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Nasdaq Inc NDAQ Stock Quote

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Morningstar‘s Stock Analysis NDAQ

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Is it the right time to buy or sell?
Is it the right time to buy or sell?

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Trading Drives Strong Results for the Exchanges While Diverging Valuations Create Opportunity

Michael Miller Equity Analyst

Analyst Note

| Michael Miller |

The North American exchanges have undergone substantial changes in recent years, as regulatory changes, sharp shifts in market conditions, and Intercontinental Exchange and Nasdaq’s continued efforts to reposition their firms as diversified technology companies have kept the group in flux. The exchanges have enjoyed substantial tailwinds over the last couple of years as their core trading and listing operations benefited from cyclical highs in equity market volatility and IPO activity, with futures and options volume far above prepandemic levels. We do expect these tailwinds to fade and project more normalized rates of growth going forward, but, in our view, recent market activity has left shares of some exchanges oversold and we see opportunity for investors in the industry group. 

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Key Statistics NDAQ

Company Profile NDAQ

Business Description

Founded in 1971, Nasdaq is primarily known for its equity exchange, but in addition to its market-services business (about 35% of sales), the company sells and distributes market data as well as offers Nasdaq-branded indexes to asset managers and investors through its information-services segment (30%). Nasdaq's corporate-services business (20%) offers listing services and related investor relations products to publicly traded companies and through the company's market technology group (15%), Nasdaq facilitates the exchange operations of other exchanges throughout the world and provides financial compliance services.

151 W. 42nd Street
New York, NY, 10036
T +1 212 401-8700
Industry Financial Data & Stock Exchanges
Most Recent Earnings Sep 30, 2022
Fiscal Year End Dec 31, 2022
Employees 6,300

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