Nasdaq Seeks Growth in Private Markets as Analysts Trim Price Target

Facing a sustained decline in its share price, Nasdaq is aggressively expanding its data services portfolio. The latest strategic move targets the vast and opaque private markets sector with a new suite of benchmarks. This initiative comes as equity researchers, responding to recent stock performance, have adjusted their valuation forecasts downward. The central question for investors is whether this deeper push into index services can revitalize market sentiment.

• Current Share Price: Approximately $78.40
• Year-to-Date Performance: -19.8%
• Updated Price Target (Argus): $98 (reduced from $105)
• New Product Launch: Nasdaq Private Capital Indexes (covering $11.4 trillion in Assets Under Management)

Despite operational headway, Nasdaq's equity has faced significant pressure. Analysts at Argus recently revised their price target from $105 to $98, though they maintained their "Buy" recommendation. The stock's technical position remains weak, with current trading levels sitting well below its 20-day and 100-day moving averages. A potential near-term positive is that technical indicators, including the Relative Strength Index (RSI), now suggest an oversold condition, which may help slow selling momentum.

Bridging Transparency in a Trillion-Dollar Arena

The launch of the Nasdaq Private Capital Indexes represents a direct effort to bring clarity to a fragmented sector. This new index family leverages data from the Nasdaq eVestment platform to track the performance of more than 14,000 institutional funds. Encompassing a staggering $11.4 trillion in AUM, the benchmarks provide coverage across private equity, venture capital, private debt, and real estate.

Should investors sell immediately? Or is it worth buying Nasdaq?

Market observers view this as a competitive challenge to established data providers. The strategy aims to capitalize on growing institutional demand for performance benchmarks in alternative assets, thereby boosting Nasdaq's recurring revenue streams.

Contrasting Performance: Operational Strength vs. Market Weakness

The stock's downturn appears at odds with the company's recent financial reports. In late January, Nasdaq announced fourth-quarter results showing a 13% revenue increase to $1.4 billion. A key metric, annualized recurring revenue (ARR), which signals business model stability, grew by 10%. This strength was primarily driven by the company's fintech and index divisions.

The divergence highlights a disconnect between Nasdaq's fundamental growth and its current market valuation. Investors are now looking ahead to April 23, 2026, when the company will report first-quarter results. That announcement is expected to provide early evidence of how much the new private market indexes are contributing to growth within the index segment.