William Blair analyst Jeff Schmitt has maintained their bullish stance on NDAQ stock, giving a Buy rating today.
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Jeff Schmitt has given his Buy rating due to a combination of factors, primarily driven by Nasdaq’s strong financial performance in the second quarter. The company reported an adjusted EPS of $0.85, surpassing both his estimate and the consensus. This was supported by a 13% increase in total revenues and a 10% rise in solutions revenue, showcasing robust growth across all segments.
Furthermore, Nasdaq’s Financial Technology segment is thriving with effective upselling and cross-selling strategies, and the Capital Access Platforms are seeing high growth from innovative products and improved IPO conditions. Market Services also benefited from heightened volatility, while interest expenses are decreasing due to deleveraging. The expansion of margins through operating leverage and disciplined expense management further strengthens the outlook. Schmitt anticipates this momentum to continue, projecting an EPS growth of over 15% for the year.
In another report released today, Raymond James also reiterated a Buy rating on the stock with a $96.00 price target.