Analyst Eli Abboud of Bank of America Securities reiterated a Buy rating on Nasdaq, with a price target of $111.00.
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Eli Abboud has given his Buy rating due to a combination of factors that highlight Nasdaq’s strong financial performance and growth potential. The company exceeded third-quarter earnings expectations, driven by a resurgence in IPO activity, which significantly boosted revenues across its listings, trading, and fintech segments. The increase in IPOs led to a substantial rise in market services net revenue and enhanced the usage of Nasdaq’s capital markets technology, further supporting its growth trajectory.
Additionally, the strategic partnership with Verafin and the integration of third-party fraud detection services are expected to accelerate revenue growth and improve margins. This partnership model not only opens new revenue streams but also positions Verafin to optimize its margins by leveraging third-party applications. Furthermore, the positive market trends in indexing and the impact of the Solovis divestiture contribute to a favorable outlook, justifying the raised price objective and reinforcing the Buy rating.
According to TipRanks, Abboud is a 3-star analyst with an average return of 6.5% and a 56.25% success rate. Abboud covers the Financial sector, focusing on stocks such as BGC Group, Marketaxess Holdings, and Carlyle Group.
In another report released yesterday, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $103.00 price target.