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Nasdaq’s latest fair value estimate has been nudged from US$109.57 to US$106.87, a shift of about US$3 per share that signals a more finely tuned view of its long term potential. The change sits alongside Street research that blends optimism about Nasdaq’s platform and AI exposure with more cautious, incremental adjustments to price targets and ratings. As you read on, you will see how these small moves fit into the evolving analyst narrative and what to watch as new updates come through.
Stay updated as the Fair Value for Nasdaq shifts by adding it to your watchlist or portfolio. Alternatively, explore our Community to discover new perspectives on Nasdaq.
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TD Cowen upgraded Nasdaq to Buy from Hold on 26 February, highlighting confidence in the durability of the platform, especially in financial technology, and pointing to AI exposure as a key positive.
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Following Nasdaq’s investor day, TD Cowen cited the recent pullback in the shares as creating what it sees as an attractive entry point, aligning closely with the current fair value estimate around US$106.
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UBS raised its price target to US$120 from US$115 on 12 January and kept a Buy rating, calling Nasdaq a top pick among U.S. exchanges, which signals strong conviction in the company at that valuation level.
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JPMorgan lifted its price target to US$113 from US$111 while maintaining an Overweight rating, reflecting updated modeling that still supports a premium stance on the shares.
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Keefe Bruyette resumed coverage with a Market Perform rating, which suggests a more measured view on upside compared with the firms carrying Buy or Overweight ratings.
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The recent US$1 price target reduction at TD Cowen points to some fine tuning of expectations, showing that even supportive analysts are watching execution and valuation levels closely.
Do your thoughts align with the Bull or Bear Analysts? Perhaps you think there’s more to the story. Head to the Simply Wall St Community to discover more perspectives!
We’ve flagged 1 risk for Nasdaq. See which could impact your investment.
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Nasdaq plans to roll out an equity token design in H1 2027 that lets public companies tokenize shares while keeping existing ownership rights, governance, and regulatory protections aligned with traditional equity markets.
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A new partnership with Payward, parent of Kraken, will use the xStocks framework to build an equities transformation gateway that links regulated equity markets with permissionless blockchain networks where xStocks are available.
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Nasdaq and Talos agreed to connect Talos’ digital asset infrastructure with Nasdaq’s Calypso and Trade Surveillance platforms to support tokenized collateral and a combined on chain and off chain collateral workflow.
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Nasdaq introduced the Nasdaq Private Capital Indexes, based on more than 14,000 institutional private market funds with over US$11.4t in global AUM, and extended its relationship with Juniper Square so that Nasdaq eVestment data feeds directly into Juniper Square’s AI CRM from Summer 2026.
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Fair value reduced from US$109.57 to US$106.87, a change of about US$3 per share.
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Revenue growth assumption adjusted from 8.39% to 8.26%.
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Net profit margin assumption refined from 33.87% to 34.07%.
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Future P/E multiple moved from 33.76x to 32.81x.
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Discount rate used in the model adjusted from 8.18% to 8.13%.
Narratives link a company’s story to a financial forecast and fair value, tying products, markets, and risks to the numbers analysts use in their models. They update as new information comes through so you can see how the story evolves over time.
Head over to the Simply Wall St Community and follow the Narrative on Nasdaq to stay up to date on:
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How product development, new index launches, and international expansion are expected to support Nasdaq’s role as a global technology and markets platform.
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What the AWS collaboration and rollout of Verafin’s AI driven solutions could mean for efficiency, client uptake, and recurring software style revenue.
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Key risks around macro uncertainty, competition from other exchanges and fintech firms, and the execution required on large partnerships and acquisitions such as Adenza.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Companies discussed in this article include NDAQ.
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