Section 1: Company Overview and Fundamentals

1.1 Company Overview:

Nasdaq, Inc. (NASDAQ: NDAQ) is a global technology company. The Company manages, operates, and provides its products and services in four business segments, including Market Technology, Investment Intelligence, Corporate Platforms, and Market Services.

Kalkine’s Diversified Opportunities Report covers the Company Overview, Key positives & negatives, Investment summary, Key investment metrics, Top 10 shareholding, Business updates and insights into company recent financial results, Key Risks & Outlook, Price performance and technical summary, Target Price, and Recommendation on the stock.

Stock Performance:

• The stock has corrected by 10.32% in the last week as well as by 19.55% in past six months.
• The stock is currently on the lower end of its 52-week range of USD 69.22 and 52-week low price of USD 48.06. Following the release of Q1FY23 results, the stock corrected by around 10.75%. Currently, the price is near an important support levels of USD 45.00-USD 50.00, and the price is expected to sustain these levels, therefore, there is an expectations of an upward movement.
• The price is currently trading below its long-term (200-day) SMA and its short-term (50-day) SMA , with the current RSI of 34.05.

1.2 The Key Positives, Negatives, and Investment summary

1.3 Key Metrics:

Nasdaq Inc has demonstrated its adeptness in effectively managing costs and optimizing operational efficiency across all levels of its operations. This efficiency is reflected in the higher profitability ratios achieved in all segments, except for the gross margin. This indicates the company's commitment to maximizing returns and generating sustainable profitability.

The successful management of costs and operational efficiency has translated into favorable outcomes for Nasdaq's shareholders. In the first quarter of the fiscal year 2023, the company delivered higher returns to its shareholders, as evidenced by the increased Return on Equity (ROE). This highlights Nasdaq's dedication to creating value for its investors and underscores its ability to generate attractive returns on shareholders' equity.

By emphasizing cost control and operational effectiveness, Nasdaq has positioned itself to capitalize on market opportunities and navigate challenges effectively. This approach contributes to the company's overall financial strength and reinforces its commitment to delivering value to its shareholders in a sustainable manner.

1.4 Top 10 shareholders:

The top 10 shareholders together form ~60.85% of the total shareholding, signifying concentrated shareholding. Borse Dubai, Ltd., and Investor AB, are the biggest shareholders, holding the maximum stake in the company at ~18.20% and ~11.86%, respectively.

Section 2: Business Updates and Corporate Business Highlights

2.1 Recent Updates:

The below picture gives an overview of the recent updates:

2.2 Insights of Q1FY23:

Section 3: Key Risks & Outlook

Section 4: Stock Recommendation Summary:

4.1 Price Performance and Technical Summary: 

Stock Performance:

• The stock has corrected by 10.32% in the last week as well as by 19.55% in past six months.
• The stock is currently on the lower end of its 52-week range of USD 69.22 and 52-week low price of USD 48.06. Following the release of Q1FY23 results, the stock corrected by around 10.75%. Currently, the price is near an important support levels of USD 45.00-USD 50.00, and the price is expected to sustain these levels, therefore, there is an expectations of an upward movement.
• The price is currently trading below its long-term (200-day) SMA and its short-term (50-day) SMA , with the current RSI of 34.05.

4.2 Fundamental Valuation

Valuation Methodology: Price/Earnings per share Multiple Based Relative Valuation

Markets are trading in a highly volatile zone currently due to certain macroeconomic issues and geopolitical tensions prevailing. Therefore, it is prudent to follow a cautious approach while investing.

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is June 14, 2023. The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.

Note 4: The report publishing date is as per the Pacific Time Zone.

Technical Indicators Defined: -

Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.

 Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock.

 Stop-loss: It is a level to protect against further losses in case of unfavorable movement in the stock prices.