Nasdaq (NASDAQ:NDAQ) Announces Quarterly Earnings Results

Nasdaq (NASDAQ:NDAQ) announced its quarterly earnings data on Thursday. The financial services provider reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.05, FiscalAI reports. The company had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.37 billion. Nasdaq had a net margin of 19.90% and a return on equity of 16.28%.

Here are the key takeaways from Nasdaq’s conference call:

• Nasdaq reported a milestone year, surpassing $5 billion in annual net revenue and $4 billion in solutions revenue with 12% net revenue growth and ARR of $3.1 billion, meeting the top of its medium‑term outlook.
• Profitability and balance‑sheet metrics strengthened — operating income grew 16%, diluted EPS rose 24%, free cash flow was ~$2.2 billion (109% conversion), gross leverage finished at 2.9x, and Moody’s/S&P upgraded Nasdaq’s debt ratings.
• Financial technology momentum — FinTech revenue up 11% for the year (Q4 +12%), financial crime management up 24% in Q4, all G‑SIBs are now clients, and the new Agentic AI Workforce has seen strong early client adoption and cross‑sell progress.
• Capital‑markets franchises showed strength — record index net inflows of $99 billion (ETP AUM $882 billion), a record $1.2 trillion in listing transfers, a 72% listings win rate, and an active IPO/switch pipeline heading into 2026.
• Strategic initiatives carry upside but depend on approvals and execution — Nasdaq plans 23×5 trading (target H2 2026, subject to SEC approval) and filed a tokenized‑securities approach focused on interoperability and investor protection, with benefits contingent on regulator/infrastructure outcomes.

Nasdaq Price Performance

Shares of NDAQ stock traded up $1.27 during mid-day trading on Thursday, reaching $99.98. The stock had a trading volume of 1,406,941 shares, compared to its average volume of 3,152,530. The company has a market cap of $57.08 billion, a P/E ratio of 35.78, a price-to-earnings-growth ratio of 1.47 and a beta of 1.01. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.72. Nasdaq has a 12-month low of $64.84 and a 12-month high of $101.79. The business has a 50-day simple moving average of $95.33 and a 200 day simple moving average of $92.52.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on NDAQ. Royal Bank Of Canada reissued an “outperform” rating and set a $108.00 price target on shares of Nasdaq in a report on Thursday, October 9th. Raymond James Financial reissued an “outperform” rating and set a $100.00 target price (up from $99.00) on shares of Nasdaq in a research note on Monday, October 13th. TD Cowen restated a “hold” rating on shares of Nasdaq in a research note on Wednesday, January 14th. JPMorgan Chase & Co. upped their price objective on Nasdaq from $111.00 to $113.00 and gave the stock an “overweight” rating in a report on Monday, January 12th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Nasdaq in a report on Friday, January 9th. Fourteen analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Nasdaq presently has a consensus rating of “Moderate Buy” and an average price target of $103.67.

Insider Activity at Nasdaq

In other Nasdaq news, EVP John Zecca sold 4,500 shares of the firm’s stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $100.01, for a total transaction of $450,045.00. Following the completion of the transaction, the executive vice president directly owned 125,674 shares in the company, valued at approximately $12,568,656.74. This trade represents a 3.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Jeremy Skule sold 2,105 shares of Nasdaq stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $85.40, for a total transaction of $179,767.00. Following the transaction, the executive vice president owned 84,974 shares of the company’s stock, valued at approximately $7,256,779.60. The trade was a 2.42% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 306,605 shares of company stock valued at $29,546,812. Insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On Nasdaq

A number of institutional investors and hedge funds have recently bought and sold shares of NDAQ. Geneos Wealth Management Inc. raised its holdings in shares of Nasdaq by 345.5% in the first quarter. Geneos Wealth Management Inc. now owns 597 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 463 shares during the last quarter. Wiser Advisor Group LLC purchased a new stake in Nasdaq during the 3rd quarter worth about $58,000. Osterweis Capital Management Inc. raised its stake in Nasdaq by 19,900.0% in the 2nd quarter. Osterweis Capital Management Inc. now owns 1,000 shares of the financial services provider’s stock valued at $89,000 after purchasing an additional 995 shares during the last quarter. MUFG Securities EMEA plc purchased a new position in Nasdaq in the 2nd quarter valued at about $109,000. Finally, L2 Asset Management LLC acquired a new stake in shares of Nasdaq during the 3rd quarter worth about $201,000. Hedge funds and other institutional investors own 72.47% of the company’s stock.

Nasdaq Company Profile

Nasdaq, Inc is a global financial technology company that operates one of the world’s leading electronic securities exchanges and provides a broad array of products and services to capital markets participants. Its core activities include operating the Nasdaq Stock Market and other trading venues, developing and supplying market technology and matching engines to exchanges and trading firms, licensing market data and indices, and offering clearing, trade execution and post-trade solutions. The company also provides market surveillance, risk management and regulatory technology used by exchanges and regulators.

Founded in 1971 by the National Association of Securities Dealers (NASD) as the first electronic stock market, Nasdaq has evolved into a diversified marketplace and technology provider.