- Piper Sandler increased its price target for Nasdaq to $108, suggesting a potential 17.8% upside from the reported share price.
- Nasdaq’s Financial Technology business showed robust growth, with revenue rising 16% year over year to $539 million and annualized recurring revenue also growing 16%.
- The company is enhancing its offerings with advanced AI, including an agentic AI environment for its Calypso platform and expanded AI tools for fraud detection and anti-money-laundering.
Nasdaq (NASDAQ: NDAQ) operates a leading stock exchange and sells advanced financial technology solutions to financial institutions. Investment firm Piper Sandler recently raised its price target for the company to $108 from $104. At the reported share price of $91.67, this new target implies about 17.8% upside. A price target is an analyst’s estimate, not a guaranteed future price.
Nasdaq’s Financial Technology business gives investors a reason to look beyond traditional exchange trading. In the second quarter of 2026, its revenue rose 16% year over year to $539 million, including 15% organic growth. Organic growth measures gains excluding the effect of acquisitions. Annualized recurring revenue, a measure of ongoing contracted sales, also grew 16%, highlighting steady financial performance.
The company is adding an agentic AI environment to its Calypso platform, a tool used by financial institutions for trading and risk management. Its first feature allows users to ask questions about platform data and documents in everyday language while retaining control of their data. This addresses a significant industry challenge, as nearly half of surveyed firms cite manual work after trades as a key pain point.
Nasdaq Verafin, a financial crime prevention platform, added 47 small and midsize clients and signed six enterprise deals as it expanded AI tools for fraud detection and anti-money-laundering (AML) work. Across its Financial Technology segment, Nasdaq added 58 clients, recorded seven cross-sales, and secured 107 upsells. As highlighted by Zacks Investment Research, increased subscription revenue could make sales steadier and reduce reliance on volatile trading activity.
The higher target from Piper Sandler contrasts with a September 30, 2026, GuruFocus investment analysis that values Nasdaq at $55.89 per share using earnings and $57.30 using free cash flow. Those estimates are well below the reported $91.67 share price. GuruFocus gives Nasdaq a quality score of 90 out of 100 but says its one-out-of-five-star predictability rating makes these estimates less reliable for investment decisions.
