In a report released today, Michael Cyprys from Morgan Stanley reiterated a Buy rating on Nasdaq (NDAQ – Research Report), with a price target of $96.00.
Michael Cyprys has given his Buy rating due to a combination of factors that highlight Nasdaq’s strategic transformation and growth potential. The company’s shift towards becoming a financial technology and services provider positions it well to tap into large and rapidly expanding markets. With solutions businesses making up a significant portion of its revenues and a substantial total addressable market, Nasdaq is poised for continued growth.
Furthermore, the company’s focus on leveraging technology, such as AI, to enhance product offerings and operational efficiency is a key driver of its positive outlook. The success of Verafin, Nasdaq’s anti-financial crime management technology, which is experiencing rapid revenue growth, underscores this potential. Additionally, the strategic leadership of CFO Sarah Youngwood, with her extensive experience and focus on operational and strategic directions, further supports the company’s growth trajectory.
Based on the recent corporate insider activity of 71 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.