Nasdaq, Inc. (NDAQ)

In the past six months, Nasdaq reported its quarterly earnings, with Q3 2025 earnings per share (EPS) at $0.88, surpassing estimates, and revenue at $1.32 billion. Q2 2025 had an EPS of $0.78, and Q1 2025 had an EPS of $0.68. Nasdaq announced a quarterly dividend of $0.27 per share. Analyst ratings have also impacted the stock, with UBS Group upgrading Nasdaq to a "buy" rating and increasing its price objective, while Piper Sandler raised its price target and maintained an "overweight" rating. Oppenheimer reaffirmed an "outperform" rating, and TD Cowen maintained a "hold" rating.

Direct information on demand seasonality for Nasdaq, Inc.'s products and services is not explicitly detailed. However, its demand is influenced by broader market trends and economic cycles. Increased market activity and rising valuations generally lead to higher demand for Nasdaq's services. Strengthening demand for equipment finance and a favorable economic environment could positively influence demand, while a seasonal decline in public funds could indirectly affect market liquidity.

Nasdaq, Inc. is a global technology company providing platforms to enhance the integrity, transparency, and liquidity of the global economy. Founded in 1971, it operates in the financial sector as a financial & commodity market operator. Its business is divided into three segments: Capital Access Platforms, which focuses on market data and Nasdaq-branded indices; Financial Technology, which provides capital markets and regulatory technology solutions; and Market Services, which encompasses trading services and brokerage. Nasdaq is also known for its major stock market indices, including the Nasdaq Composite and Nasdaq-100.

Nasdaq has a significant global presence, operating in 38 countries. It has substantial operations in the U.S., Canada, Sweden, Lithuania, India, the Philippines, Australia, and the United Kingdom, which account for over 85% of its total employee population. The United States accounts for 80.3% of Nasdaq's net sales, and the Nasdaq Stock Market is based in New York City.

Nasdaq's brand reputation is generally positive, particularly as a leading global technology company and innovator in capital markets. Nasdaq enhanced its Calypso platform with AI, plans to introduce 24/5 trading on its U.S. exchange, and Nasdaq Ventures invested in Juniper Square. However, there is increasing competitive pressure in its exchange business.

Institutional investors hold approximately 70.09% of Nasdaq, Inc. stock. As of September 2025, 25 institutions reported a stake in Nasdaq, Inc. Major institutional holders include Union Bancaire Privee, UBP SA, Assenagon Asset Management S.A., and Czech National Bank. State Street Corp. holds 3.17% of the company. Individual ownership accounts for 0.6% of the stock, and company insiders own 0.70%.