Raymond James raises Nasdaq stock price target to $100 on strong index franchise

Investing.com - Raymond James raised its price target on Nasdaq OMX Group Inc. (NASDAQ:NDAQ) to $100.00 from $99.00 while maintaining an Outperform rating ahead of the company’s third-quarter 2025 earnings report, due in 8 days. The stock has shown strong momentum, delivering a 25% return over the past six months, according to InvestingPro data.

The investment firm cited Nasdaq’s collection of attractive financial technology software businesses paired with what it described as a "remarkable index franchise" as key factors supporting the price target increase. InvestingPro data shows that 7 analysts have revised their earnings upward for the upcoming period, with analyst targets ranging from $74 to $115.

Raymond James acknowledged that Nasdaq’s legacy exchange revenue streams continue to face challenges but expressed confidence that the company can absorb these headwinds.

The firm believes Nasdaq’s more growth-oriented and diversified business model can sustain a higher valuation multiple going forward.

Raymond James continues to view the risk/reward profile for Nasdaq as favorable, according to its latest analysis of the stock.

In other recent news, Nasdaq OMX Group Inc. is expected to report strong earnings, with RBC Capital reiterating an Outperform rating and a $108.00 price target. The firm anticipates a "solid beat" in earnings, driven by significant growth in Nasdaq’s Index business and sustained momentum in Market Services. Additionally, Nasdaq has temporarily halted trading of Ostin Technology Group’s shares, pending further information from the company. Meanwhile, Pattern, an e-commerce company, is targeting a valuation of up to $2.64 billion in its upcoming Nasdaq IPO, potentially raising $321 million through the sale of 21.4 million shares. In another development, Nasdaq is investing up to $50 million in the crypto exchange Gemini Space Station Inc. through a private placement linked to Gemini’s initial public offering. Furthermore, Citi strategists note that investors are continuing to add risk, despite a slowdown in bullish momentum, with positioning in the S&P 500 and Nasdaq remaining largely unchanged. These developments highlight Nasdaq’s dynamic involvement in various sectors and its strategic investments.

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