NDAQ
Nasdaq Inc
NASDAQ: NDAQ · FINANCIAL SERVICES · FINANCIAL DATA & STOCK EXCHANGES
$88.98
+2.94% today
Updated 2026-06-12
Market cap
$49.72B
P/E ratio
26.48
P/S ratio
9.17x
EPS (TTM)
$3.32
Dividend yield
1.16%
52W range
$77 – $101
Volume
3.2M
Nasdaq Inc (NDAQ) Financial Forecast & Price Target 2030
Research-backed projections from analyst consensus, management guidance, and sector analysis.
Research-backed NDAQ price target 2030 projection accounting for share dilution, balance sheet debt, and time value of money.
Current price
$88.98
Today
Analyst consensus
$107.15
+20.42% · 12M
2030 Base
$49.76
-44.08% future
NPV today
$32.20
@ 10% WACC
15 analysts:
13 Buy2 Hold0 Sell
Management guidance
Nasdaq management has not provided specific multi-year revenue targets through 2030 in public guidance. Most recent Q1 2026 earnings showed strong execution with double-digit net revenue growth across all divisions and CEO Adena Friedman emphasizing strategic AI initiatives and tokenized securities expansion, but no explicit revenue guidance beyond FY2027.
Sources: Management guidance, analyst consensus, sector analysishigh confidence
NDAQ · Nasdaq Inc · Revenue & price projection · 2023–2030E
Actual / 2030 target Projected revenue Base case price Bull to bear range
Bear case (2030)
$31.80
NPV today: $20.58
Base case (2030)
$49.76
NPV today: $32.20
Bull case (2030)
$103.64
NPV today: $67.07
WallStSmart.com
NDAQ financial forecast · Research-backed projections
| Metric | 2025 | 2026 (E) | 2027 (E) | 2028 (E) | 2029 (E) | 2030 (E) ★ |
|---|---|---|---|---|---|---|
| Revenue | $8.2B | $6.8B | $7.6B | $8.5B | $9.4B | $10.3B |
| Revenue growth | 11.1% | 16.8% | 11.5% | 11.4% | 10.2% | 9.5% |
| Net margin | — | 36.0% | 36.6% | 37.1% | 37.2% | 37.2% |
| EPS | $3.48 | $4.35 | $4.92 | $5.55 | $6.12 | $6.68 |
| Diluted shares | — | 567M | 568M | 570M | 571M | 572M |
| Net debt | — | $8.01B | $6.80B | $5.46B | $3.98B | $2.36B |
| P/S multiple | — | 3.0x | 3.0x | 3.0x | 3.0x | 3.0x |
| Implied price (base) | — | $22.11 | $28.36 | $35.24 | $42.34 | $49.76 |
★ 2030E is the model's terminal target year. Implied price = (Revenue × P/S − Net debt) ÷ Diluted shares.
Scenario detail · Three drivers, three outcomes
| 2030E driver | Bear | Base | Bull |
|---|---|---|---|
| Revenue | $10.3B | $10.3B | $10.3B |
| P/S multiple | 2.0x | 3.0x | 6.0x |
| Diluted shares | 572M | 572M | 572M |
| Net debt | $2.36B | $2.36B | $2.36B |
| Implied P/E † | 5x | 7x | 16x |
| 2030 Price | $31.80 | $49.76 | $103.64 |
| NPV @ 10% | $20.58 | $32.20 | $67.07 |
† Implied P/E: Multiples remain elevated across all three scenarios because NDAQ is valued primarily on revenue scale during its growth phase, not near-term earnings power. Lower P/E in the bear case reflects multiple compression, but the absolute level stays high since 2030E still represents a hypergrowth-to-mature transition year.
EV to per-share bridge · How we get to $49.76 base case
NDAQ catalysts and risks
Growth catalysts
+ Expansion of tokenized securities trading (SEC approval March 2026 for blockchain-based trading)
+ AI-driven market surveillance and data analytics monetization across trading and market intelligence divisions
+ IPO market recovery and increased listing volumes (SpaceX, Anthropic, and other mega-cap IPOs targeting Nasdaq)
+ Growth in digital asset trading volumes and infrastructure (crypto exchange integration, custody services)
+ Margin expansion from high-margin tech services and analytics businesses
Key risks
- Market downturn reducing IPO volumes and trading volatility (Nasdaq revenue is cyclical to market activity)
- Regulatory uncertainty around crypto and digital assets could slow tokenized securities adoption
- Intense competition from ICE, CME, and CBOE in derivatives and data services
- Technology disruption from decentralized exchanges and blockchain-native trading platforms
- Geopolitical tensions affecting capital markets activity and cross-border trading flows
Methodology · Nasdaq Inc 2030 stock forecast model
Nasdaq Inc 2030 price target is calculated using WallStSmart's research model. Revenue projections are derived from analyst consensus across 15 Wall Street analysts, management guidance from the latest earnings call, and sector growth forecasts. The model is built on five core components:
| 1. Share dilution | Projected from per-ticker schedule of SBC + equity raise activity, compounding year by year (1% cumulative for NDAQ by 2030) |
| 2. Net debt | EV minus net debt yields equity value; debt projected from capex cycle trajectory ($2.36B by 2030) |
| 3. Time value | NPV calculated using 10% WACC (CAPM: beta 0.99) |
| 4. Multiple framework | P/S compresses with scale: bear 2.0x / base 3.0x / bull 6.0x |
| 5. Scenario design | Bull/Base/Bear vary revenue, margin, shares, debt, and multiple independently |
WallStSmart research model · Not financial advice · Past performance is not indicative of future results · Last researched: May 20, 2026.
NDAQ price target FAQ
What is the NDAQ price target for 2030?
WallStSmart's Nasdaq Inc 2030 base case is $49.76 per share, with a bull case of $103.64 and bear case of $31.80. The NPV of the base case discounted to today at 10% WACC is $32.20.
How is the Nasdaq Inc 2030 stock forecast calculated?
The NDAQ 2030 projection multiplies projected revenue by a growth-adjusted P/S multiple to derive enterprise value, subtracts projected net debt to get equity value, then divides by diluted shares outstanding accounting for dilution from stock-based compensation and equity raises.
Why does the NDAQ price target account for dilution?
Nasdaq Inc is projected to grow diluted share count from 566M to 572M by 2030 (a 1% increase) through stock-based compensation and capital raises. Ignoring this would inflate the price target by approximately 1%.
What is the analyst consensus on NDAQ stock?
15 analysts cover NDAQ with an average 12-month price target of $107.15. The 2030 projection extends this framework with longer-horizon assumptions including dilution and time value of money.