Nasdaq, Inc. Website

Nasdaq, Inc.

NasdaqGS-NDAQ

Company Overview

Nasdaq, Inc. operates as a technology company that serves capital markets and other industries worldwide. The Market Technology segment includes anti financial crime technology business, which offers Nasdaq Trade Surveillance, a SaaS solution for brokers and other market participants to assist them in complying with market rules, regulations, and internal market surveillance policies; Nasdaq Automated Investigator, a cloud-deployed anti-money laundering tool; and Verafin, a SaaS technology provider of anti-financial crime management solutions. This segment also handles assets, such as cash equities, equity derivatives, currencies, interest-bearing securities, commodities, energy products, and digital currencies. The Investment Intelligence segment sells and distributes historical and real-time market data; develops and licenses Nasdaq-branded indexes and financial products; and provides investment insights and workflow solutions. The Corporate Platforms segment operates listing platforms; and offers investor relations intelligence and governance solutions. As of December 31, 2021, it had 4,178 companies listed securities on The Nasdaq Stock Market, including 1,632 listings on The Nasdaq Global Select Market; 1,169 on The Nasdaq Global Market; and 1,377 on The Nasdaq Capital Market. The Market Services segment includes equity derivative trading and clearing, cash equity trading, fixed income and commodities trading and clearing, and trade management service businesses. This segment operates various exchanges and other marketplace facilities across various asset classes, which include derivatives, commodities, cash equity, debt, structured products, and exchange traded products; and provides broker, clearing, settlement, and central depository services. The company was formerly known as The NASDAQ OMX Group, Inc. and changed its name to Nasdaq, Inc. in September 2015. Nasdaq, Inc. was founded in 1971 and is headquartered in New York, New York.

  • Name

    Nasdaq, Inc.

  • CEO

    Adena T. Friedman

  • Website

    www.nasdaq.com

  • Sector

    Capital Markets

  • Year Founded

    1971

Company Statistics

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Bulls Say

  • Nasdaq continues to see strong growth from its newer, more data-focused business lines as it continues to invest in its data and technology offerings.

  • Nasdaq’s market data and brand are valuable intangible assets that the company has monetized through its listings, index, and data products.

  • The company’s listing business has outperformed its primary rival in recent years, winning the majority of newly listed securities.

Bears Say

  • Nasdaq continues to face growing competitive pressure at its exchanges, with two new competitors launching in 2020 and another planned in 2026.

  • Nasdaq has seen considerable industry and regulatory pushback on the pricing of its market data products, limiting its ability to grow revenue through price increases.

  • The Adenza acquisition was not cheap. At 18 times expected 2023 revenue, Nasdaq paid a significant premium, creating risk for shareholders if it cannot execute on its planned revenue and expense synergies.

Source: Morningstar Analysis - Oct 21, 2025

What's happening

Nov 13, 2025 - Dec 13, 2025

Nasdaq Inc. Surges Amid Upgrades and Strategic Partnerships

  • Morgan Stanley upgraded Nasdaq from Equalweight to Overweight, setting a price target of $110.
  • A collaboration with SGX Group aims to simplify dual listing processes between the U.S. and Singapore markets.
  • Despite some bearish signals, Nasdaq outperformed both the S&P 500 and Financials sector during this period.

Over the past month, Nasdaq Inc. experienced a notable increase of 5.4% in its stock price, significantly outperforming the S&P 500, which saw a slight decline of 0.2%. This positive performance was driven by several bullish developments that contributed to investor optimism regarding Nasdaq's future prospects.

A key driver of this upward momentum came from Morgan Stanley's upgrade on November 20, moving Nasdaq from Equalweight to Overweight with an increased price target set at $110. This upgrade underscored anticipated cyclical tailwinds expected to bolster revenue growth through 2026 and beyond. The firm’s analysis indicated that innovations in trading practices could serve as catalysts for organic revenue growth within Nasdaq’s Solutions businesses.

Strategic partnerships also played an essential role in enhancing market sentiment around Nasdaq Inc. On November 19, the announcement of a collaboration with SGX Group aimed at creating a Global Listing Board showcased efforts to streamline regulatory processes for dual listings between U.S. and Singapore markets. Such initiatives are likely viewed favorably by investors seeking long-term growth opportunities.

Despite these positive trends, there were bearish signals during this period that warrant attention; notably, an increase in short interest across various securities listed on Nasdaq was reported at the end of November, reflecting growing skepticism among certain investors about future performance amid rising regulatory scrutiny over smaller IPOs facilitated by the exchange since 2023.

Ultimately, it is evident that despite facing challenges along the way—such as insider selling activity and concerns related to market stability—Nasdaq outperformed both its sector peers by approximately 3% during this timeframe while also exceeding S&P performance by approximately 5.6%.

NasdaqGS:NDAQ