Nasdaq OMX Group Inc. (NDAQ) PT Raised to $97 at Piper Sandler

Piper Sandler analyst Patrick Moley raised the price target on Nasdaq OMX Group Inc. (NASDAQ: NDAQ) to $97.00 (from $83.00) while maintaining an Overweight rating.

The analyst commented: "With that in mind, we see more upside in diversified, less volume-sensitive stocks like NDAQ & ICE in 2H25. Below, we highlight NDAQ & ICE as two names we like the most heading into their respective 2Q25 earnings prints.

The stock is in the midst of re-rating, but still trades sub-25x 2026E (cons) EPS despite a ~60% ARR mix and organic revenue growth >10%. We think an improved capital markets backdrop, the re-opening of the IPO window, and abating sales cycle headwinds bode well for further multiple expansion in 2H25."

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