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NDAQ vs RJF
Which Stock Would AI Choose? Nasdaq, Inc. (NDAQ) vs. Raymond James Financial (RJF) Stock Comparison
Key Takeaways
- Nasdaq, Inc. (NDAQ) is a diversified exchange, data, and financial-technology platform, while Raymond James Financial (RJF) is a wealth-management, capital-markets, and banking franchise.
- NDAQ has delivered accelerating, double-digit revenue growth and record annual revenue, driven by index inflows and financial-crime technology.
- RJF has posted record client assets and fee-based balances, but its capital-markets and investment-banking revenue softened in the most recent quarter.
- NDAQ carries higher leverage and a richer valuation, while RJF offers a larger, steady capital-return program and a conservative balance sheet.
- Relative performance and market positioning diverge: NDAQ is riding structural fintech momentum, whereas RJF's near-term results hinge on rate-sensitive and deal-flow-sensitive segments.
Introduction
Investors comparing NDAQ and RJF are weighing two very different financial-services franchises. Nasdaq, Inc. has evolved from a stock exchange into a technology and data platform spanning listings, market services, indices, and anti-financial-crime software. Raymond James Financial is a diversified wealth manager and investment bank serving individual investors, institutions, and advisers. This stock comparison is relevant for traders and long-term investors seeking to understand how a market-infrastructure growth story stacks up against a rate-sensitive, asset-gathering wealth franchise. Both companies operate in financial services, yet their growth drivers, risk profiles, and market positioning differ meaningfully, making the relative performance and momentum of each a useful lens for allocation decisions.
NDAQ Overview and Recent Performance
Nasdaq, Inc. (NDAQ) operates a broad platform spanning Capital Access Platforms (listings and indices), Financial Technology, and Market Services. In recent quarters the company has shown accelerating momentum: full-year net revenue surpassed $5 billion for the first time, rising about 12%, while solutions revenue grew roughly 11% and annual recurring revenue, or ARR (recurring, contract-based revenue), approached $3.1 billion. The index franchise was a standout, generating record net inflows and an all-time high in exchange-traded product (ETP) assets under management (AUM).
Recent stock behavior has reflected a tug-of-war between strong fundamentals and a relatively rich valuation. The company also recorded a landmark listing transfer from Walmart and led U.S. listings by proceeds raised for a seventh straight year. Sentiment has been supported by double-digit growth in financial-crime-management technology and by new AI-enabled products, including an "Agentic AI workforce" for compliance workflows. Offsetting factors include elevated operating expenses, higher leverage (around 2.9 times), and some execution risk around extended trading hours and enterprise deal timing.
RJF Overview and Recent Performance
Raymond James Financial (RJF) operates four segments: Private Client Group (wealth management), Capital Markets, Asset Management, and a Bank. The firm has been a consistent asset gatherer, recently reporting record client assets under administration of roughly $1.77 trillion and record fee-based assets surpassing $1 trillion. Net revenue reached a record in its latest fiscal quarter, up about 6% year over year, while adjusted earnings per share, or EPS (profit allocated per share), held near prior-year levels.
Recent stock behavior has been more subdued. The capital-markets segment posted a notable decline, with investment-banking revenue falling on lower M&A (mergers and acquisitions) advisory activity and deal-closing timing, even as the pipeline remained described as strong. Rate cuts have also pressured interest-sensitive revenue. The firm returned capital aggressively—raising its dividend by 8%, repurchasing $400 million of stock, and authorizing a new $2 billion buyback—while maintaining conservative capital ratios, including a Tier 1 leverage ratio near 12.7% and an adjusted return on tangible common equity (ROTCE, a measure of profitability on shareholder capital) of about 21%.
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Head-to-Head Comparison
The core contrast is business model. NDAQ is increasingly a recurring-revenue technology and data business—roughly 11% solutions growth and a fast-expanding anti-financial-crime franchise—with trading volumes and listings providing cyclical upside. RJF, by contrast, is driven by asset gathering, fee-based accounts, and interest income, which makes it more sensitive to interest rates and market levels.
Growth drivers differ accordingly. NDAQ's catalysts include index inflows, cross-selling across its "One Nasdaq" platform, and AI-enabled compliance tools. RJF's catalysts are adviser recruitment, net new assets, and a rebound in investment banking. On momentum, NDAQ has shown stronger and more consistent revenue acceleration, while RJF's latest quarter revealed softer deal flow even as wealth-management fundamentals stayed solid. Risk factors also diverge: NDAQ faces integration and leverage concerns, whereas RJF faces margin compression from lower rates and lumpy capital-markets revenue. Sector exposure reinforces the divide—NDAQ skews toward market infrastructure and fintech, RJF toward wealth management and banking.
Tickeron AI Verdict
Based on observable trend consistency, relative momentum, and catalyst visibility, Tickeron's AI would likely lean toward NDAQ in the current environment. Nasdaq's recurring-revenue mix, accelerating solutions growth, record index inflows, and structural shift toward financial technology provide a steadier, less rate-dependent growth path than Raymond James's more cyclical capital-markets and interest-sensitive segments. That said, the preference is probabilistic rather than definitive: RJF's record client assets, strong capital position, and aggressive capital returns make it a resilient franchise whose relative attractiveness could improve quickly if investment-banking activity and rate conditions firm. Both names offer distinct risk-reward profiles, and the "better" choice ultimately depends on an investor's timeframe and tolerance for cyclicality.
Disclaimer
The information on this webpage is provided for general informational and educational purposes only and is not intended as investment advice, a recommendation to purchase or sell any security, or an offer or solicitation related to investments. It does not consider your personal financial situation, goals, or risk profile, and all investing carries inherent risks, including the possibility of losing your entire investment. For more details, please review our full disclaimer.
To compare these two companies we present long-term analysis, their fundamental ratings and make comparative short-term technical analysis which are presented below. The conclusion is NDAQ is a Hold and RJF is a Buy.
NDAQ in upward trend: price rose above 50-day moving average on October 20, 2026
NDAQ moved above its 50-day moving average on October 20, 2026 date and that indicates a change from a downward trend to an upward trend. In 25 of 32 similar past instances, the stock price increased further within the following month. The odds of a continued upward trend are 78%.
Technical Analysis (Indicators)
Bullish Trend Analysis
The Momentum Indicator moved above the 0 level on October 15, 2026. You may want to consider a long position or call options on NDAQ as a result. In 49 of 80 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are 61%.
The Moving Average Convergence Divergence (MACD) for NDAQ just turned positive on October 09, 2026. Looking at past instances where NDAQ's MACD turned positive, the stock continued to rise in 27 of 45 cases over the following month. The odds of a continued upward trend are 60%.
The 10-day moving average for NDAQ crossed bullishly above the 50-day moving average on October 22, 2026. This indicates that the trend has shifted higher and could be considered a buy signal. In 10 of 15 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are 67%.
Following a +8.97% 3-day Advance, the price is estimated to grow further. Considering data from situations where NDAQ advanced for three days, in 224 of 356 cases, the price rose further within the following month. The odds of a continued upward trend are 63%.
Bearish Trend Analysis
The RSI Oscillator demonstrated that the stock has entered the overbought zone. This may point to a price pull-back soon.
The Stochastic Oscillator demonstrated that the ticker has stayed in the overbought zone for 3 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where NDAQ declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 51%.
NDAQ broke above its upper Bollinger Band on October 21, 2026. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
The Aroon Indicator for NDAQ entered a downward trend on September 25, 2026. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
Fundamental Analysis (Ratings)
The Tickeron Profit vs. Risk Rating rating for this company is 23 (best 1 - 100 worst), indicating low risk on high returns. The average Profit vs. Risk Rating rating for the industry is 76, placing this stock better than average.
The Tickeron Price Growth Rating for this company is 33 (best 1 - 100 worst), indicating outstanding price growth. NDAQ’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron PE Growth Rating for this company is 47 (best 1 - 100 worst), pointing to consistent earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron SMR rating for this company is 52 (best 1 - 100 worst), indicating strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Seasonality Score of 85 (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.
The Tickeron Valuation Rating of 89 (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (4.817) is normal, around the industry mean (4.019). P/E Ratio (29.855) is within average values for comparable stocks, (17.786). Projected Growth (PEG Ratio) (1.712) is also within normal values, averaging (1.780). Dividend Yield (0.012) settles around the average of (0.019) among similar stocks. P/S Ratio (5.831) is also within normal values, averaging (7.166).
RJF's RSI Oscillator climbs out of oversold territory
The RSI Oscillator for RJF moved out of oversold territory on October 20, 2026. This could be a sign that the stock is shifting from a downward trend to an upward trend. Traders may want to buy the stock or call options. The A.I.dvisor looked at 29 similar instances when the indicator left oversold territory. In 24 of the 29 cases the stock moved higher. This puts the odds of a move higher at 83%.
Technical Analysis (Indicators)
Bullish Trend Analysis
The Stochastic Oscillator suggests the stock price trend may be in a reversal from a downward trend to an upward trend. 37 of 55 cases where RJF's Stochastic Oscillator exited the oversold zone resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are 67%.
The Momentum Indicator moved above the 0 level on October 22, 2026. You may want to consider a long position or call options on RJF as a result. In 49 of 77 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are 64%.
The Moving Average Convergence Divergence (MACD) for RJF just turned positive on October 06, 2026. Looking at past instances where RJF's MACD turned positive, the stock continued to rise in 25 of 46 cases over the following month. The odds of a continued upward trend are 54%.
Following a +2.53% 3-day Advance, the price is estimated to grow further. Considering data from situations where RJF advanced for three days, in 210 of 354 cases, the price rose further within the following month. The odds of a continued upward trend are 59%.
RJF may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
Bearish Trend Analysis
Following a 3-day decline, the stock is projected to fall further. Considering past instances where RJF declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 59%.
The Aroon Indicator for RJF entered a downward trend on October 22, 2026. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
Fundamental Analysis (Ratings)
The Tickeron SMR rating for this company is 9 (best 1 - 100 worst), indicating very strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Profit vs. Risk Rating rating for this company is 29 (best 1 - 100 worst), indicating low risk on high returns. The average Profit vs. Risk Rating rating for the industry is 82, placing this stock better than average.
The Tickeron Price Growth Rating for this company is 58 (best 1 - 100 worst), indicating steady price growth. RJF’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron PE Growth Rating for this company is 63 (best 1 - 100 worst), pointing to average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Seasonality Score of 75 (best 1 - 100 worst) indicates that the company is slightly overvalued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.
The Tickeron Valuation Rating of 84 (best 1 - 100 worst) indicates that the company is slightly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (2.411) is normal, around the industry mean (2.404). P/E Ratio (13.618) is within average values for comparable stocks, (-3.413). Projected Growth (PEG Ratio) (0.791) is also within normal values, averaging (1.319). Dividend Yield (0.014) settles around the average of (0.272) among similar stocks. P/S Ratio (2.197) is also within normal values, averaging (15.798).
NDAQ | RJF | ||
|---|---|---|---|
OUTLOOK RATING 1..100 | 33 | 25 | |
VALUATION overvalued / fair valued / undervalued 1..100 | 89 Overvalued | 84 Overvalued | |
PROFIT vs RISK RATING 1..100 | 23 | 29 | |
SMR RATING 1..100 | 52 | 9 | |
PRICE GROWTH RATING 1..100 | 33 | 58 | |
P/E GROWTH RATING 1..100 | 47 | 63 | |
SEASONALITY SCORE 1..100 | 85 | 75 |
Tickeron ratings are formulated such that a rating of 1 designates the most successful stocks in a given industry, while a rating of 100 points to the least successful stocks for that industry.
RJF's Valuation (84) in the Investment Banks Or Brokers industry is in the same range as NDAQ (89). This means that RJF’s stock grew similarly to NDAQ’s over the last 12 months.
NDAQ's Profit vs Risk Rating (23) in the Investment Banks Or Brokers industry is in the same range as RJF (29). This means that NDAQ’s stock grew similarly to RJF’s over the last 12 months.
RJF's SMR Rating (9) in the Investment Banks Or Brokers industry is somewhat better than the same rating for NDAQ (52). This means that RJF’s stock grew somewhat faster than NDAQ’s over the last 12 months.
NDAQ's Price Growth Rating (33) in the Investment Banks Or Brokers industry is in the same range as RJF (58). This means that NDAQ’s stock grew similarly to RJF’s over the last 12 months.
NDAQ's P/E Growth Rating (47) in the Investment Banks Or Brokers industry is in the same range as RJF (63). This means that NDAQ’s stock grew similarly to RJF’s over the last 12 months.
| NDAQ | RJF | |
|---|---|---|
| RSI ODDS (%) | 1 day ago 56% | 1 day ago 83% |
| Stochastic ODDS (%) | 1 day ago 59% | 1 day ago 67% |
| Momentum ODDS (%) | 1 day ago 61% | 1 day ago 64% |
| MACD ODDS (%) | 1 day ago 60% | 1 day ago 54% |
| TrendWeek ODDS (%) | 1 day ago 63% | 1 day ago 64% |
| TrendMonth ODDS (%) | 1 day ago 62% | 1 day ago 60% |
| Advances ODDS (%) | 1 day ago 63% | 1 day ago 59% |
| Declines ODDS (%) | 9 days ago 51% | 4 days ago 59% |
| BollingerBands ODDS (%) | 1 day ago 53% | 1 day ago 59% |
| Aroon ODDS (%) | 1 day ago 52% | 1 day ago 59% |
Long-Term Analysis
It is best to consider a long-term outlook for a ticker by using Fundamental Analysis (FA) ratings. The rating of 1 to 100, where 1 is best and 100 is worst, is divided into thirds. The first third (a green rating of 1-33) indicates that the ticker is undervalued; the second third (a grey number between 34 and 66) means that the ticker is valued fairly; and the last third (red number of 67 to 100) reflects that the ticker is overvalued. We use an FA Score to show how many ratings show the ticker to be undervalued (green) or overvalued (red).
NDAQ’s FA Score shows that 2 FA rating(s) are green while RJF’s FA Score has 2 green FA rating(s).
- NDAQ’s FA Score: 2 green, 3 red.
- RJF’s FA Score: 2 green, 3 red.
Short-Term Analysis
It is best to consider a short-term outlook for a ticker by using Technical Analysis (TA) indicators. We use Odds of Success as the percentage of outcomes which confirm successful trade signals in the past.
If the Odds of Success (the likelihood of the continuation of a trend) for each indicator are greater than 50%, then the generated signal is confirmed. A green percentage from 90% to 51% indicates that the ticker is in a bullish trend. A red percentage from 90% - 51% indicates that the ticker is in a bearish trend. All grey percentages are below 50% and are considered not to confirm the trend signal.
NDAQ’s TA Score shows that 5 TA indicator(s) are bullish while RJF’s TA Score has 6 bullish TA indicator(s).
- NDAQ’s TA Score: 5 bullish, 5 bearish.
- RJF’s TA Score: 6 bullish, 2 bearish.
Price Growth
NDAQ (@Financial Publishing/Services) experienced а +10.48% price change this week, while RJF (@Investment Managers) price change was +1.16% for the same time period.
The average weekly price growth across all stocks in the @Financial Publishing/Services industry was +2.83%. For the same industry, the average monthly price growth was +6.23%, and the average quarterly price growth was +8.63%.
The average weekly price growth across all stocks in the @Investment Managers industry was -1.39%. For the same industry, the average monthly price growth was -5.37%, and the average quarterly price growth was -0.93%.
Reported Earning Dates
NDAQ is expected to report earnings on Feb 03, 2027.
RJF is expected to report earnings on Oct 28, 2026.
Industries' Descriptions
@Financial Publishing/Services (+2.83% weekly)The financial publishing /services sector includes companies that provide informational products and services that are of value to investors, financial/analytics professionals and other interested readers. The products include real-time stock quotes, financial news and analyses. Think S&P Global, Inc., Moody`s Corporation, Thomson-Reuters Corp and IHS Markit Ltd. Information is critical in making financial or investment decisions, and what makes this industry’s output relevant at all times, across various economic conditions.
@Investment Managers (-1.39% weekly)Investment Managers manage financial assets and other investments of clients. Management includes designing a short- or long-term strategy for buying/holding and selling of portfolio holdings. It can also include tax services and other aspects of financial planning as well. While it is perceived that the industry is faced with growing competition from robo-advisors/digital platforms and passive/ index-tracking funds, many investors still find value in actively managed in-person services that investment management companies often emphasize on. At the same time, many wealth managers are also incorporating digital initiatives/low cost options in addition to their in-person customized services. Their main sources of revenues are fees as a percentage of assets under management, in addition to a certain portion of clients’ gains from asset appreciation. BlackRock, Inc., Blackstone Group Inc and Brookfield Asset Management are some of the major investment management companies.
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NDAQ and
Correlation & Price change
A.I.dvisor indicates that over the last year, NDAQ has been closely correlated with JEF. These tickers have moved in lockstep 71% of the time. This A.I.-generated data suggests there is a high statistical probability that if NDAQ jumps, then JEF could also see price increases.
| Ticker / NAME | Correlation To NDAQ | 1D Price Change % | ||
|---|---|---|---|---|
| NDAQ | 100% | +7.47% | ||
| JEF - NDAQ | 71% Closely correlated | +1.35% | ||
| MS - NDAQ | 71% Closely correlated | -1.63% | ||
| GS - NDAQ | 70% Closely correlated | -1.48% | ||
| RJF - NDAQ | 69% Closely correlated | +2.25% | ||
| SF - NDAQ | 66% Closely correlated | +2.17% | ||
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RJF and
Correlation & Price change
A.I.dvisor indicates that over the last year, RJF has been closely correlated with SF. These tickers have moved in lockstep 87% of the time. This A.I.-generated data suggests there is a high statistical probability that if RJF jumps, then SF could also see price increases.