Nasdaq (NASDAQ:NDAQ) Price Target Raised to $116.00

Nasdaq (NASDAQ:NDAQ) had its target price boosted by Deutsche Bank Aktiengesellschaft from $115.00 to $116.00 in a research note issued to investors on Monday. The firm currently has a “buy” rating on the financial services provider’s stock. Deutsche Bank Aktiengesellschaft’s price target suggests a potential upside of 23.69% from the stock’s current price.

NDAQ has been the topic of several other research reports. Piper Sandler reissued an “overweight” rating and set a $108.00 price objective (up from $104.00) on shares of Nasdaq in a research note on Friday, October 2nd. Weiss Ratings reissued a “buy (b)” rating on shares of Nasdaq in a report on Monday, July 20th. Raymond James Financial restated an “outperform” rating on shares of Nasdaq in a research note on Thursday. Keefe, Bruyette & Woods lifted their target price on Nasdaq from $92.00 to $102.00 and gave the company a “market perform” rating in a research report on Friday, July 24th. Finally, Wells Fargo & Company initiated coverage on shares of Nasdaq in a report on Friday, October 2nd. They issued an “equal weight” rating and a $100.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Nasdaq currently has a consensus rating of “Moderate Buy” and an average target price of $110.47.

Nasdaq Price Performance

NDAQ traded down $0.51 during midday trading on Monday, hitting $93.78. The stock had a trading volume of 750,509 shares, compared to its average volume of 3,787,797. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.01 and a current ratio of 1.01. Nasdaq has a 1 year low of $76.55 and a 1 year high of $101.79. The company has a market cap of $52.42 billion, a P/E ratio of 27.35, a price-to-earnings-growth ratio of 1.67 and a beta of 0.99. The business has a fifty day moving average of $94.77 and a 200 day moving average of $90.38.

Nasdaq (NASDAQ:NDAQ) last announced its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.09. Nasdaq had a return on equity of 18.38% and a net margin of 22.60%. The company had revenue of $2.53 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same quarter last year, the firm posted $0.85 earnings per share. The firm’s revenue was up 14.9% on a year-over-year basis. As a group, equities analysts forecast that Nasdaq will post 4.13 earnings per share for the current fiscal year.

Insider Activity at Nasdaq

In related news, insider Nelson Griggs sold 11,010 shares of Nasdaq stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $96.35, for a total transaction of $1,060,813.50. Following the completion of the sale, the insider owned 205,001 shares of the company’s stock, valued at $19,751,846.35. The trade was a 5.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Jeremy Skule sold 1,125 shares of the company’s stock in a transaction that occurred on Tuesday, September 22nd. The stock was sold at an average price of $95.00, for a total value of $106,875.00. Following the completion of the sale, the executive vice president owned 100,073 shares in the company, valued at approximately $9,506,935. This represents a 1.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 44,047 shares of company stock valued at $4,139,191 in the last ninety days. Company insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new stake in shares of Nasdaq in the 2nd quarter valued at approximately $2,931,637,000. Bank of America Corp DE purchased a new position in shares of Nasdaq in the 2nd quarter valued at about $603,631,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Nasdaq in the 2nd quarter valued at approximately $377,818,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Nasdaq by 4.8% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,884,101 shares of the financial services provider’s stock valued at $306,145,000 after buying an additional 177,114 shares in the last quarter. Finally, Amundi boosted its holdings in Nasdaq by 19.6% in the first quarter. Amundi now owns 2,910,390 shares of the financial services provider’s stock valued at $247,063,000 after purchasing an additional 476,913 shares in the last quarter. 72.47% of the stock is currently owned by institutional investors and hedge funds.

Nasdaq Company Profile

Nasdaq, Inc is a global financial technology, market infrastructure and exchange company headquartered in New York City. The company operates Nasdaq stock exchanges in the United States and provides trading, clearing, settlement, listing and market data services. Through its Nordic and Baltic operations, Nasdaq also serves financial markets across Northern Europe.

Nasdaq’s business includes exchange and market services, index development, investment intelligence, and technology solutions for exchanges, brokers, banks, asset managers and other financial institutions.