TD Cowen Cuts Nasdaq (NDAQ) Price Target to $107

TD Cowen maintained its Buy rating on Nasdaq, Inc. (NDAQ) on October 12, 2026, adjusting its price target from $108 to $107. The firm continues to express confidence in the company's growth potential despite the target reduction.

Other Institutional Activity in Nasdaq, Inc.

Investor AB holds 58,439,208 shares of Nasdaq, valued at approximately $5.49 billion, after a slight increase of 58,381 shares. BlackRock Inc. reduced its stake by 977,184 shares, leaving it with 37,194,072 shares worth about $3.50 billion. Vanguard Capital Management LLC trimmed its holdings slightly, ending with 31,225,614 shares valued at around $2.93 billion. Wellington Management Group, LLP decreased its position by 5,946,013 shares, now holding 30,332,286 shares worth about $2.85 billion. Vanguard Portfolio Management LLC also cut its stake by 13,052 shares, bringing its total to 26,091,520 shares valued at roughly $2.45 billion.

Nasdaq, Inc. Stock Up 0.5%

Currently, Nasdaq shares are trading at $93.95, which is below the new target of $107. The stock is positioned 12.2% lower than the analyst's revised price target, indicating a potential upside if the stock moves closer to the target. The company's shares have been trading under their previous target, suggesting some market caution.

Recent Earnings

In its most recent earnings report, Nasdaq, Inc. achieved a trailing twelve-month revenue of approximately $5.6 billion, reflecting a year-over-year growth rate of 14.9%. The net margin stood at 35%, and the return on equity was reported at 16.5%. The next earnings report is scheduled for October 22, 2026.

Insider Buying and Selling at Nasdaq, Inc.

Several insiders sold shares recently, including Jeremy Skule, an officer at Nasdaq, who sold 1,125 shares at an average price of $94.13 on October 12, 2026, totaling approximately $105,896. Earlier, he also sold shares on September 10 and September 22, 2026, at prices of $94.22 and $95.00, respectively. P C Nelson Griggs, another officer, sold 3,226 shares at an average price of $96.16 on August 10, 2026, amounting to about $310,212.

Analysts Set New Price Targets

On October 12, 2026, TD Cowen reiterated its Buy rating on Nasdaq, Inc. with a target of $107, down from $108. Earlier, on October 2, Piper Sandler maintained an Overweight rating with a target of $108, while Wells Fargo initiated coverage with an Equal-Weight rating and a target of $100. Barclays and Morgan Stanley also maintained their Overweight ratings with targets of $109 and $118, respectively.

About Nasdaq, Inc.

Nasdaq, Inc. operates as a technology company that serves capital markets and other industries both in the U.S. and internationally. The company operates through segments such as Capital Access Platforms, Financial Technology, and Market Services, playing a crucial role in the financial services sector.

Bottom Line

Investors should keep an eye on Nasdaq's upcoming earnings report on October 22, 2026, and watch for any further updates from analysts. The stock's recent performance and TD Cowen's adjusted target reflect ongoing market conditions and expectations for the company.