Citi Reiterates Neutral Rating on Nasdaq OMX Group Inc. (NDAQ)
Citi analyst Chris Allen reiterated a Neutral rating and $84.00 price target on Nasdaq OMX Group Inc. (NASDAQ: NDAQ).
The analyst comments "NDAQ reported 4Q24 adj. EPS of $0.76 (vs our/consensus est. of $0.76/0.75). Relative to our estimates, net revenue was $1.23B (vs our est. of $1.24B) driven largely by lower Market Services revenue ($268M vs est. of $275M) and lower Financial Technology revenue of $438M (vs est. of $444M) . Adj. opex was slightly below our expectations at $556M (vs est. of $559M), while the effective tax rate came in slightly lower than expected at 24.2% (vs est. of 24.5%). Overall, it was a mixed quarter and we would expect the call to focus on the growth trajectory moving forward, particularly financial technology."
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Shares of Nasdaq OMX Group Inc. closed at $81.19 yesterday.