; mean target USD 112.88 (low 87, high 133).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-12 | TD Cowen | Target lowered | Buy | $108 → $107 |
| 2026-10-09 | Morgan Stanley | Target lowered | Overweight | $120 → $118 |
| 2026-10-07 | Barclays | Target lowered | Overweight | $111 → $109 |
| 2026-10-02 | Piper Sandler | Target raised | Overweight | $104 → $108 |
| 2026-10-02 | Wells Fargo | Initiated | Equal-Weight | $100 |
| 2026-07-24 | Keefe, Bruyette & Woods | Target raised | Market Perform | $92 → $102 |
| 2026-07-24 | TD Cowen | Target raised | Buy | $105 → $108 |
| 2026-07-24 | Barclays | Target raised | Overweight | $108 → $111 |
| 2026-07-20 | TD Cowen | Target raised | Buy | $101 → $105 |
| 2026-07-10 | Morgan Stanley | Target lowered | Overweight | $116 → $112 |
| 2026-07-09 | Raymond James | Target raised | Outperform | $111 → $113 |
| 2026-07-09 | Barclays | Target lowered | Overweight | $114 → $108 |
Total return (dividends reinvested) (NDAQ)
| 1Y (from 2025-10-23) | 5Y (from 2021-10-18) | |
|---|---|---|
| Total return | +17.8% | +64.6% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +17.9% | +10.4% |
| Volatility (annualized) | 28.6% | 25.0% |
| Max drawdown | -23.4% (Jan 2026→Jun 2026) | -31.0% (Nov 2021→Oct 2023) |
Companies that name NDAQ in their SEC reports
| Relationship to NDAQ | Company | Filing | Sentence |
|---|---|---|---|
| partner | Gemini Space Station, Inc. (GEMI) | 10-K Mar 31, 2026 | “Concurrent with the IPO, Nasdaq, Inc. entered into an agreement with us to purchase 1,904,761 shares of our Class A common stock in a private placement at $26.25 per share (the "Concurrent Private Placement").” |
NDAQ analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Dec 2026) | $1.07 | $1.08 | -0.9% | $1.54B | 15 |
| Next quarter (ends Mar 2027) | $1.12 | $1.10 | +1.1% | $1.55B | 13 |
| Current fiscal year (ends Dec 2026) | $4.14 | $4.14 | -0.0% | $5.92B | 15 |
| Next fiscal year (ends Dec 2027) | $4.72 | $4.65 | +1.5% | $6.44B | 16 |
NDAQ options: expected move
| Expiration | Days | ATM implied volatility | Expected move |
|---|---|---|---|
| Oct 30, 2026 | 7 | 26.3% | ±3.1% |
| Nov 6, 2026 | 14 | 27.8% | ±4.4% |
| Nov 13, 2026 | 21 | 27.9% | ±5.3% |
| Nov 20, 2026 | 28 | 28.1% | ±6.3% |
| Nov 27, 2026 | 35 | 26.8% | ±6.8% |
| Dec 4, 2026 | 42 | 24.8% | ±6.9% |
| Dec 18, 2026 | 56 | 27.3% | ±8.7% |
| Jan 15, 2027 | 84 | 26.1% | ±10.2% |
30-day implied volatility 26.6% vs 29% realized over the last 30 trading days. Put/call ratio (volume) 0.67. Cboe delayed quotes (15 min). Expected move = at-the-money straddle.
Key Statistics (as of October 23, 2026 at 09:26 UTC)
| Price | USD 103.3 |
|---|---|
| Change | ▲ 7.47% (up) |
| Previous Close | USD 96.12 |
| Open | USD 98.15 |
| Day Range | USD 97.39 – 103.39 |
| 52-Week Range | USD 76.55 – 103.39 |
| Volume | 7,146,953 shares |
| Market Cap | $57.74B |
| Exchange | NMS |
Technical Analysis (NDAQ)
Nexqual's technical model rates NDAQ "BUY" based on 5 bullish and 3 bearish signals across 127 daily candles, as of October 23, 2026 at 09:26 UTC.
| Overall Signal | BUY |
|---|---|
| RSI (14) | 71.88 (overbought) |
| vs SMA50 | Above (USD 94.77) |
| MACD | 0.98 (positive) |
Analyst Ratings (NDAQ)
Wall Street analysts rate NDAQ "Buy" based on 18 analysts, with a mean price target of USD 112.88 (range USD 87–133), per Nexqual as of October 23, 2026 at 09:26 UTC.
| Consensus Rating | Buy |
|---|---|
| Analyst Count | 18 |
| Mean Target | USD 112.88 |
| High Target | USD 133 |
| Low Target | USD 87 |
| Buy / Hold / Sell | 14 / 3 / 1 |
Earnings (NDAQ)
| Next Earnings Date | 2026-10-22 |
|---|---|
| EPS Estimate | USD 1.07 |
| Revenue Estimate | $1.54B |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-09-30 | USD 1.04 vs est 1.02 ▲ beat |
| 2026-06-30 | USD 1.07 vs est 0.98 ▲ beat |
| 2026-03-31 | USD 0.96 vs est 0.93 ▲ beat |
| 2025-12-31 | USD 0.96 vs est 0.92 ▲ beat |
Source: Nexqual, October 23, 2026 at 09:26 UTC.
Financials & Fundamentals (NDAQ)
| Total Revenue | $5.78B |
|---|---|
| Revenue Growth (latest quarter, YoY) | +12.60% |
| Gross Margin | +100.00% |
| Operating Margin | +50.57% |
| Profit Margin | +36.06% |
| ROE | +17.33% |
| Debt / Equity | 0.77 |
| Current Ratio | 1 |
| Total Cash | $516.00M |
| Total Debt | $9.22B |
| Free Cash Flow (last four quarters to Sep 2026, SEC 10-Q / 10-K) | $2.26B (24.7% of revenue) |
Source: Nexqual, October 23, 2026 at 09:26 UTC.
Financial Health Score (NDAQ)
Nexqual rates Nasdaq, Inc.'s overall financial health "Solid" across five dimensions, as of October 23, 2026 at 09:26 UTC.
| Growth | Solid — Revenue +12% YoY (annual) |
|---|---|
| Profitability | Strong — Operating margin 51% |
| Balance Sheet | Mixed — $516M cash and investments vs $8.74B debt (Sep 2026, SEC) |
| Cash Flow | Strong — FCF $2.26B (last 4 quarters to Sep 2026, SEC), 25% margin |
| Efficiency | Solid — ROE 17%, ROA 6.1% |
Ownership (NDAQ)
| Insider Ownership | +11.00% |
|---|---|
| Institutional Ownership | +87.31% |
| Shares Outstanding | 558.98M |
| Float | 496.46M |
| Short % of Float | +2.02% |
Source: Nexqual, October 23, 2026 at 09:26 UTC.
Leadership (NDAQ)
Nasdaq, Inc. is led by Adena T. Friedman, CEO & Chairman, per Nexqual as of October 23, 2026 at 09:26 UTC.
| CEO & Chairman | Adena T. Friedman |
|---|---|
| President | P. C. Nelson Griggs |
| President | Tal Cohen |
| Executive VP & CFO | Sarah M. Youngwood |
| Executive VP, Chief Information Officer & CTO | Bradley J. Peterson |
Major Backers & Investors (NDAQ)
Notable institutional backers of Nasdaq, Inc. include Investor AB, Wellington Management, Massachusetts Financial Services Co., according to Nexqual as of October 23, 2026 at 09:26 UTC.
Active Investors
| Investor | Stake |
|---|---|
| Investor AB | 10.45% |
| Wellington Management | 5.43% |
| Massachusetts Financial Services Co. | 4.16% |
| MFS SERIES TRUST I-MFS Value Fund | 2.04% |
| Morgan Stanley | 2.03% |
| Franklin Resources, Inc. | 1.63% |
Index Funds (Passive)
| Fund | Stake |
|---|---|
| Vanguard Group | 10.26% |
| BlackRock | 6.65% |
| State Street | 3.61% |
| Geode Capital | 2.35% |
Source: Nexqual, October 23, 2026 at 09:26 UTC.
Peers & Related Stocks
| Symbol | Name | Price | Change |
|---|---|---|---|
| COIN | Coinbase Global, Inc. | USD 169.09 | ▼ 4.51% |
| MSCI | MSCI Inc. | USD 620.24 | ▲ 2.61% |
| MCO | Moody's Corporation | USD 491.05 | ▲ 2.08% |
| ICE | Intercontinental Exchange Inc. | USD 163.84 | ▲ 3.9% |
| CBOE | Cboe Global Markets, Inc. | USD 327.72 | ▲ 2.79% |
| CME | CME Group Inc. | USD 305.98 | ▲ 3.45% |
Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 23, 2026 at 09:26 UTC. This page is informational and not investment advice.
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