Crispr Therapeutics shares tumble after significant earnings miss
Investing.com - Citi has raised its price target on Nasdaq OMX Group Inc. (NASDAQ:NDAQ) to $95.00 from $80.00 while maintaining a Neutral rating on the stock. According to InvestingPro data, the stock is currently trading at a relatively high P/E ratio of 40x, suggesting premium valuations.
The price target increase comes as Nasdaq has been the best performing exchange over the last three months, gaining approximately 33%. Trading near its 52-week high of $90.82, the stock has delivered an impressive 47.5% return over the past year. This performance has been driven by equity market strength and improving market sentiment, which have benefited both the company’s index and trading businesses.
Citi notes that an improving capital markets backdrop provides positive signals for several of Nasdaq’s business segments, though these benefits may materialize over the longer term. With moderating volatility, Nasdaq management has reported a normalization in client conversations, which had previously experienced delays due to market uncertainty.
Despite the improving environment, Nasdaq is still experiencing some delays on the capital raising side from larger corporate clients, according to the research note.
While Citi remains constructive on Nasdaq’s long-term outlook, the firm sees a balanced risk/reward profile at current stock levels and prefers to wait for a more attractive entry point before becoming more positive on the shares.
In other recent news, Nasdaq, Inc. announced the election of all nominated directors to the boards of its six U.S. exchanges, including executives from diverse financial and technology sectors. This development follows the company’s Annual Meeting of Shareholders, where all 12 nominated directors were elected, and other proposals were approved, such as executive compensation and the ratification of Ernst & Young LLP as the independent registered public accounting firm for fiscal year 2025. Additionally, Nasdaq has partnered with Nasdaq Private Market to launch Tape D, a real-time data set for private companies, aimed at enhancing transparency and valuation visibility for pre-IPO companies. This initiative is part of Nasdaq’s broader commitment to improving transparency and access across the investment spectrum.
Goldman Sachs has reiterated its Buy rating on Nasdaq, citing confidence in the company’s growth outlook, particularly in the Financial Technology segment and Index operations. The investment bank expects Nasdaq’s revenues and new wins to accelerate as 2025 concludes, with a focus on organic growth and de-leveraging targets. In another update, trading for Damon Inc. on the Nasdaq Stock Market is set to resume after a suspension that began in late April. The reasons for the trading halt remain undisclosed, but Nasdaq’s standard procedure ensures fair and orderly market operations. These recent developments highlight Nasdaq’s ongoing efforts to enhance its market offerings and governance structures.
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