Nasdaq Reports Strong Q4 Earnings Exceeding Expectations
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 3d ago
0mins
Should l Buy NDAQ?
Source: Yahoo Finance
Nasdaq Inc's stock fell 4.46% and hit a 20-day low amid a slight decline in the Nasdaq-100 index, which was down 0.27%.
The company reported strong Q4 2025 results, with adjusted EPS of $0.96 exceeding expectations of $0.92 and net revenue of $1.39 billion surpassing the $1.37 billion consensus. This performance reflects robust growth in its Market Services and Financial Technology segments, despite rising operating expenses.
The strong earnings report indicates Nasdaq's solid financial health and commitment to shareholder returns, which may attract investor interest despite the current market downturn.
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Analyst Views on NDAQ
Wall Street analysts forecast NDAQ stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for NDAQ is 105.89 USD with a low forecast of 96.00 USD and a high forecast of 115.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
11 Analyst Rating
10 Buy
1 Hold
0 Sell
Strong Buy
Current: 85.510
Low
96.00
Averages
105.89
High
115.00
Current: 85.510
Low
96.00
Averages
105.89
High
115.00
About NDAQ
Nasdaq, Inc. is a global technology company serving corporate clients, investment managers, banks, brokers, and exchange operators as they navigate and interact with the global capital markets and the broader financial system. The Company manages, operates and provides its products and services in three business segments: Capital Access Platforms, Financial Technology and Market Services. Its Capital Access Platforms segment comprises Data & Listing Services, Index and Workflow & Insights. The Financial Technology segment comprises Financial Crime Management Technology, Regulatory Technology and Capital Markets Technology businesses. Its Market Services segment includes its equity derivative trading and clearing, cash equity trading, fixed income, currency and commodities trading. It operates over 19 exchanges across several asset classes, including derivatives, commodities, cash equity, debt, structured products and exchange-traded products (ETPs).
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Flexibility to Market Changes: Nasdaq's Eqlipse Trading platform will support multi-asset trading with ultra-low latency and adaptability to changing market conditions, while also providing robust risk management tools to ensure efficient management during volume fluctuations.
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Nasdaq Reports Record Q4 2025 Earnings and Growth Insights
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- AI Integration: The launch of the Agentic AI workforce, starting with the Agentic Sanctions Analyst, has received positive early client feedback, and plans to implement 23/5 trading in the second half of 2026 aim to enhance market competitiveness.
- Accelerated Market Activity: Management anticipates an acceleration in capital markets activity in 2026, supported by recent Fed cuts and a robust pipeline of late-stage private companies, indicating a vibrant new issuance environment.
- Financial Crime Management Partnership: The new partnership with BioCatch aims to enhance financial crime management technology, with a goal to exceed $100 million in run-rate revenue from cross-sells by the end of 2027, underscoring the company's strategic focus on compliance.
See More
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- Adjusted EPS: The company reported an adjusted EPS of 96 cents, exceeding the analyst consensus estimate of 91 cents, reflecting improved profitability and increased market confidence.
- Annual Recurring Revenue: Nasdaq's Annualized Recurring Revenue increased by 10% year-over-year to $3.1 billion, demonstrating robust growth in recurring revenue streams and enhancing future financial stability.
- Shareholder Return Strategy: In Q4 2025, Nasdaq returned $153 million to shareholders through dividends and repurchased $286 million of common stock, highlighting the company's commitment to shareholder value and its strong financial health.
See More
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New AI Model: Anthropic has developed an artificial intelligence model designed to assist with financial analyses and spreadsheet creation.
Investor Concerns: The introduction of this AI model has raised concerns among investors, suggesting potential challenges for financial research companies.
See More
Nasdaq Proposes Accelerated Inclusion of New Large-Cap Stocks to Nasdaq 100 Index
- Rule Change: Nasdaq proposes to accelerate the inclusion of newly listed large-cap stocks into the Nasdaq 100 Index, allowing stocks with market capitalizations ranking within the top 40 to enter quickly, enhancing market liquidity and attractiveness.
- IPO Opportunities: With tech giants like SpaceX preparing for IPOs, the fast entry rule will provide these companies with quicker market access, likely attracting more investor attention.
- Significant ETF Impact: Under the new rules, ETFs based on the Nasdaq 100, such as the Invesco QQQ ETF with $412 billion in assets under management, will automatically include new stocks, further driving capital inflows into the market.
- Implementation Timeline: If the proposal is finalized, it will be implemented after the March 23, 2026 quarterly rebalance, marking Nasdaq's adaptability to changing market dynamics.
See More
Nasdaq Proposes Fast Entry Rule for New Listings
- New Rule Proposal: Nasdaq has proposed a 'Fast Entry' rule that allows newly listed companies with a market cap among the top 40 to be included in the index with at least five trading days' notice, significantly reducing delays for IPOs and exchange transfers.
- Market Impact: The implementation of this rule is expected to enable tech giants like Elon Musk's SpaceX and AI startup Anthropic to be reflected in the index more quickly in 2026, thereby boosting investor confidence in the market.
- Index Composition Adjustment: The new rule allows new listings to temporarily increase the number of constituents without replacing existing index members, which is anticipated to enhance the representativeness of the Nasdaq 100 index.
- Strategic Significance: As tech giants leverage AI to drive valuations into the hundreds of billions, this proposal will help Nasdaq better align with market dynamics, reinforcing its position as the preferred exchange for technology companies.
See More
OSE Partners with Nasdaq to Enhance Derivatives Market Infrastructure
- Technology Modernization: Osaka Exchange (OSE) has selected Nasdaq's Eqlipse Trading and Market Surveillance platforms, marking a significant step in modernizing its derivatives infrastructure, which is expected to enhance Japan's competitiveness and growth opportunities in the global derivatives market.
- Enhanced Trading Environment: OSE's CEO Ryusuke Yokoyama stated that this partnership will significantly improve the foundation of derivatives trading, aiming to provide a safer and more efficient trading environment for market participants by combining Nasdaq's expertise with OSE's experience, thereby enhancing market trust.
- Flexibility to Market Changes: Nasdaq's Eqlipse Trading platform will support multi-asset trading with ultra-low latency and adaptability to changing market conditions, while also providing robust risk management tools to ensure efficient management during volume fluctuations.
- Improved Market Integrity: The integration of Nasdaq's Market Surveillance technology will leverage advanced analytics and AI capabilities to further strengthen OSE's market integrity framework, aiding in the detection and investigation of potential market abuse, thus ensuring fairness and transparency in the market.
See More
Nasdaq Reports Record Q4 2025 Earnings and Growth Insights
- Record Financial Performance: Nasdaq achieved a net revenue of $5.2 billion in 2025, with solutions revenue reaching $4.0 billion and operating income at $2.9 billion, reflecting strong performance across all divisions and exceeding expectations.
- AI Integration: The launch of the Agentic AI workforce, starting with the Agentic Sanctions Analyst, has received positive early client feedback, and plans to implement 23/5 trading in the second half of 2026 aim to enhance market competitiveness.
- Accelerated Market Activity: Management anticipates an acceleration in capital markets activity in 2026, supported by recent Fed cuts and a robust pipeline of late-stage private companies, indicating a vibrant new issuance environment.
- Financial Crime Management Partnership: The new partnership with BioCatch aims to enhance financial crime management technology, with a goal to exceed $100 million in run-rate revenue from cross-sells by the end of 2027, underscoring the company's strategic focus on compliance.
See More
Nasdaq Reports Strong Q4 Results, Exceeds Expectations
- Quarterly Revenue Growth: Nasdaq's Q4 revenue rose 13% year-over-year to $1.39 billion, surpassing analyst expectations of $1.37 billion, indicating strong performance in the financial services sector.
- Adjusted EPS: The company reported an adjusted EPS of 96 cents, exceeding the analyst consensus estimate of 91 cents, reflecting improved profitability and increased market confidence.
- Annual Recurring Revenue: Nasdaq's Annualized Recurring Revenue increased by 10% year-over-year to $3.1 billion, demonstrating robust growth in recurring revenue streams and enhancing future financial stability.
- Shareholder Return Strategy: In Q4 2025, Nasdaq returned $153 million to shareholders through dividends and repurchased $286 million of common stock, highlighting the company's commitment to shareholder value and its strong financial health.
See More
