TD Cowen Rates Nasdaq (NDAQ) buy, $98 Price Target

TD Cowen has reiterated its buy rating on Nasdaq, Inc. (NasdaqGS:NDAQ), setting a price target of $98. This reaffirmation came on June 22, 2026, with shares trading at $82.24 on that Monday.

Other Institutional Activity in Nasdaq, Inc.

In recent moves, Investor AB increased its holdings by 200,000 shares, now holding 58,382,426 shares valued at about $4.93 billion, marking a 0.3% increase. BlackRock, Inc. trimmed its position by 1,334,033 shares, holding 38,169,782 shares worth approximately $3.24 billion, a 3.4% decrease. Wellington Management Group LLP also reduced its stake by 1,380,846 shares, ending with 36,278,978 shares valued at around $3.08 billion, a 3.7% decrease. Meanwhile, Vanguard Capital Management LLC opened a new position with 31,237,808 shares valued at roughly $2.65 billion, and Massachusetts Financial Services Co /MA/ boosted its stake by 1,432,672 shares, now holding 29,060,439 shares worth about $2.47 billion, a 5.2% increase.

Nasdaq, Inc. Stock Down 12.7%

Shares of Nasdaq, Inc. traded near $82.24 on Monday. The company has a market cap of approximately $46.51 billion and a P/E ratio of 24.77. It operates with a forward P/E of 18.54 and a beta of 0.974, suggesting moderate volatility. The stock's 52-week range is between $77.09 and $101.79, with a 50-day moving average of $88.91 and a 200-day moving average of $89.66. Nasdaq, Inc. maintains a current ratio of 0.996 and a quick ratio of 0.345, alongside a debt-to-equity ratio of 79.06.

Recent Earnings

Nasdaq, Inc. reported revenue of approximately $5.42 billion, reflecting a 13.7% growth. The company achieved a net margin of 35.28% and a return on equity of 16.2%. Earnings per share stood at $3.32. The next earnings report is expected on July 23, 2026.

Dividend

Nasdaq, Inc. offers an annual dividend rate of $1.12, yielding 1.36%. The dividend payout ratio is 32.53%.

Insider Buying and Selling at Nasdaq, Inc.

Recent insider transactions include Investor AB purchasing 56,782 shares on June 11, 2026, at an average price of $85.98. EVP and CPO Bryan Everard Smith sold 3,000 shares at $86.91 on the same date under a pre-planned program. Other insiders, Johan Torgeby and Essa Kazim, sold 300 and 622 shares respectively, at $86.72 each.

Analysts Set New Price Targets

On June 22, 2026, TD Cowen maintained its buy rating on Nasdaq, Inc. with a $98 price target. Barclays also maintained a buy rating, setting a target of $114 on April 13, 2026. The consensus among analysts is a buy rating, with a mean price target of $106.53 based on 15 opinions.

About Nasdaq, Inc.

Nasdaq, Inc. is a technology company that provides capital markets services and operates through segments like Capital Access Platforms, Financial Technology, and Market Services. The firm, headquartered in New York, serves both U.S. and international markets. It offers a variety of products including market data, indices, and trading platforms, as well as compliance and surveillance solutions. Led by CEO Adena T. Friedman, Nasdaq employs over 9,600 people.

Bottom Line

TD Cowen's reaffirmation of a buy rating with a $98 target price underscores confidence in Nasdaq, Inc.'s prospects. Investors track such ratings for insights into market sentiment and potential stock performance. As always, it's important to remember that analyst ratings are forward-looking opinions and not guarantees of future performance.