Key Highlights

● Nasdaq closed at $93.65 on 9 October 2026.

● Market data consensus target is $108.92, implying about 16.3% upside.

● The analyst rating consensus is Moderate Buy.

● Morgan Stanley cut its target from $120 to $118.

Nasdaq (NASDAQ:NDAQ), a member of the S&P 500, finished Friday 9 October 2026 at $93.65. Analyst targets sit well above that level, with the consensus implying upside of about 16.3%.

What Is the Latest Analyst Price Target?

Market data shows a consensus 12-month target of $108.92 from 13 analysts, with a range of $100 to $120. Against the $93.65 close, the consensus target suggests potential upside of about 16.3%.

The second data set reports a mean of $109.06 and a median of $108.50 from 18 analysts, with a wider $84 to $132 range. Recent named targets, including Morgan Stanley at $118, Barclays at $109, Piper Sandler at $108, TD Cowen at $105 and Wells Fargo at $100, are consistent with them.

What Are Wall Street Analysts Saying?

Market data shows a Moderate Buy consensus: ten Buy-equivalent ratings, three Holds and no Sells. The second data set is similar, with 14 of 18 at Buy or Strong Buy, three at Hold and one at Sell.

On 9 October 2026 Morgan Stanley kept Overweight but cut its target from $120 to $118. On 7 October Barclays reiterated Overweight and cut its target from $111 to $109. On 2 October Piper Sandler raised its target from $104 to $108, and Wells Fargo initiated at Equal Weight with a $100 target. Raymond James reiterated Outperform on 8 October. In July, Keefe, Bruyette & Woods raised its target to $102 and TD Cowen to $105.

What Could Help the Stock Reach the Price Target?

Continued growth in technology and data revenue could support analysts' estimates.

The same summary mentions a dividend increase to $0.31 per quarter and about $903 million of buybacks in the first half. Busy trading markets, which tend to lift exchange revenue, would also help.

What Could Prevent the Stock Reaching the Target?

Two of the latest target changes, from Morgan Stanley and Barclays, were reductions, suggesting some caution on valuation. Wells Fargo's $100 target sits well below the highest estimates.

Market data says 2026 adjusted expense guidance was raised, which could squeeze margins if revenue slows. Exchange operators are also exposed to market volatility, regulation and competition for listings.

What Should Investors Watch Next?

Investors may wish to follow further target revisions, any confirmation of the expense outlook in filings, and how the share price moves relative to the roughly $109 consensus area.

Nasdaq Versus Its Analyst Targets

Nasdaq closed at $93.65 on 9 October 2026, against a market data consensus target of $108.92. On 9 October 2026 Morgan Stanley kept Overweight but cut its target from $120 to $118.