IPO Rebound And FinTech Growth Potential Is Helping Nasdaq: Analyst Double Upgrades Stock
Portfolio Pulse from Anusuya Lahiri
Nasdaq Inc (NDAQ) received a double upgrade from B of A Securities, raising its stock rating from Underperform to Buy and increasing the price target from $53 to $90. The analyst cited growth in Nasdaq's solutions and FinTech segments, potential IPO rebound, and improving macroeconomic conditions as key factors.
September 04, 2024 | 5:52 pm
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POSITIVE IMPACT
Nasdaq Inc received a double upgrade from B of A Securities, with a new price target of $90. The analyst sees growth in Nasdaq's solutions and FinTech segments, and potential benefits from an IPO rebound.
The double upgrade and significant increase in price target from $53 to $90 by a reputable analyst is likely to positively impact Nasdaq's stock price in the short term. The analyst's rationale includes growth in key segments and potential IPO rebound, which are strong catalysts for stock appreciation.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
NEUTRAL IMPACT
Jack Henry & Associates, Inc is mentioned as a comparable company in the FinTech sector, trading at a higher multiple compared to Nasdaq.
Jack Henry & Associates is mentioned as a comparable company with a higher trading multiple, but the news primarily focuses on Nasdaq's upgrade. The impact on JKHY is minimal as the mention is more about sector comparison.
CONFIDENCE 80
IMPORTANCE 30
RELEVANCE 20
NEUTRAL IMPACT
Moody’s Corp is mentioned as a peer in the information services sector, trading at a higher multiple compared to Nasdaq.
Moody’s Corp is mentioned as a peer with a higher trading multiple, but the news primarily focuses on Nasdaq's upgrade. The impact on MCO is minimal as the mention is more about sector comparison.
CONFIDENCE 80
IMPORTANCE 30
RELEVANCE 20
NEUTRAL IMPACT
MeridianLink, Inc is mentioned as a comparable company in the FinTech sector, trading at a higher multiple compared to Nasdaq.
MeridianLink is mentioned as a comparable company with a higher trading multiple, but the news primarily focuses on Nasdaq's upgrade. The impact on MLNK is minimal as the mention is more about sector comparison.
CONFIDENCE 80
IMPORTANCE 30
RELEVANCE 20
NEUTRAL IMPACT
MSCI Inc is mentioned as a peer in the information services sector, trading at a higher multiple compared to Nasdaq.
MSCI Inc is mentioned as a peer with a higher trading multiple, but the news primarily focuses on Nasdaq's upgrade. The impact on MSCI is minimal as the mention is more about sector comparison.
CONFIDENCE 80
IMPORTANCE 30
RELEVANCE 20
NEUTRAL IMPACT
nCino, Inc is mentioned as a comparable company in the FinTech sector, trading at a higher multiple compared to Nasdaq.
nCino is mentioned as a comparable company with a higher trading multiple, but the news primarily focuses on Nasdaq's upgrade. The impact on NCNO is minimal as the mention is more about sector comparison.
CONFIDENCE 80
IMPORTANCE 30
RELEVANCE 20
NEUTRAL IMPACT
S&P Global Inc is mentioned as a peer in the information services sector, trading at a higher multiple compared to Nasdaq.
S&P Global is mentioned as a peer with a higher trading multiple, but the news primarily focuses on Nasdaq's upgrade. The impact on SPGI is minimal as the mention is more about sector comparison.
CONFIDENCE 80
IMPORTANCE 30
RELEVANCE 20