US IPO market expected to rebound significantly! Over 80 companies in line to list on the NASDAQ Composite Index.

Zhitong App learned that Adena Friedman, CEO of Nasdaq Inc., recently stated in an interview that there are currently more than 80 companies worldwide preparing to go public on the Nasdaq Composite Index stock market. It is expected that this year will be a busy year for initial public offerings (IPOs). Friedman said in an interview with the media in Davos on Tuesday, "We have about 85 companies that have submitted applications to list on the Nasdaq Composite Index market, which means they are ready for full access to the Nasdaq Composite Index market."

As one of the largest stock exchange operators in the world, Nasdaq has been in a slump in IPO activity in recent years. The number of IPOs on the Nasdaq Composite Index has dropped significantly from its peak in 2021. As CEO, Friedman has led Nasdaq to surpass its role as an exchange, allowing it to continue to grow its performance despite a decline in market business.

Over time, Nasdaq has gradually shifted its resources to its subsidiary products with more predictable revenue streams, rather than relying solely on stock trading and market volatility for revenue.

However, Friedman emphasized that the stock trading market is still the foundation of the company and will always be. Financial data shows that solutions, including data and analytics, currently account for about 75% of Nasdaq's revenue, while market trading accounts for 25%.

Friedman said on Tuesday that US stock IPOs are very likely to heat up significantly in 2024, and investors need to be prepared to invest. She said that if global investors believe that benchmark interest rates will not rise, and as unknown factors become more known, they can choose to take on a greater degree of risk. She said, "I do believe that there will be larger-scale IPO opportunities and stock trading opportunities this year."

As the number of IPOs is expected to rebound significantly in 2024, the stock price of Nasdaq may usher in a new wave of growth. Analysts at Citigroup, a major Wall Street bank, raised their target price for Nasdaq (NDAQ.US) from $56.00 to $63.00 in their latest stock research report, while Citigroup currently rates the financial services provider and exchange operator as "neutral". The latest target price from Citigroup indicates a potential upside of about 11% from the latest closing price over the next 12 months. In terms of Wall Street stock ratings and price expectations, according to the compiled data from Seeking Alpha, Wall Street analysts have given a consensus rating of "Hold" to the NASDAQ Composite Index company, with an average target price of $60.94, indicating a potential upside of nearly 8% in the next 12 months based on the average target price benchmark. The highest target price on Wall Street is as high as $82.