Barclays Lowers Nasdaq (NASDAQ:NDAQ) Price Target to $108.00

Nasdaq (NASDAQ:NDAQ) had its price objective lowered by equities research analysts at Barclays from $114.00 to $108.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. Barclays‘s price objective would indicate a potential upside of 22.62% from the stock’s previous close.

NDAQ has been the subject of a number of other reports. Rothschild & Co Redburn set a $110.00 price objective on Nasdaq in a report on Thursday, June 11th. Keefe, Bruyette & Woods raised their price target on Nasdaq from $92.00 to $97.00 and gave the company a “market perform” rating in a research note on Friday, April 24th. TD Cowen decreased their target price on shares of Nasdaq from $104.00 to $98.00 and set a “buy” rating for the company in a research note on Monday, June 22nd. Loop Capital set a $113.00 target price on shares of Nasdaq in a report on Friday, April 24th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Nasdaq in a research note on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Nasdaq currently has an average rating of “Buy” and an average price target of $106.92.

Nasdaq Price Performance

Nasdaq stock opened at $88.08 on Thursday. The firm has a market capitalization of $49.81 billion, a P/E ratio of 26.53, a PEG ratio of 1.74 and a beta of 0.99. The business has a 50-day moving average of $87.20 and a 200-day moving average of $89.01. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.71. Nasdaq has a 1 year low of $76.55 and a 1 year high of $101.79.

Nasdaq (NASDAQ:NDAQ) last released its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.03. Nasdaq had a return on equity of 17.51% and a net margin of 23.15%.The business had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter in the previous year, the business posted $0.79 EPS. Nasdaq’s revenue for the quarter was up 13.7% on a year-over-year basis. On average, equities analysts anticipate that Nasdaq will post 3.89 EPS for the current year.

Insider Buying and Selling at Nasdaq

In other Nasdaq news, major shareholder Ab Investor purchased 56,782 shares of the business’s stock in a transaction dated Thursday, June 11th. The shares were bought at an average price of $85.98 per share, for a total transaction of $4,882,116.36. Following the completion of the acquisition, the insider owned 58,439,208 shares in the company, valued at approximately $5,024,603,103.84. This trade represents a 0.10% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Michelle Lynn Daly sold 1,323 shares of the company’s stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $88.82, for a total value of $117,508.86. Following the completion of the sale, the senior vice president owned 10,089 shares in the company, valued at $896,104.98. The trade was a 11.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 24,551 shares of company stock valued at $2,225,990. 0.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Nasdaq

A number of large investors have recently bought and sold shares of the stock. MV Capital Management Inc. acquired a new stake in Nasdaq in the fourth quarter valued at approximately $28,000. SOA Wealth Advisors LLC. acquired a new position in Nasdaq during the 4th quarter valued at about $34,000. Nemes Rush Group LLC bought a new stake in Nasdaq during the 4th quarter worth approximately $35,000. Uniplan Investment Counsel Inc. bought a new position in shares of Nasdaq in the fourth quarter valued at approximately $35,000. Finally, Fideuram Asset Management Ireland dac bought a new stake in Nasdaq during the fourth quarter worth $37,000. 72.47% of the stock is currently owned by institutional investors and hedge funds.

About Nasdaq

Nasdaq, Inc is a global financial technology company that operates one of the world’s leading electronic securities exchanges and provides a broad array of products and services to capital markets participants. Its core activities include operating the Nasdaq Stock Market and other trading venues, developing and supplying market technology and matching engines to exchanges and trading firms, licensing market data and indices, and offering clearing, trade execution and post-trade solutions. The company also provides market surveillance, risk management and regulatory technology used by exchanges and regulators.

Founded in 1971 by the National Association of Securities Dealers (NASD) as the first electronic stock market, Nasdaq has evolved into a diversified marketplace and technology provider.