Bond Buyback Plan: Nasdaq has announced an increase in the purchase cap for its 5.350% Senior Notes due 2028 to $83.01 million, reflecting a $3.01 million increase from the previous cap of $80 million, indicating a proactive approach to debt management.
2052 Notes Adjustment: Concurrently, the cap for the 3.950% Senior Notes due 2052 has been raised to $16.99 million, an increase of $6.99 million, aimed at optimizing the capital structure and reducing long-term financial costs.
Early Settlement Arrangement: The company plans to conduct an early settlement on December 17, 2025, where all validly tendered notes will be accepted on a prorated basis, ensuring effective liquidity management.
Market Reaction Expectations: The adjustments to the bond buyback plan may enhance investor confidence, although the market remains cautious about Nasdaq's overall performance, reflecting concerns over future financial health.
NDAQ
$92.93+Infinity%1D
Analyst Views on NDAQ
Wall Street analysts forecast NDAQ stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for NDAQ is 107.91 USD with a low forecast of 96.00 USD and a high forecast of 130.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
12 Analyst Rating
Wall Street analysts forecast NDAQ stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for NDAQ is 107.91 USD with a low forecast of 96.00 USD and a high forecast of 130.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
11 Buy
1 Hold
0 Sell
Strong Buy
Current: 93.570
Low
96.00
Averages
107.91
High
130.00
Current: 93.570
Low
96.00
Averages
107.91
High
130.00
Barclays
Overweight
maintain
$109 -> $114
2025-12-12
New
Reason
Barclays
Price Target
$109 -> $114
2025-12-12
New
maintain
Overweight
Reason
Barclays raised the firm's price target on Nasdaq to $114 from $109 and keeps an Overweight rating on the shares. The firm adjusted targets in the brokers, asset managers and exchanges group as part of its 2026. Market conditions "look constructive" going into 2026, particularly for the alternative asset managers and wealth brokers, the analyst tells investors in a research note. Barclays sees a more mixed outlook for the exchanges and traditional asset managers.
BofA
Buy
maintain
$111 -> $114
2025-12-10
Reason
BofA
Price Target
$111 -> $114
2025-12-10
maintain
Buy
Reason
BofA raised the firm's price target on Nasdaq to $114 from $111 and keeps a Buy rating on the shares. Looking ahead to 2026, the firm now favors the alternative asset managers to online brokers due to what it sees as a better valuation and positioning setup combined with a stronger macro backdrop, the analyst tells investors in a note on the brokers, asset managers and exchanges group.
Morgan Stanley
Equal Weight -> Overweight
upgrade
$97 -> $110
2025-11-20
Reason
Morgan Stanley
Price Target
$97 -> $110
2025-11-20
upgrade
Equal Weight -> Overweight
Reason
Morgan Stanley upgraded Nasdaq to Overweight from Equal Weight with a price target of $110, up from $97. The company's revenue growth is positioned to accelerate across its solutions business as the cap markets recovery ramps and the macro environment "remains supportive" into 2026, the analyst tells investors in a research note. The firm believes Nasdaq's transformation is gaining momentum into "higher quality" revenue streams. This should drive a share re-rating, it contends.
BofA
BofA
Buy
maintain
$105 -> $111
2025-10-23
Reason
BofA
BofA
Price Target
$105 -> $111
2025-10-23
maintain
Buy
Reason
BofA raised the firm's price target on Nasdaq to $111 from $105 and keeps a Buy rating on the shares. Following the recent Q3 beat, the firm raised its Q4, 2026 and 2027 EPS estimates due to positive market beta in indexing, upward revenue revisions to the IPO-related businesses and refined estimates for the Solovis divestiture.
About NDAQ
Nasdaq, Inc. is a global technology company serving corporate clients, investment managers, banks, brokers, and exchange operators as they navigate and interact with the global capital markets and the broader financial system. The Company manages, operates and provides its products and services in three business segments: Capital Access Platforms, Financial Technology and Market Services. Its Capital Access Platforms segment comprises Data & Listing Services, Index and Workflow & Insights. The Financial Technology segment comprises Financial Crime Management Technology, Regulatory Technology and Capital Markets Technology businesses. Its Market Services segment includes its equity derivative trading and clearing, cash equity trading, fixed income, currency and commodities trading. It operates over 19 exchanges across several asset classes, including derivatives, commodities, cash equity, debt, structured products and exchange-traded products (ETPs).
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
