Bank of America (BofA) has adjusted its price target for Nasdaq Inc. (NDAQ, Financial), reducing it slightly from $105 to $104 while maintaining a Buy rating on the stock. This revision comes as BofA integrates the latest monthly volume and fee rate data into its financial models for the upcoming first-quarter earnings report from the exchange group.
The firm's updated models reflect a minor reduction in earnings estimates for Nasdaq as well as for other major financial exchanges including Intercontinental Exchange (ICE), MarketAxess (MKTX), and Tradeweb (TW). This adjustment is primarily due to lower-than-anticipated fee rates reported for March, which have softened slightly.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 16 analysts, the average target price for Nasdaq Inc (NDAQ, Financial) is $82.19 with a high estimate of $104.00 and a low estimate of $55.00. The average target implies an upside of 16.31% from the current price of $70.66. More detailed estimate data can be found on the Nasdaq Inc (NDAQ) Forecast page.
Based on the consensus recommendation from 19 brokerage firms, Nasdaq Inc's (NDAQ, Financial) average brokerage recommendation is currently 2.1, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Nasdaq Inc (NDAQ, Financial) in one year is $43.91, suggesting a downside of 37.86% from the current price of $70.66. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Nasdaq Inc (NDAQ) Summary page.
