RBC Capital analyst Ashish Sabadra initiates coverage on $Nasdaq (NDAQ.US)$ with a buy rating, and sets the target price at $88.
According to TipRanks data, the analyst has a success rate of 61.4% and a total average return of 6.3% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Nasdaq (NDAQ.US)$'s main analysts recently are as follows:
The expectation is that the company's offerings will continue to drive double-digit revenue growth, bolstered by solid secular trends, strategic cross-selling and upselling initiatives, and opportunities for deeper market penetration within Financial Technology. Additionally, the resurgence in capital markets activity is anticipated to further support rapid growth for the company's Capital Access Platform.
The analyst is optimistic about the company's strategic shift towards platforms that yield higher multiples and more consistent revenues, particularly in the realms of capital access and financial technology, which now represent a significant portion of net revenues. With a substantial market potential, there are expectations for the management to achieve annual growth objectives while enhancing margins and multiples. However, the analyst expresses caution regarding the stock's intrinsic valuation, considering the robust expansion of absolute earnings multiples and the revaluation of comparable companies.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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