IPO Rebound And FinTech Growth Potential Is Helping Nasdaq: Analyst Double Upgrades Stock
IPO Rebound And FinTech Growth Potential Is Helping Nasdaq: Analyst Double Upgrades Stock
Similarly, its FinTech segment comprises 36% of group revenue, with management guiding toward 10%-14% growth over the medium term. Other financial vertical software companies Nasdaq Inc (NASDAQ:NDAQ) stock gained after B of A Securities analyst Craig Siegenthaler double-upgraded the stock from Underperform to Buy and raised its price target from $53 to $90.
納斯達克公司（NASDAQ：NDAQ）股票在B of A證券分析師Craig Siegenthaler將其評級從弱勢股升級爲買入，並將其價格目標從53美元上調至90美元后上漲。
Siegenthaler applied a 25x multiple on his 2026 EPS to derive the price target. The multiple implies a slight discount to Nasdaq's aspirational software and information services peer group but is a premium to its current valuation.
Siegenthaler將2026年每股收益乘以25倍得出價格目標。這個倍數意味着對納斯達克雄心勃勃的軟件和信息服務同行組的略微折扣，但高於其現有估值。
The analyst highlighted that the solutions segment now comprises 78% of revenue. Information services peers like S&P Global Inc (NYSE:SPGI), Moody's Corp (NYSE:MCO), and MSCI Inc (NYSE:MSCI) trade at 30x 2026E earnings and have a fair amount of overlap with Nasdaq's Capital Access Platforms segment, the analyst said.
該分析師指出，解決方案部門現在佔營業收入的78%。類似的信息服務同行，如S&P Global Inc (NYSE: SPGI)，Moody's Corp (NYSE: MCO)和MSCI Inc (NYSE: MSCI)交易的2026年預計收益爲30倍，並且與納斯達克的資本通路平台部分有很大的重疊，該分析師表示。
Similarly, its FinTech segment comprises 36% of group revenue, with management guiding toward 10%-14% growth over the medium term. Other financial vertical software companies MeridianLink, Inc (NYSE:MLNK), nCino, Inc (NASDAQ:NCNO), and Jack Henry & Associates, Inc (NASDAQ:JKHY) with comparable growth profiles are trading around 30x-40x EPS, the analyst noted. Nasdaq, however, trades at just 21x consensus 2026 EPS, he added.
類似地，納斯達克的金融科技部門佔集團營業收入的36％，管理層預計中期增長率爲10％-14％。具有相似增長概況的其他金融垂直軟件公司MeridianLink, Inc (NYSE: MLNK)，nCino, Inc (NASDAQ: NCNO)和Jack Henry & Associates, Inc (NASDAQ: JKHY)的交易倍數約爲30倍-40倍EPS，該分析師指出。然而，納斯達克只以21倍一致預期的2026年每股收益交易。
The analyst noted an upward rerating would stem from a pause in dealmaking, accelerated deleveraging, business streamlining, and an acceleration in revenue growth.
該分析師指出，暫停交易、加速去槓桿化、業務精簡和收入增長加速將導致納斯達克股票的上升評級。
As per Siegenthaler, improving macroeconomic conditions in conjunction with long backlogs should make for an IPO rebound in 2025.
根據Siegenthaler的說法，與長期積壓訂單相結合的宏觀經濟條件的改善將在2025年帶來IPO的復甦。
Specifically, equity market valuations have recovered to 2021 levels while volatility should normalize lower after the U.S. presidential election and Fed rate cuts, the analyst said.
具體來說，該分析師表示，股權市場估值已恢復到2021年的水平，而在美國總統選舉和聯邦儲備減息後，波動性應該會回歸到較低水平。
At the same time, he added that private equity sponsors have a long pipeline of aging portfolio companies, and limited partners are demanding liquidity.
與此同時，他補充說，私募股權贊助商擁有一系列年邁的投資組合公司，並且有限合夥人正在要求獲得流動性。
He said that a comeback in IPOs would directly benefit Nasdaq's listings segment and have positive second-derivative impacts on its trading, corporate services, and financial data businesses.
他說，新股回歸將直接有利於納斯達克的上市業務，並對其交易、企業服務和金融數據業務產生正向的二階效應。
Price Action: NDAQ stock traded higher by 2.22% at $72.97 at the last check on Wednesday.
價格走勢：納斯達克股票週三最後一次交易價格上漲2.22%，至72.97美元。
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譯文內容由第三人軟體翻譯。
