NDAQ

NasdaqD

Nasdaq / Financial Services

At close

2026-07-18

Current thesis

Data and surveillance subscription growth accelerates, listings and trading volumes rebound, and buybacks support EPS—driving multiple expansion toward the analyst high and realizing upside to $123.

Posture

Defensive

Lead driver

Sentiment

What changed

2 setup hits (3d) with net bullish as of 2026-07-14.

What can break

Competitive pressure from other exchanges and fintech entrants on pricing and distribution

Momentum

Value

Sentiment

Setup hits (3d)

2 · Net Bullish

AI TargetsBase $109.00 · Bull $123.00 · Bear $82.00

Earnings

2026-07-23 · BMO

Data freshness

Prices

As of 2026-07-18

Fundamentals

As of 2026-07-14 • Vendor: Data Vendor v1

Scores

As of 2026-07-18 • Model: HYBRID_IC_RP

AI Memo

As of 2026-01-30 • Model: RankAlpha Sentiment AI

Investment thesis

As of 2026-07-18

Supporting evidence

What

Grade D · Defensive

Confidence Medium · Net Bullish

Target $108.19

Why

Momentum24 · Δ7d +3.7

Value50 · Δ7d -0.2

Sentiment63 · Δ7d -9.0

So what

Weak posture (Net Bullish). Prioritize risk control and patience.

Lead driver: Sentiment · See AI snapshot

Momentum

26% active weight

Current posture

7d trendImproving

Δ7d

+3.7

Δ21d

-3.7

Value

39% active weight

Current posture

7d trendFlat

Δ7d

-0.2

Δ21d

+0.5

Sentiment

34% active weight

Current posture

7d trendSoftening

Δ7d

-9.0

Δ21d

-20.9

Why this grade

Composite grade D. Momentum 24.3 / Value 50.5 / Sentiment 62.7

Fundamentals (TTM)

As of 2026-07-14

Market Cap

$49.77B

Beta

1.02

Shares Out

565.54M

P/E (TTM)

35.1

P/S (TTM)

6.88

P/FCF (TTM)

37.18

Rev YoY

+2.0%

EPS YoY

+33.3%

Gross Margin

+57.8%

Op Margin

+27.6%

Net Debt

$8.71B

Current Ratio

1.00

As of 2026-07-18 • Updated nightlySource: Internal modelMethodology