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Nasdaq, Inc.

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Nasdaq remains focused on growth via acquisitions and organic initiatives, thereby enabling its entry and cross-selling opportunities into the new markets on a low-cost platform and ramp up non-transaction revenue base. Nasdaq reviews its operations to ramp up the growth profile and intends to lower capital resources in business that fail to offer sizeable growth. A healthy balance sheet and cash position aid in de-leveraging, investing in growth initiatives and engaging in shareholder-friendly moves. A Zacks Rank #3 and an Earnings ESP of +0.99% makes us reasonably confident of earnings beat as it reports fourth quarter results on Jan 30. However, Nasdaq has been witnessing elevated expenses, restricting the desired margin expansion. It estimates 2018 non-GAAP operating expenses in the range of $1.310-$1.335 billion and the margin to contract in 2018 and 2019 as well. Shares of Nasdaq have lagged the industry in a year.

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