Morgan Stanley Cuts Nasdaq (NDAQ) Price Target to $118

Morgan Stanley has reiterated its Overweight rating on Nasdaq, Inc. with a price target of $118, a 25.60% upside from the current price.

By EarningsIQ Research Desk · Published Oct 16, 2026, 2:07 PM EDT

Reviewed by automated data checks against the source data. How we make and check alerts

Morgan Stanley cut its price target on Nasdaq, Inc. ($NDAQ) to $118 from $120 on October 9, 2026, and rates the stock "Overweight".

Since the rating, $NDAQ is up 0.3% after 1 week and up 0.3% to date (from the $93.65 close on Oct 9, 2026).

NDAQ Nasdaq, Inc.

$93.97 -1.80% year to date

Daily close · Oct 16, 2026

Key Points

On October 9, 2026, Morgan Stanley reiterated its Overweight rating on Nasdaq, Inc. and set a price target of $118, down from $120.
Morgan Stanley's $118 price target implies 25.60% upside from Nasdaq, Inc.'s ($NDAQ) current $93.95 share price.
As of October 16, 2026, Nasdaq shares were recently traded around $93.95, which is about 20.4% below Morgan Stanley's target.
The company is expected to report earnings on October 22, 2026, with trailing revenue of about $5.61 billion and an EPS of $3.43.

Get $NDAQ trade alerts by text

We text you when insiders, Congress or big funds trade $NDAQ. Free.

Not investment advice. EarningsIQ is not a registered investment adviser, and this automated Nasdaq, Inc. alert may contain errors. Disclosures

Morgan Stanley has reiterated its Overweight rating on Nasdaq, Inc. (NDAQ) and set a price target of $118 on October 9, 2026. This is a decrease from their previous target of $120. The recent trading price for Nasdaq shares is around $93.95 as of October 16, 2026, which is about 20.4% below the new target.

Other Institutional Activity in Nasdaq, Inc.

Investor AB holds 58,439,208 shares of Nasdaq, worth about $5.49 billion, and recently increased its stake by 58,381 shares. In contrast, BlackRock Inc. reduced its holdings by 977,184 shares, ending with 37,194,072 shares valued at approximately $3.50 billion. Vanguard Capital Management LLC also trimmed its position slightly, ending with 31,225,614 shares worth about $2.93 billion. Wellington Management Group, LLP cut its stake significantly, selling 5,946,013 shares to hold 30,332,286 shares valued at approximately $2.85 billion.

Nasdaq, Inc. Stock Up 0.5%

Nasdaq shares are currently trading around $93.95, significantly below the recent price target set by Morgan Stanley. The stock is trading well below the target price, which suggests potential for upward movement if the company performs well in its upcoming earnings report.

12-month forecast

$NDAQ price target

Nasdaq, Inc. daily closes and this analyst's $118 target. Not advice.

Recent Earnings

In its most recent earnings report, Nasdaq, Inc. reported trailing revenue of approximately $5.61 billion and an EPS of $3.43. The company also has a net margin of 35.0% and a return on equity of 16.5%. Nasdaq is scheduled to announce its next earnings on October 22, 2026.

Dividend

Nasdaq, Inc. pays an annual dividend of $1.16 per share, with a payout ratio of 32.7%.

Insider Buying and Selling at Nasdaq, Inc.

Recent insider trading includes several sales by Officer Jeremy Skule. On August 10, 2026, he sold 2,250 shares at an average price of $94.75, totaling about $213,188. He also sold 1,125 shares on September 10 and another 1,125 shares on September 22, at prices of $94.22 and $95.00 respectively, for totals of approximately $105,998 and $106,875.

Analysts Set New Price Targets

On October 9, 2026, Morgan Stanley maintained its Overweight rating on Nasdaq with a price target of $118, down from $120. Other analysts have also weighed in, with Piper Sandler maintaining its Overweight rating and raising its target to $108, while Barclays also maintained its Overweight rating but adjusted its target to $109 from $111.

About Nasdaq, Inc.

Nasdaq, Inc. operates as a technology company that provides services to capital markets and other industries globally. It has three main segments: Capital Access Platforms, Financial Technology, and Market Services. The company is based in New York, NY, and led by CEO Adena T. Friedman.

Bottom Line

Investors should watch for Nasdaq's upcoming earnings report on October 22, 2026, as it could impact the stock's performance. With shares currently trading below the analyst target, any positive earnings results could provide a boost to the stock price.