New York-based Nasdaq, Inc. (NDAQ) operates as a leading provider of trading, clearing, marketplace technology, securities listing, information and other services. With a market cap of $45.5 billion, Nasdaq operates through Capital Access Platforms, Financial Technology, and Market Services segments.

The company has significantly outperformed the broader market over the past year. NDAQ stock has soared 33.1% over the past 52 weeks and 4.5% on a YTD basis, compared to the S&P 500 Index’s ($SPX) 11.9% gains over the past year and a marginal 64 bps dip in 2025.

Narrowing the focus, Nasdaq has also outpaced the industry-focused iShares U.S. Broker-Dealers & Securities Exchanges ETF’s (IAI) 29.5% surge over the past year, but marginally lagged behind IAI’s 4.7% uptick on a YTD basis.

NDAQ stock prices gained 1.7% following the release of its impressive Q1 results on Apr. 24. The company’s robust business model has continued to enable it to deliver growth even during macro uncertainties. During the quarter, Nasdaq observed solid growth across its divisions, leading to a 10.7% year-over-year growth in net revenues to $1.2 billion, exceeding the Street’s expectations. Furthermore, the company also delivered a staggering 24.3% year-over-year surge in non-GAAP net income to shareholders, reaching $456 million. Meanwhile, its non-GAAP EPS of $0.79 surpassed the analyst’s projections by 2.6%.

For the full fiscal 2025, ending in December, analysts expect Nasdaq to deliver a solid 13.1% year-over-year growth in non-GAAP EPS to $3.19. Moreover, the company has a robust earnings surprise history. It has surpassed the Street’s bottom-line estimates in each of the past four quarters.

The stock holds a consensus “Moderate Buy” rating overall. Of the 20 analysts covering the stock, opinions include 12 “Strong Buys,” three “Moderate Buys,” and five “Holds.”

This configuration is slightly more bullish than a month ago, when only 11 analysts gave “Strong Buy” recommendations.

On Apr. 24, Keefe, Bruyette & Woods analyst Kyle Voigt maintained an “Outperform” rating on NDAQ, while raising the price target from $87 to $88.

As of writing, Nasdaq’s mean price target of $85.67 represents a 6.1% premium to current price levels. While its street-high target of $101 suggests a 25.1% upside potential.