Analyst Alexander Blostein of Goldman Sachs maintained a Buy rating on Nasdaq, boosting the price target to $105.00.
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Alexander Blostein has given his Buy rating due to a combination of factors that highlight Nasdaq’s promising growth trajectory. The company’s Solutions businesses are gaining momentum, particularly in the FinTech sector, where demand remains robust and new contracts are contributing positively to revenue. Additionally, the Capital Access Platforms are showing encouraging signs, with a healthier IPO environment and sustained strength in the Index franchise, which are expected to support revenue growth.
Furthermore, Nasdaq’s expenses are being effectively managed, with significant progress in their expense savings program, leading to improved operating leverage. The company’s capital allocation strategy is also favorable, with expectations of consistent share repurchases supported by improved leverage levels and strong free cash flow generation. These factors, along with the potential for further multiple expansion, underpin Blostein’s confidence in Nasdaq’s future performance, prompting an increase in the 12-month price target to $105.
In another report released today, Barclays also maintained a Buy rating on the stock with a $109.00 price target.
Based on the recent corporate insider activity of 87 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of NDAQ in relation to earlier this year.