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TickerTalks›$NDAQ
NDNDAQ

Nasdaq, Inc.

Strong FundamentalsStrong FundamentalsRevenue growing 2% YoY at strong marginsStreet coverage with positive forward estimatesConsistent chatter on X (786/wk), no spike
$NDAQ·$52B·Financial - Data & Stock Exchanges·Financial Services
$91.64-2.8%YTD-5.8%1Y+1.9%
Mentions · last 7 days
2026-07-11: 88 posts2026-07-12: 149 posts2026-07-13: 226 posts2026-07-14: 71 posts2026-07-15: 87 posts2026-07-16: 73 posts2026-07-17: 58 posts786-13%
Price updated 1d ago·X counts updated 1d ago
NDNDAQ
$NDAQNasdaq, Inc.
$91.64-2.77%786 posts-13%
AI analysisFundamentalsVoices on X
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AI verdict & sentimentAI analysisGenerated by AI from underlying data

Top X posts

Today's AI verdict on what's driving $NDAQ, plus how loud the X conversation is and which way it's leaning.

AI analysis

TickerTalks’ read on the fundamentals and what’s driving the move.

Proven numbersWinding up for a moveAI verdict · as of 2026-07-18

Trading in a tight range and building pressure — a move looks likely soon, but the direction isn't clear yet.

Nasdaq the exchange is up 2% in 12 months into next-week earnings — $NDAQ chatter is futures-trading commentary.

Nasdaq is the exchange-and-market-data business whose thesis has been about diversifying beyond trading into anti-financial-crime software, regulatory technology, and index licensing. Note that most $NDAQ cashtag chatter is about the Nasdaq-100 futures contract, not this equity.

  • The mechanics defend the multiple — trailing P/E of about 27.4, operating margin above 29.5%, gross margin near 55%, ROIC 7.3%, free-cash-flow yield above 3.8%, and debt-to-equity of 0.78; that is a genuinely quality exchange-plus-software franchise at a reasonable multiple.
  • The tape has been quiet — down about 5.8% year-to-date and up 1.9% over twelve months; that flat signature is what happens when a large-cap exchange consolidates while the broader financial-services cohort rerates, and the flat setup is coiled into a specific earnings event.
  • The Q2 print is on deck — Nasdaq reports next week, and the specific line to watch is anti-financial-crime software growth plus continued index and analytics fee growth; those two lines are what would differentiate NDAQ from a pure trading proxy.
  • The strategic and delisting activity is normal ongoing exchange business — the Tribeca Strategic Acquisition Corp. Class A/Rights separation and the Empro Group anticipated delisting are the kind of routine listing-services touches that come with the operating platform.

This coils into next week's Q2 print — a beat with continued anti-financial-crime software growth and reaffirmed 2026 revenue guide restarts the trend; a soft software growth quarter or a trading revenue surprise interrupts the setup.

What to watch: Next week's Q2 earnings — anti-financial-crime software growth and reaffirmed 2026 revenue guide. A soft software growth quarter or a trading revenue surprise interrupts the setup.

On the calendar: 2026-07 — Q2 earnings (next week)

ticker collision futuresexchange plus softwareanti financial crime leverquality multiple

X sentiment

What the X crowd is saying right now — descriptive, summarised from the day’s posts.

Neutral sentiment16 posts analyzed · as of 2026-07-18

The NDAQ conversation is dominated by technical futures trading using Wyckoff methodology and price action patterns rather than fundamental thesis. Traders describe textbook two-way price action, morning shorts sweeping followed by long reversals paying off, and identify various key levels and PSPs (Wyckoff price structure points). One AI trading agent is running short NDAQ on Hyperliquid. One post frames the recent decline as the worst drop in 22 years. Overall tone is neutral technical trading discussion without strong fundamental directional bias.

Read the AI verdict + X sentiment for $NDAQ

  • One-line verdict on what's driving the move — fundamentals, momentum, both, or an event
  • Next dated catalyst when there is one (earnings, deal closing, activist clock)
  • X crowd read with bullish/bearish call + post volume
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What it does

Plain-English summary of the business — what they sell and how they make money.

Operates US stock exchanges, sells market data subscriptions, and provides financial technology and anti-financial crime software.

Industry overviewAI analysisGenerated by AI from underlying data

Where Financial - Data & Stock Exchanges sits in its cycle right now — and what that implies for $NDAQ.

Financial - Data & Stock Exchanges · Financial Services

No material change from last week — COIN's Kalshi acquisition and Bitcoin ETF expansion validate a new institutional market structure for digital assets.

What this means for $NDAQ

Direct beneficiary — Operates US stock exchanges, sells market data subscriptions, and provides financial technology and anti-financial crime software; core operations sit in the path of the institutional crypto ETF expansion and retail trading volume.

Industry benchmark

6-name peer basket
-8.3%YTD
-14.6%1Y

Fundamentals & catalyst

Profitability, valuation, and the next earnings event — at a glance, with rule-of-thumb signals.

Key ratios

P/E
27.4How much investors are paying per dollar of profit the company actually earned in the last 12 months. Lower means the stock looks cheaper relative to earnings.~15–25 is typical for the S&P 500; high-growth names trade 30+; hyper-growth or speculative can be 100+ or negative.
ROIC
7.3%What percentage return the business earns on every dollar of capital (equity + debt) deployed in operations. The cleanest measure of business quality.Above ~15% is high-quality; consistently above 25% suggests a real moat. Below the company's cost of capital is value-destroying.
Op margin
29.5%Operating profit (after sales, marketing, R&D, and overhead but before interest and taxes) as a percentage of revenue. The clearest view of how well the underlying business is run.Mature business above 20% is healthy; software businesses can run 30%+; commodity / retail businesses operate in single digits.
FCF yield
3.8%Free cash flow (operating cash flow minus capex) divided by the company's market cap. The cash-on-cash return you'd get owning the whole business at today's price.Above ~5% is attractive; below ~2% means you're paying up for growth. Capital-light businesses (software) run higher than capital-heavy ones (utilities).
P/S
6.3Same idea as P/E but per dollar of revenue. Useful for companies that aren't profitable yet, where P/E is meaningless.Under ~2 is cheap; software / SaaS often runs 8–15; well above 20 implies the market is pricing in very high future growth.
ROE
15.9%Net income as a percentage of shareholders' equity. Similar to ROIC but counts only the equity side.Above 20% is strong, but can be inflated by leverage — a heavily indebted company can show high ROE with weak underlying ROIC.
Gross margin
54.8%Revenue minus the direct cost of producing what was sold, as a percentage of revenue. The first read on whether the product is structurally profitable.Software / SaaS is typically 70%+; consumer goods 30–50%; commodity / hardware businesses can be under 20%.
D/E
0.8Total debt divided by shareholders' equity. Measures how much the business runs on borrowed money versus owner capital.Under 1 is conservative; 1–2 is typical for mature businesses; over 2 is leveraged and more sensitive to interest rates.

Past earnings

QuarterReportedActualEstimateSurprise
Q1 2026Apr 23, 2026$0.96$0.93+3.2%
Q4 2025Jan 29, 2026$0.96$0.92+4.1%
Q3 2025Oct 21, 2025$0.88$0.85+3.3%
Q2 2025Jul 24, 2025$0.85$0.81+4.4%
Next earningsThu, Jul 23·consensus EPS $0.98

Quarterly trend

QuarterRevenueYoYGrossOpEPSFCF
Q1 FY26$2.1B+2.2%65.8%30.7%$0.92$629.0M
Q4 FY25$2.1B+2.5%66.9%30.3%$0.91$536.0M
Q3 FY25$2.0B+2.9%44.4%29.9%$0.74$152.0M
Q2 FY25$2.1B+16.6%41.2%27.2%$0.79$687.0M

Forward consensus

5-year forecast · up to 10 analysts
FYRevenueRangeEPSRangeAnalysts
FY26$5.8B$5.7B – $5.9B$4.00$3.23 – $4.2210
FY27$6.3B$6.0B – $6.5B$4.54$3.58 – $4.9010
FY28$6.8B$6.8B – $6.8B$5.19$4.70 – $5.647
FY29$7.3B$7.0B – $7.5B$5.79$5.50 – $5.963
FY30$7.5B$7.2B – $7.6B$6.05$5.74 – $6.236

Setup & momentum

Volume, range, and moving-average position — the technical setup driving short-term moves.

Right now

Vol vs 30dToday's traded share volume divided by the average over the prior 30 trading days. ≥3× signals unusual interest; below 1× is quiet.0.7×Today's traded share volume divided by the average over the prior 30 trading days. ≥3× signals unusual interest; below 1× is quiet.
52w rangeWhere the latest close sits between the 52-week low (0%) and high (100%). Above 80% is extended; below 30% is basing or in a downtrend.60%Where the latest close sits between the 52-week low (0%) and high (100%). Above 80% is extended; below 30% is basing or in a downtrend.
vs 50d MALatest close vs the 50-day simple moving average. Positive = short-term trend is up.+4.4%Latest close vs the 50-day simple moving average. Positive = short-term trend is up.
vs 200d MALatest close vs the 200-day simple moving average. Positive = long-term trend is up.+2.9%Latest close vs the 200-day simple moving average. Positive = long-term trend is up.

Float & profile

FloatHigh float · 444.8M shFree-float shares — the slice of issued stock actually available to trade. Lower buckets squeeze harder on a catalyst.Traded today0.7% of floatToday's volume as a percent of the free float. Above 5% on a single day is unusually high turnover for the available share count.β1.005-year weekly beta vs the S&P 500. Above 1.5 means the stock typically moves more than the index; below 0.8 moves less.

Insider activity

Recent open-market buys and sells by officers and directors — flagged when multiple insiders cluster.

Recent transactions

SellJul 1Smith Bryan EverardEVP, CPO3.0K sh$240KSellJun 11Smith Bryan EverardEVP, CPO3.0K sh$261KBuyJun 11Ab Investor10% owner56.8K sh$4.9MSellMay 18Griggs Pc NelsonPres. Capital Access Platforms5.1K sh$472KSellApr 28Bradley J PetersonEVP, CIO7.7K sh$700KSellApr 27Cohen TalPres. Market Platforms15.5K sh$1.4MSellApr 24Daly Michelle LynnSVP, Controller & PAO1.3K sh$118KSellApr 1Adena T FriedmanCEO113.6K sh$9.7MSellMar 6Adena T FriedmanCEO92.8K sh$8.4MSellMar 2Smith Bryan EverardEVP, CPO6.0K sh$523K
1–10 of 12
+ 48 other (24 awards · 21 inkinds · 2 exempts · 1 gift) in window

See when $NDAQ insiders are putting their own money in

  • Real-time open-market buys and sells from Form 4 filings
  • Cluster-buy detection when multiple insiders pile in at once
  • 30 / 60 / 180-day windows so you can spot building conviction
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SEC filings

Material 8-K, 13D, S-3, and 424B5 events from the last 180 days — the filings that actually move the price.

Recent material filings

8-KAgreement terminatedJul 18-K — Item 1.01: Material agreement · Item 1.02: Agreement terminated · Item 2.03: Material debt obligation
AI summary

Nasdaq entered an Amended and Restated Credit Agreement with Bank of America as administrative agent on June 30, 2026 (Item 1.01) while terminating the prior December 2022 facility (Item 1.02). Routine credit facility renewal replacing the prior revolver.

8-KShareholder voteJun 168-K — Item 5.07: Shareholder vote
AI summary

Nasdaq, Inc. (NDAQ) reported results of its June 10, 2026 Annual Meeting: all twelve director nominees were elected, executive compensation was approved on an advisory basis, and Ernst & Young LLP was ratified as independent auditor for fiscal 2026. Director vote tallies ranged from approximately 342M to 372M shares FOR with ~26.2M broker non-votes. Routine annual meeting outcome — all standard governance items passed with strong majorities, no material opposition.

8-KPress release / Reg FDApr 238-K — Item 2.02: Earnings release · Item 7.01: Press release / Reg FD · Item 8.01: Other event
AI summary

NDAQ reported first quarter of 2026. A copy of the press release is financial results (8-K Item 2.02). Investors should review the full earnings press release and any management guidance for forward outlook.

8-KPress release / Reg FDJan 298-K — Item 2.02: Earnings release · Item 7.01: Press release / Reg FD · Item 8.01: Other event
+ 10 other (3 proxys · 3 13Gs · 1 10-Q · 1 CERT) in window

Recent news

Latest headlines from major outlets, sourced and timestamped — context for whatever just moved.

MaxsMaking Inc. Notified of Anticipated Delisting from The Nasdaq Stock Marketglobenewswire.com·2d agoTribeca Strategic Acquisition Corp. Announces the Separate Trading of its Class A Ordinary Shares and Share Rights, Commencing on July 20, 2026globenewswire.com·2d agoGoogle Stock Falls Amid Delay In AI Model Release, Nasdaq Retreatinvestors.com·3d agoEmpro Group Inc. Notified of Anticipated Delisting from The Nasdaq Stock Marketglobenewswire.com·3d agoNasdaq (NDAQ) Reports Next Week: Wall Street Expects Earnings Growthzacks.com·3d ago

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Voices on X · top 15 · last 7 days

TickerTalks is a research tool, not financial advice. We surface social-attention data; we do not make stock recommendations. Past attention is not predictive of future price movements.

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