TD Cowen Issues Pessimistic Forecast for Nasdaq (NASDAQ:NDAQ) Stock Price

Nasdaq (NASDAQ:NDAQ) had its price objective lowered by research analysts at TD Cowen from $108.00 to $107.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. TD Cowen’s target price points to a potential upside of 14.46% from the company’s current price.

A number of other equities analysts have also issued reports on the company. Piper Sandler reaffirmed an “overweight” rating and set a $108.00 price target (up from $104.00) on shares of Nasdaq in a research note on Friday, October 2nd. Keefe, Bruyette & Woods boosted their price objective on Nasdaq from $92.00 to $102.00 and gave the stock a “market perform” rating in a research note on Friday, July 24th. Morgan Stanley dropped their price objective on Nasdaq from $120.00 to $118.00 and set an “overweight” rating on the stock in a research note on Friday, October 9th. Wells Fargo & Company began coverage on Nasdaq in a report on Friday, October 2nd. They issued an “equal weight” rating and a $100.00 price objective for the company. Finally, Barclays reaffirmed an “overweight” rating and set a $109.00 target price (down from $111.00) on shares of Nasdaq in a research note on Wednesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $108.83.

Nasdaq Price Performance

NASDAQ NDAQ opened at $93.48 on Monday. Nasdaq has a 12 month low of $76.55 and a 12 month high of $101.79. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market capitalization of $52.25 billion, a PE ratio of 27.25, a P/E/G ratio of 1.68 and a beta of 0.99. The company’s 50 day simple moving average is $94.77 and its 200 day simple moving average is $90.45.

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

Insider Buying and Selling

In related news, EVP Bradley Peterson sold 13,000 shares of the stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $92.61, for a total transaction of $1,203,930.00. Following the completion of the sale, the executive vice president directly owned 128,293 shares of the company’s stock, valued at $11,881,214.73. This represents a 9.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nelson Griggs sold 11,010 shares of the firm’s stock in a transaction that occurred on 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 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 SEC filing for this sale provides additional information. Insiders have sold 44,047 shares of company stock worth $4,139,191 in the last ninety days. 0.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in Nasdaq in the 2nd quarter worth approximately $2,931,637,000. Bank of America Corp DE purchased a new position in Nasdaq during the 2nd quarter worth approximately $603,631,000. The Manufacturers Life Insurance Company acquired a new stake in Nasdaq during the 2nd quarter valued at $377,818,000. Legal & General Group Plc acquired a new stake in Nasdaq during the 2nd quarter valued at $220,130,000. Finally, Deutsche Bank AG acquired a new stake in Nasdaq during the 2nd quarter valued at $180,099,000. Institutional investors and hedge funds own 72.47% of the company’s stock.

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.