Barclays Raises Nasdaq (NDAQ) Price Target to $121

By TradeTexts Research Desk Oct 23, 2026, 11:16 AM EDT

Key Points

Barclays reiterated its Overweight rating on Nasdaq, Inc. NDAQ on October 23, 2026, raising its price target to $121.00 from $109.00.
Barclays's $121 price target implies 17.13% upside from Nasdaq, Inc.'s ($NDAQ) current $103.30 share price.
The stock recently traded around $103.30, sitting below the new $121.00 price target set by Barclays.
Other firms have also updated views on the exchange operator, contributing to a consensus buy recommendation among 16 analysts.

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Barclays reiterated its Overweight rating on Nasdaq, Inc. NDAQ on October 23, 2026, while raising its price target from $109.00 to $121.00. The update from Barclays comes as the financial technology and exchange operator trades close to its 52-week highs.

NDAQ Nasdaq, Inc.

$103.30 +7.95% year to date

Daily close · Oct 22, 2026

Analyst rating track record

Barclays vs. the S&P 500

YTD return +1.46% hypothetical

All-time return +1.46% S&P 500 +0.15%

vs. S&P 500 +1.31% ahead of the index

Hypothetical returns from Barclays's disclosed trades, not real profit or advice. How we model this.

Barclays's Call on Nasdaq, Inc.

On October 23, 2026, Barclays maintained its Overweight rating on Nasdaq, Inc. and lifted its price target to $121.00 from $109.00. Earlier on October 7, 2026, Barclays had maintained an Overweight rating with a $109.00 target, prior to moving it higher in this latest research note.

Other Institutional Activity in Nasdaq, Inc.

Other major funds adjusted their holdings leading up to recent reporting periods. Investor AB grew its holdings by 58,381 shares, ending with 58,439,208 shares worth about $6,012,225,558.0. Massachusetts Financial Services Co. reduced its stake by 5,800,355 shares, leaving it with 23,259,539 shares valued at approximately $2,392,941,308.0. Franklin Resources, Inc. trimmed its position by 69,724 shares to finish with 9,104,529 shares worth about $936,673,918.0.

Nasdaq, Inc. Stock Up 7.5%

Nasdaq, Inc. closed at $102.88 on October 23, 2026, and recently traded around $103.30 as of the same date. The stock trades above its 50-day moving average of $94.77 and well above its 200-day moving average of $90.44. Shares sit near the 52-week high of $103.39.

12-month forecast

$NDAQ price target

Nasdaq, Inc. daily closes and this analyst's $121 target. Not advice.

Recent Earnings

Nasdaq, Inc. generated trailing-twelve-month revenue of $5,780,000,000.0 with earnings of $3.66 per share. The company posted a net profit margin of 36.1% alongside a return on equity of 17.3%. Its next earnings report is scheduled for January 28, 2027.

Dividend

The company pays an annual dividend rate of $1.16 per share, which translates to a dividend yield of 1.12%. The payout ratio stands at 32.7%.

Insider Buying and Selling at Nasdaq, Inc.

Insiders have been active in selling shares over recent months. Officer Jeremy Skule sold 1,125 shares on September 10, 2026, at an average price of $94.22 for a total value of $105,998.0. Jeremy Skule later sold 1,125 shares on September 22, 2026, at $95.00 per share for a total of $106,875.0, and another 1,125 shares on October 12, 2026, at $94.13 for $105,896.0. Additionally, on October 20, 2026, Jeremy Skule disposed of 1,125 shares under a planned transaction at $95.00 per share, totaling $106,875.0.

Analysts Set New Price Targets

Wall Street coverage includes several recent adjustments. On October 7, 2026, Barclays maintained an Overweight rating with a $109.00 target. Morgan Stanley maintained an Overweight rating on October 9, 2026, adjusting its target from $120.00 to $118.00. TD Cowen maintained a buy rating on October 12, 2026, with a target of $107.00. Wells Fargo maintained an Equal-Weight rating on October 23, 2026, while raising its target to $111.00. Overall, the stock carries a consensus buy recommendation from 16 analyst opinions with a mean price target of $112.88.

About Nasdaq, Inc.

Nasdaq, Inc. operates technology platforms that serve global capital markets and financial industries. It organizes its business across Capital Access Platforms, Financial Technology, and Market Services segments. Analyst updates like the one from Barclays help investors gauge valuation against the firm's evolving market role.

Bottom Line

Barclays's higher price target sets a bullish tone for the exchange operator as it trades near recent highs. Investors will likely look toward the next earnings report on January 28, 2027, to gauge ongoing revenue growth and profitability.