Intercontinental Exchange, Inc., together with its subsidiaries, engages in the provision of market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Singapore, India, Abu Dhabi, Israel, and Canada. It operates through three segments: Exchanges, Fixed Income and Data Services, and Mortgage Technology. The company operates regulated marketplaces for listing, trading, and clearing an array of derivatives contracts and financial securities, such as commodities, interest rates, foreign exchange, and equities, as well as corporate and exchange-traded funds; and trading venues, including regulated exchanges and clearing houses. It also offers energy, agricultural and metals, and financial futures and options; and cash equities and equity options, and over-the-counter and other markets, as well as listings and data and connectivity services. In addition, the company provides fixed income data and analytic, fixed income execution, CDS clearing, and other multi-asset class data and network services. Further, it offers proprietary and comprehensive mortgage origination platform, which serves residential mortgage loans; closing solutions that provides customers connectivity to the mortgage supply chain and facilitates the secure exchange of information; data and analytics services; and Data as a Service for lenders to access data and origination information. Intercontinental Exchange, Inc. was founded in 2000 and is headquartered in Atlanta, Georgia.

Intercontinental Exchange Inc.

Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the Neuberger Berman Core Equity ETF (Symbol: NBCR) where we have detected an approximate $177.1 million dollar inflow -- that's a 25.1% increase week over week in outstanding units (from 22,088,210 to 27,638,210). Among the largest underlying components of NBCR, in trading today Warner Bros Discovery Inc (Symbol: WBD) is down about 0.1%, Ryan Specialty Holdings Inc (Symbol: RYAN) is down about 5.7%, and Intercontinental Exchange Inc (Symbol: ICE) is lower by about 0.8%. For a complete list of holdings, visit the NBCR Holdings page » The chart below shows the one year price performance of NBCR, versus its 200 day moving average:
Looking at the chart above, NBCR's low point in its 52 week range is $22.47 per share, with $32.25 as the 52 week high point — that compares with a last trade of $31.91. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Also see:
DXC Stock Predictions
Top Ten Hedge Funds Holding NTLA
Institutional Holders of CGUS
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

NBCR, WBD, RYAN, ICE: ETF Inflow Alert

Intercontinental Exchange, Inc. ICE, the parent company of the New York Stock Exchange, came into the news on Jan. 19 after announcing plans to develop a platform that would allow round-the-clock trading of tokenized securities. The initiative marks a significant step toward integrating blockchain technology into traditional financial market infrastructure and reflects growing interest in digital assets among established exchanges.
The proposed platform is designed to enable continuous trading and settlement of securities represented as digital tokens on a blockchain. By moving beyond conventional trading hours, ICE, part of the Zacks Securities and Exchanges industry, aims to align capital markets more closely with the always-on nature of digital asset markets, potentially improving market access and liquidity for global participants. Tokenization could also streamline post-trade processes by reducing settlement times and operational complexity.
ICE’s initiative highlights a growing trend among large financial institutions to examine blockchain-driven solutions. As regulators work to define rules for digital securities, established exchanges such as ICE are positioning themselves to help shape compliant models for issuing, trading and settling tokenized assets.
While the project is still in development, it signals ICE’s intent to future-proof its business by adapting to evolving investor preferences and technological change. The announcement also highlights how traditional market operators are increasingly viewing blockchain not as a competing system, but as an infrastructure layer that can enhance transparency, efficiency and accessibility.
The plan places ICE at the forefront of efforts to bridge conventional equity markets with emerging digital asset ecosystems, a move that could influence how global exchanges operate in the coming years.
Over the past 12 months, ICE’s shares have jumped 16.7% compared with a 15.2% rise for its Zacks sub-industry. Cboe Global Markets, Inc. CBOE and CME Group Inc. CME, two of its peers from the same industry, have moved 40.5% and 20.1%, respectively, in the same period. While CBOE has a Zacks #2 (Buy), both ICE and CME carry a #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

ICE Unveils Plans for 24/7 Trading of Tokenized Securities

Last Friday, the three most widely followed benchmark indexes closed a losing week. The Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite declined roughly 0.3%, 0.4% and 0.7%, respectively.
Investor sentiment was affected by a mix of tariff-related trade war fears and uncertainty about economic policy, even as the earnings season kicked off and some sectors showed resilience. Tariff jitters, including recent U.S. tariff threats against European nations, prompted safe-haven flows into gold and pushed markets to price in heightened geopolitical risk, adding to volatility alongside rate expectations and data on inflation and factory activity.
Looking ahead, markets will be watching upcoming economic releases and central bank guidance for cues on interest-rate direction, as well as developments in global trade tensions. Any shifts in tariff policy or trade negotiations could quickly sway risk appetite and market direction in the weeks to come.
Regardless of market conditions, we, here at Zacks, provide investors with unbiased guidance on how to beat the market.
As usual, Zacks Research guided investors over the past three months with its time-tested methodologies. Given the prevailing market uncertainty, you may want to look at our feats to prepare better for your next action.
Here are some of our key achievements:
Amicus Therapeutics and Enhabit Surge Following Zacks Rank Upgrade
Shares of Amicus Therapeutics, Inc. FOLD have gained 61.7% (versus the S&P 500’s 1.2% increase) since it was upgraded to a Zacks Rank #1 (Strong Buy) on November 4.
Another stock, Enhabit, Inc. EHAB, which was upgraded to a #2 (Buy) on November 10, has returned 32.3% since then.
An equal-weight portfolio of Zacks Rank # 1 (Strong Buy) stocks outperformed the equal-weight S&P 500 index by 7 percentage points (+17.81% for the Zacks Rank #1 stocks vs. +10.85% for the index).
This hypothetical equal-weight portfolio returned +22.4% in 2024 vs. +13.7% for the equal-weight S&P 500 index. Over the preceding 10-year period (2016 through 2025), this portfolio of qual-weight Zacks Rank #1 stocks has outperformed the equal-weight S&P 500 index by more than 7 percentage points (+18.55% vs. +11.65%).
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Zacks Recommendation Upgrades Drilling Tools and Kennametal
Shares of Drilling Tools International Corporation DTI and Kennametal Inc. KMT have surged 41.2% and 22.5% (versus the S&P 500’s 1.2% rise), respectively, since their Zacks Recommendation was upgraded to Outperform on November 12.
While the Zacks Rank is our short-term rating system that is most effective over the one- to three-month holding horizon, the Zacks Recommendation aims to predict performance over the next 6 to 12 months. However, just like the Zacks Rank, the foundation for the Zacks Recommendation is trends in earnings estimate revisions.
The Zacks Recommendation classifies stocks into three groups — Outperform, Neutral and Underperform. While these recommendations are determined quantitatively, our analysts have the flexibility to override them for the 1100+ stocks they closely follow based on their better judgment of factors such as valuation, industry conditions and management effectiveness than the quantitative model.
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Zacks Focus List Stocks Micron, Lam Research Shoot Up
Shares of Micron Technology, Inc. MU, which belongs to the Zacks Focus List, have gained 79.1% over the past 12 weeks. The stock was added to the Focus List on December 27, 2016. Another Focus-List holding, Lam Research Corporation LRCX, which was added to the portfolio on December 5, 2016, has returned 56.6% over the past 12 weeks. The S&P 500 has inched up 4.6% over this period.
The 50-stock Focus List portfolio returned +22% in 2025 (through November 30th, 2025) vs. +17.8% for the S&P 500 index and +10.9% for the equal-weight version of the index.
The Zacks Focus List portfolio returned +18.41% in 2024 vs. +25.04% for the S&P 500 index and +13% for the equal-weight S&P 500 index. The portfolio had returned +29.54% in 2023 vs. +26.28% for the S&P 500 index and +13.61% for the equal-weight S&P 500 index. In 2022, the portfolio returned -15.2% vs. the S&P 500 index’s -17.96%.
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Zacks ECAP Stocks Amgen & Novo Nordisk Gain Significantly
Amgen Inc. AMGN, a component of our Earnings Certain Admiral Portfolio (ECAP), has jumped 11.7% over the past 12 weeks. Novo Nordisk A/S NVO has also followed Amgen with 11.1% returns.
The Zacks Earnings Certain Admiral Portfolio (ECAP), which consists of 30 concentrated, ultra-defensive, long-term Buy-and-Hold stocks, returned -2.3% in the fourth quarter of 2025 vs. the S&P 500 index’s +2.7% gain (SPY ETF). For 2025 as a whole, the portfolio returned -1.67% vs. +17.9% gain for the S&P 500 index.
For the year 2024, the portfolio returned +16.26% vs. +24.89% for the S&P 500 index (SPY ETF).
In 2023, the portfolio returned +12.17% vs. +26.28% for the S&P 500 index. The portfolio returned -4.7% in 2022 vs. the S&P 500 index’s -17.96%.
With little to no turnover and annual rebalance periodicity, ECAP seeks to minimize capital loss by holding shares of companies whose earnings streams exhibit a proven 20+ year track record of surviving recessionary periods with minimal impact on aggregate earnings growth relative to the overall S&P 500.
The ECAP and many other model portfolios are available as part of Zacks Advisor Tools, a cloud-based solution to access Zacks award-winning stock, mutual fund and ETF research. Click here to schedule a demo.
Zacks ECDP Stocks Intercontinental Exchange and Hershey Outperform Peers
Intercontinental Exchange, Inc. ICE, which is part of our Earnings Certain Dividend Portfolio (ECDP), has returned 13.3% over the past 12 weeks. Another ECDP stock, The Hershey Company HSY, has climbed 5.3% over the same time frame. Of course, the inclination of investors toward quality dividend stocks to secure an income stream amid heightened market volatility contributed to this performance.
With an extremely low beta and a history of minimum earnings variability over the last 20+ years, this 25-stock portfolio helps significantly mitigate risk.
The Zacks Earnings Certain Dividend Portfolio (ECDP) returned -2.1% in 2025 Q4 vs. the S&P 500 index’s +2.7% gain and the Dividend Aristocrats ETF’s (NOBL) +1.6% return. For 2025, the portfolio returned -0.6% vs. +6.8% gain for the Dividend Aristocrat ETF.
For the full year 2024, the portfolio returned +6.95% vs. +24.89% for the S&P 500 index and +6.72% for NOBL.
The portfolio returned -0.9% in 2023 vs. +26.28% for the S&P 500 index and +8.11% for NOBL. The portfolio returned -2.3% in 2022 vs. -17.96% for the S&P 500 index and -8.34% for NOBL.
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Zacks Top 10 Stock FirstCash Delivers Solid Returns
FirstCash Holdings, Inc. FCFS, from the Zacks Top 10 Stocks for 2025, has jumped 9.1% since Jan. 5, 2026, compared with the S&P 500 Index’s 1.2% increase.
The Top 10 portfolio returned +22.6% in 2025 vs. +17.9% for the S&P 500 index and +11.4% for the equal-weight version of the index.
The Top 10 portfolio returned +62.98% in 2024, vs. +25.04% for the S&P 500 index and +13% for the equal-weight version of the index. The portfolio had returned +25.15% in 2023 vs. +26.28% for the S&P 500 index.
Since 2012, the Top 10 portfolio has produced a cumulative return of +2,472.7%vs. +561.6% for the S&P 500 index and +403.3% for the equal-weight version of the index. The portfolio has produced an average annual return of +25.8% in the period 2012 through year-end 2025, vs. +13.1% for the S&P 500 index and +10.5% for the equal-weight version of the index.
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The incredible demand for data is fueling the market's next digital gold rush. As data centers continue to be built and constantly upgraded, the companies that provide the hardware for these behemoths will become the NVIDIAs of tomorrow.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Beat the Market the Zacks Way: Amicus, Micron, Amgen in Focus

MarketAxess Holdings Inc. MKTX recently announced that in the fourth quarter of 2025, it achieved a total trading average daily volume (ADV) of $37.9 billion, an 8% year-over-year decrease. Declines in U.S. Government Bond Rates and Agencies and Other Government Bond Rates affected the total volume. However, its electronic trading platform facilitated $958.5 billion in total credit trading volume in the quarter, 11% year-over-year growth.
MarketAxess’ Eurobonds and Emerging markets credit businesses witnessed 20% and 15% year-over-year growth, respectively, in ADV. New initiatives in the client-initiated, portfolio trading and dealer-initiated channels have driven growth. High-grade markets saw a 6% increase in ADV from the year-ago period. Meanwhile, in rates trading, agency and other government bonds witnessed 43% decline in ADV, whereas U.S. government bonds fell 16%, taking total rates trading down 17% year over year.
Moreover, total credit average variable transaction fees per million (“FPM”) declined 8% year over year in the quarter due to protocol mix, while the same for total rates grew 10% year over year. The number of trading days in the United States and the U.K. were 62 and 64, respectively, in the fourth quarter. Its estimated market share of U.S. credit portfolio trading came at 20.6%, rising from 16.2% a year ago.
MarketAxess is expanding its dealer-initiated and workflow tools and diversifying beyond core fixed-income trading through enhanced protocol solutions and electronic execution offerings. In June 2025, it launched the first fully electronic trading workflow for Indian Government Bonds accessible to Foreign Portfolio Investors. It now offers electronic access to the entire JP Morgan Global Bond Index – Emerging Markets, a major step in EM diversification.
How MKTX’s Peers Are Expanding
CME Group CME is expanding its operations through global growth initiatives, product innovation and retail client and technology enhancements. It extended its partnership with Nasdaq, extending the exclusive NASDAQ futures license through 2039. CME launched Spot-Quoted XRP and SOL futures in December 2025, which will complement the existing Spot-Quoted Bitcoin and Ether futures.
Bigger peer Intercontinental Exchange, Inc. ICE is expanding through strategic investments, technological innovations and new service launches. The digitization taking place in the U.S. residential mortgage industry is expected to support its growth. ICE’s strong balance sheet enables it to make acquisitions that not only fuel its growth but also bring expense synergies.
MarketAxess’ Price Performance, Valuation and Estimates
Shares of MarketAxess have declined 21.9% over the past year against the industry’s growth of 37.7%.
Image Source: Zacks Investment Research
From a valuation standpoint, MarketAxess trades at a forward price-to-earnings ratio of 21.32X, higher than the industry average. MKTX carries a Value Score of D.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for MarketAxess’ fourth-quarter 2025 earnings implies a 1.2% decline year over year. However, the consensus mark for full-year earnings predicts a 1.9% increase from a year ago.
Image Source: Zacks Investment Research
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

MarketAxess 4Q25 Sneak Peek: ADV Cools, Eurobonds Cushion the Fall

Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the State Street Financial Select Sector SPDR ETF (Symbol: XLF) where we have detected an approximate $315.9 million dollar outflow -- that's a 0.6% decrease week over week (from 979,345,427 to 973,745,427). Among the largest underlying components of XLF, in trading today Blackstone Inc (Symbol: BX) is off about 3.3%, CME Group (Symbol: CME) is down about 1.8%, and Intercontinental Exchange Inc (Symbol: ICE) is lower by about 1.4%. For a complete list of holdings, visit the XLF Holdings page » The chart below shows the one year price performance of XLF, versus its 200 day moving average:
Looking at the chart above, XLF's low point in its 52 week range is $42.21 per share, with $56.515 as the 52 week high point — that compares with a last trade of $55.56. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Also see:
ATO market cap history
Institutional Holders of CBH
MGIC Stock Predictions
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

XLF, BX, CME, ICE: Large Outflows Detected at ETF

(RTTNews) - Intercontinental Exchange, Inc. (NYSE: ICE), the provider of technology and financial data, Wednesday announced that its index The New York Stock Exchange has agreed with MSCI Inc. (MSCI), to list U.S. options listings for benchmark MSCI indexes in early 2026.
Options on MSCI indexes will be listed on NYSE Arca and NYSE American options markets, including the MSCI Emerging Markets Index, MSCI EAFE Index, MSCI ACWI Index, MSCI World Index, and MSCI USA Index.
MSCI and ICE share decades long partnership built on innovation and trust. Since ICE launched futures based on MSCI Emerging Markets and MSCI EAFE indexes 16 years ago, its contracts are ranked in the top 10 index futures globally by notional open interest and provide a liquid set of tools for market participants to manage equity risk, Intercontinental Exchange said in a statement.
In pre-market activity, ICE shares were trading at $166.99, up 0.59% and MSCI shares were trading at 587.56, up 0.10% on the New York Stock Exchange.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

NYSE To List US Options For Benchmark MSCI Indexes

Explore the exciting world of Intercontinental Exchange (NYSE: ICE) with our contributing expert analysts in this Motley Fool Scoreboard episode. Check out the video below to gain valuable insights into market trends and potential investment opportunities!
*Stock prices used were the prices of Nov. 12, 2025. The video was published on Dec. 22, 2025.
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Anand Chokkavelu has no position in any of the stocks mentioned. Dan Caplinger has no position in any of the stocks mentioned. Toby Bordelon has no position in any of the stocks mentioned. The Motley Fool recommends Intercontinental Exchange. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Intercontinental Exchange: A Strong Contender in the Financial Sector

Shares of Nasdaq, Inc. NDAQ closed at $94.71 on Thursday, near its 52-week high of $97.63. This proximity underscores investor confidence. It has the ingredients for further price appreciation.
The stock is trading above the 50-day and 200-day simple moving averages (SMA) of $88.78 and $85.93, respectively, indicating solid upward momentum. SMA is a widely used technical analysis tool to predict future price trends by analyzing historical price data.
Image Source: Zacks Investment Research
NDAQ is an Outperformer
Shares of Nasdaq have gained 21.9% in the past year, outperforming the industry's growth of 8.8%, the Finance sector’s return of 16.4% and the Zacks S&P 500 composite’s appreciation of 15.2%.
Image Source: Zacks Investment Research
NDAQ Shares are Overvalued
Nasdaq shares are trading at a multiple higher than the Zacks Securities and Exchange industry. Its forward price-to-earnings of 25.04X is higher than the industry average of 24.1X.
However, shares of Intercontinental Exchange Inc. ICE, Cboe Global Markets, Inc. CBOE and CME Group Inc. CME are trading at a discount to the industry average.
NDAQ’s Growth Projection Encourages
The Zacks Consensus Estimate for Nasdaq’s 2025 earnings per share indicates a year-over-year increase of 21.2%. The consensus estimate for revenues is pegged at $5.22 billion, implying a year-over-year improvement of 12.2%. The consensus estimate for 2026 earnings per share and revenues indicates an increase of 10.8% and 7.2%, respectively, from the corresponding 2025 estimates.
The long-term earnings growth is expected to be 16.5%, better than the industry average of 11%.
Optimist Analyst Sentiment on NDAQ
Each of the 10 analysts covering the stock has raised estimates for 2025, and eight analysts have raised the same for 2026 over the past 60 days. Thus, the Zacks Consensus Estimate for 2025 and 2026 earnings has moved up 1.5% and 1.8%, respectively, in the past 60 days.
Average Target Price for ICE Suggests Upside
Based on short-term price targets offered by 16 analysts, the Zacks average price target is $106.50 per share. The average suggests a potential 13.6% upside from the last closing price.
Image Source: Zacks Investment Research
Nasdaq’s Favorable Return on Capital
Return on equity in the trailing 12 months was 16.2%, better than the industry average of 14.8%. This highlights the company’s efficiency in utilizing shareholders’ funds.
Also, the return on invested capital (ROIC) has been increasing over the last few quarters as the company raised its capital investment over the same time frame, reflecting NDAQ’s efficiency in utilizing funds to generate income. ROIC in the trailing 12 months was 7.3%, better than the industry average of 6.7%.
Key Points to Note for NDAQ
Nasdaq’s growth strategy focuses on generating more revenues from high-growth Market Technology and Information Services segments, forward R&D spending on higher-growth products, expansion of its Anti-Financial Crime clientele and innovations.
Nasdaq remains focused on improving growth via organic means. The company thus expects growth from its index and analytics businesses, followed by moderate growth in its exchange data products across U.S. and Nordic equities.
Nasdaq continues to expect 2025 revenue growth within the medium-term outlook for both Capital Access Platforms and Financial Technology, with Capital Access Platforms at or slightly above the high end of the range, coming from continuous trends in index growth and slightly better-than-expected performance in data and listings within FinTech.
Nasdaq also expects Financial Crime Management Technology in the range of mid-20s, Regulatory Technology at the High single/low double digits, and with Capital Markets Technology within its range of high single to low double digits. It expects data and listings to grow within the medium-term outlook of low single digits in 2025, and Index revenues to grow above the medium-term outlook of mid-to-high single digits in 2025.
Nasdaq has grown meaningfully over the years through a number of strategic expansions. These acquisitions have helped the company gain direct access to the Canadian equities market, expand its technology offering, and improve its market surveillance techniques.
Nasdaq boasts a healthy balance sheet and cash position, along with modest operating cash flow from its diverse business model.
Conclusion
Nasdaq is set to grow on impressive organic growth, an increasing on-trading revenue base and strategic buyouts to capitalize on market opportunities. Nasdaq’s focus on Market Technology and Information Services businesses helps explore vast opportunities through its developmental strategies.
NDAQ’s dividend story is impressive. It has steadily increased its dividend each year and will continue to do so to achieve a dividend payout ratio of 35-38% by 2027.
Higher return on capital, favorable growth estimates, and attractive valuations should continue to benefit NDAQ over the long term.
Investors should refrain from buying this Zacks Rank #3 (Hold) stock now, given its premium valuation. Instead, they should wait for a better entry point to optimize returns. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

NDAQ Stock Near 52-Week High: A Signal for Investors to Hold Tight?

Intercontinental Exchange Inc. ICE has been trading above its 50-day simple moving average (SMA), signaling a short-term bullish trend. Its share price, as of Dec. 18, 2025, was $160.07, down 15.4% from its 52-week high of $189.35.
The 50-day SMA is a key indicator for traders and analysts to identify support and resistance levels. It is considered particularly important as this is the first marker of an uptrend or downtrend.
Image Source: Zacks Investment Research
With a market capitalization of $91.62 billion, the average volume of shares traded in the last three months was 3.8 million.
ICE Shares are Affordable
Intercontinental shares are trading at a forward price-to-earnings of 21.42X, lower than the industry average of 24.1X. Its pricing, at a discount to the industry average, gives a better entry point to investors.
Image Source: Zacks Investment Research
Price Performance of ICE
Shares of Intercontinental Exchange have gained 6.5% in the past year compared with the industry’s growth of 8.7%.
Intercontinental has outperformed its peer, OTC Markets Group Inc. OTCM, which has lost 1.9% in the past year. Meanwhile, shares of CME Group Inc. CME and Nasdaq, Inc. NDAQ have gained 11.6% and 21.9%, respectively, in the past year.
Image Source: Zacks Investment Research
ICE’s Growth Projection Encourages
The Zacks Consensus Estimate for Intercontinental Exchange’s 2025 earnings per share indicates a year-over-year increase of 13.6%. The consensus estimate for revenues is pegged at $9.88 billion, implying a year-over-year improvement of 6.4%.
The consensus estimate for 2026 earnings per share and revenues indicates an increase of 8.5% and 5.8%, respectively, from the corresponding 2025 estimates.
Average Target Price for ICE Suggests Upside
Based on short-term price targets offered by 18 analysts, the Zacks average price target is $191.07 per share. The average suggests a potential 18.7% upside from the last closing price.
Image Source: Zacks Investment Research
Factors Acting in Favor of ICE Stock
ICE’s top line is poised to improve on strength in global data services and index business, growth in pricing and reference data business, and strength in ICE Global Network offering, solid desktop, feeds, and derivatives analytics. The company has been achieving expense synergies from strategic acquisitions, which have also strengthened its portfolio and expanded its presence.
ICE boasts the largest mortgage network across the United States and thus remains well-positioned to benefit from accelerated digitization in the residential mortgage industry.
Continued adoption of digital solutions, MSP mortgage servicing system revenues and default management revenues are expected to drive Mortgage Technology’s revenues. In the fourth quarter of 2025, ICE expects revenues of Mortgage Technology to remain at the level of the third quarter of 2025, primarily driven by Mr. Cooper's acquisition of Flagstar and customers resetting their minimums on Encompass. ICE expects these items to largely be offset by revenues from new customers coming online. For 2025, the company expects total revenue growth in the Mortgage Technology revenues in the low-to-mid single digits.
ICE continuously engages in strategic investments supported by a healthy and minimal risk-based balance sheet, which also offers stability and buoyancy over the medium to long term.
Risks for ICE
However, operating expenses have been increasing over the last several years, weighing on margin expansion. With continuous growth initiatives like product launches and technology upgrades, we believe that expenses are likely to remain elevated in the near term.
Though the debt balance declined, its leverage, as well as times interest earned, compares unfavorably with the industry average.
Conclusion
ICE is poised for growth, banking on the strength of its compelling portfolio and expansive risk-management services, which also ensure revenue flow, as well as strategic buyouts, a solid balance sheet, and effective capital deployment. Its dividend history is impressive. It has more than doubled its dividends in the last six years.
Favorable growth estimates, as well as attractive valuations, should continue to benefit ICE over the long term.
It is, therefore, wise to hold on to this Zacks Rank #3 (Hold) stock at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

ICE Stock Trades Above 50-Day SMA: What Should Investors Do?

Below is Validea's guru fundamental report for INTERCONTINENTAL EXCHANGE INC (ICE). Of the 22 guru strategies we follow, ICE rates highest using our Growth Investor model based on the published strategy of Martin Zweig. This strategy looks for growth stocks with persistent accelerating earnings and sales growth, reasonable valuations and low debt.
INTERCONTINENTAL EXCHANGE INC (ICE) is a large-cap growth stock in the Investment Services industry. The rating using this strategy is 69% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
Detailed Analysis of INTERCONTINENTAL EXCHANGE INC
More Information on Martin Zweig
About Martin Zweig: During the 15 years that it was monitored, Zweig's stock recommendation newsletter returned an average of 15.9 percent per year, during which time it was ranked number one based on risk-adjusted returns by Hulbert Financial Digest. Zweig has managed both mutual and hedge funds during his career, and he's put the fortune he's compiled to some interesting uses. He has owned what Forbes reported was the most expensive apartment in New York, a $70 million penthouse that sits atop Manhattan's Pierre Hotel, and he is a collector of all sorts of pop culture and historical memorabilia -- among his purchases are the gun used by Clint Eastwood in "Dirty Harry", a stock certificate signed by Commodore Vanderbilt, and even two old-fashioned gas pumps similar to those he'd seen at a nearby gas station while growing up in Cleveland, according to published reports.
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Dividend Aristocrats 2025
About Validea: Validea is aninvestment researchservice that follows the published strategies of investment legends. Validea offers both stock analysis and model portfolios based on gurus who have outperformed the market over the long-term, including Warren Buffett, Benjamin Graham, Peter Lynch and Martin Zweig. For more information about Validea, click here
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.