Nasdaq (NASDAQ:NDAQ) PT Lowered to $73.00

Nasdaq (NASDAQ:NDAQ) had its price objective reduced by equities research analysts at Barclays from $76.00 to $73.00 in a research report issued on Friday, Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Barclays‘s price target indicates a potential upside of 21.63% from the company’s previous close.

Several other research firms have also recently weighed in on NDAQ. StockNews.com raised Nasdaq from a “sell” rating to a “hold” rating in a research report on Wednesday, March 27th. Oppenheimer upped their price objective on shares of Nasdaq from $65.00 to $68.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. Morgan Stanley upgraded shares of Nasdaq from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $59.00 to $80.00 in a research note on Tuesday, April 9th. Rosenblatt Securities lowered their price objective on Nasdaq from $82.00 to $76.00 and set a “buy” rating on the stock in a research note on Friday. Finally, Piper Sandler boosted their price target on Nasdaq from $70.00 to $71.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $66.92.

Nasdaq Stock Performance

Shares of Nasdaq stock traded down $0.27 on Friday, reaching $60.02. The stock had a trading volume of 1,779,780 shares, compared to its average volume of 3,131,431. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.01 and a current ratio of 1.01. The business’s 50-day moving average price is $59.84 and its two-hundred day moving average price is $56.39. The stock has a market cap of $34.52 billion, a P/E ratio of 28.25, a price-to-earnings-growth ratio of 2.82 and a beta of 0.93. Nasdaq has a fifty-two week low of $46.88 and a fifty-two week high of $64.25.

Nasdaq (NASDAQ:NDAQ) last posted its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.02). Nasdaq had a return on equity of 19.28% and a net margin of 17.48%. The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the previous year, the firm posted $0.69 earnings per share. The company’s revenue for the quarter was up 22.2% on a year-over-year basis. On average, sell-side analysts forecast that Nasdaq will post 2.75 EPS for the current year.

Insider Activity

In related news, major shareholder Dubai Ltd Borse sold 31,000,000 shares of Nasdaq stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $58.00, for a total value of $1,798,000,000.00. Following the completion of the sale, the insider now directly owns 58,341,545 shares in the company, valued at $3,383,809,610. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Nasdaq news, major shareholder Dubai Ltd Borse sold 31,000,000 shares of Nasdaq stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $58.00, for a total transaction of $1,798,000,000.00. Following the completion of the sale, the insider now owns 58,341,545 shares of the company’s stock, valued at approximately $3,383,809,610. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Bryan Everard Smith sold 7,400 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $62.91, for a total value of $465,534.00. Following the completion of the transaction, the executive vice president now directly owns 61,672 shares in the company, valued at approximately $3,879,785.52. The disclosure for this sale can be found here. 0.75% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Nasdaq

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Thoma Bravo L.P. bought a new stake in Nasdaq during the fourth quarter worth $4,166,454,000. The Manufacturers Life Insurance Company raised its holdings in shares of Nasdaq by 214.0% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 6,281,617 shares of the financial services provider’s stock valued at $305,224,000 after purchasing an additional 4,280,846 shares during the period. Norges Bank acquired a new stake in Nasdaq in the 4th quarter valued at about $239,347,000. Bain Capital Public Equity Management II LLC bought a new position in Nasdaq during the fourth quarter worth about $96,241,000. Finally, Vanguard Group Inc. grew its holdings in Nasdaq by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 45,065,891 shares of the financial services provider’s stock worth $2,620,131,000 after purchasing an additional 745,965 shares during the period. 72.47% of the stock is owned by institutional investors and hedge funds.

Nasdaq Company Profile

Nasdaq, Inc operates as a technology company that serves capital markets and other industries worldwide. It operates in three segments: Capital Access Platforms, Financial Technology, and Market Services. The Capital Access Platforms segment sells and distributes historical and real-time market data; and develops and licenses Nasdaq-branded indices and financial products.