How Investors May Respond To Nasdaq (NDAQ) Expanding Private Markets Data Through LSEG Partnership

• On November 6, 2025, LSEG announced a partnership with Nasdaq to license and integrate Nasdaq's private markets datasets, benchmarks, and intelligence into LSEG's Workspace and Datafeeds.
• This collaboration signals Nasdaq’s deepening push into private markets data, offering institutional clients expanded transparency and access within a segment traditionally limited in visibility.
• We'll examine how Nasdaq’s broadened private markets reach through this partnership could influence its investment narrative and growth outlook.

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Nasdaq Investment Narrative Recap

To be attracted to Nasdaq as a shareholder, you need to believe in its ability to stay at the forefront of capital markets innovation, across trading, data, and technology, despite stiff competition and regulatory pressures. The recent partnership with LSEG, while expanding revenue streams and strengthening Nasdaq’s private markets data profile, is not likely to materially alter the biggest immediate business catalysts or risks, which remain tied to broader macroeconomic conditions and client deal timing.

Among recent announcements, Nasdaq’s expansion of its AWS partnership is especially relevant, as it aims to modernize infrastructure for institutional clients, providing another platform for advanced data solutions like those now being distributed through LSEG. Both developments speak to Nasdaq’s drive for product innovation and wider international reach, which are central to the company’s growth catalysts.

On the other hand, investors should be aware of how competition could still quickly impact Nasdaq’s market share and margins if...

Read the full narrative on Nasdaq (it's free!)

Nasdaq's narrative projects $6.1 billion revenue and $2.0 billion earnings by 2028. This requires a 9.2% yearly revenue decline and a $0.5 billion earnings increase from $1.5 billion.

Uncover how Nasdaq's forecasts yield a $102.35 fair value, a 17% upside to its current price.

Exploring Other Perspectives

Seven fair value estimates from the Simply Wall St Community for Nasdaq range from US$37.13 to US$256.45 per share. While these perspectives span a wide spectrum, keep in mind that competition and client delays remain important factors for Nasdaq’s business performance. Consider reviewing the variety of community forecasts to see why opinions differ so much.

Explore 7 other fair value estimates on Nasdaq - why the stock might be worth less than half the current price!

Build Your Own Nasdaq Narrative

Disagree with existing narratives? Create your own in under 3 minutes - extraordinary investment returns rarely come from following the herd.

• A great starting point for your Nasdaq research is our analysis highlighting 2 key rewards and 1 important warning sign that could impact your investment decision.
• Our free Nasdaq research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Nasdaq's overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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