Nasdaq Sees 18% Undervaluation Following SEC Approval for Bitcoin Options

Nasdaq (NDAQ) has received approval from the U.S. Securities and Exchange Commission to list cash-settled Bitcoin index options under the QBTC ticker.

This move places regulated crypto-linked derivatives alongside Nasdaq's broader technology and data businesses, coming at a time when the share price is down 10.28% year-to-date but has shown a 76.78% total return over three years.

The analysts' consensus price target of $106.47 for Nasdaq suggests that the stock is undervalued compared to its last close at $86.72, with some analysts predicting an even higher price target of $120.00 and others as low as $82.00.