Nasdaq Inc
NDAQ: XNAS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$57.00 | Gwyfd | Sgmmcbnkg |
Nasdaq Reports Decent Results, but Near-Term Headwinds From Weak Market Conditions Persist
While narrow-moat-rated Nasdaq reported decent third-quarter earnings, cyclical headwinds to some of Nasdaq's recent growth drivers are becoming an impediment to growth. Net revenue rose 6.2% year over year but was once again effectively unchanged sequentially at $890 million. Earnings per share rose 5.4% from last year's quarter to $0.59. As we incorporate these results, we do not expect to materially alter our $56 per share fair value estimate for the firm.