• EN

    • -+ 0.00%
    -+ 0.00%
    -+ 0.00%

    Nasdaq (NDAQ) Faces A Fresh Test Following Q3 Revenue Growth And 23 5 Trading Plans

    Simply Wall St·11/12/2026 23:34:25
    Listen to the news

    Nasdaq (NDAQ) is back in focus after reporting higher third quarter net revenue and market services revenue, while also detailing plans to roll out 23/5 trading in December 2026.

    Recent trading has been upbeat for Nasdaq, with a 16.23% 1 month share price return and an 11.99% 3 month share price return. The 1 year total shareholder return of 25.91% points to momentum that has been building rather than fading.

    Scan beyond Nasdaq and see how other market infrastructure and trading platform stocks are setting up right now with our hand picked 53 AI infrastructure stocks.

    Nasdaq has rallied hard into the latest results, yet the stock still trades at a discount to the average analyst target. Is that a sign of lingering market caution, or an opening in the valuation story ahead?

    Most Popular Narrative: 4% Overvalued

    On the Simply Wall St fair value estimate, Nasdaq last closed at $108.65 compared with a narrative fair value of $104.19, which frames the current move as slightly ahead of that intrinsic view. According to zonedinout, an investor in the Simply Wall St Community who wrote the narrative, the bigger point is how investors think about shocks, recoveries, and patience rather than any single price target.

    Four crashes, four different causes, four different recovery timelines: two years, fifteen years, years, months. If there were a reliable way to know in real time which kind you were in, that would be worth more than almost anything else in investing. Nobody has reliably had that in any of these four cases. What every one of them rewarded instead was the boring stuff, not being leveraged past what you could survive, having a plan for how much you were willing to lose before you needed to act on it, and not needing to guess correctly about the recovery shape to avoid being wiped out waiting for it.

    See why 5 investors see Nasdaq as 4% overvalued.

    Result: Fair Value of $104.19 (OVERVALUED)

    Still, the fair value gap could close if Nasdaq underdelivers on revenue growth, or if higher interest rates compress valuation multiples further.

    Find out about the key risks to this Nasdaq narrative.

    Next Steps

    Mixed signals on Nasdaq so far. If you want to move quickly and form your own judgment, start with the balance of 3 key rewards and 2 important warning signs.

    Looking for more Nasdaq investment ideas?

    If Nasdaq has sharpened your focus on market infrastructure, do not stop here. Use targeted screeners to surface stocks that fit your exact playbook.