Nasdaq (NASDAQ:NDAQ) Price Target Cut to $74.00

Nasdaq (NASDAQ:NDAQ) had its target price lowered by analysts at Keefe, Bruyette & Woods from $75.00 to $74.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target suggests a potential upside of 23.99% from the stock’s current price.

NDAQ has been the topic of a number of other research reports. The Goldman Sachs Group raised shares of Nasdaq from a “neutral” rating to a “buy” rating and set a $73.00 target price on the stock in a research report on Tuesday, March 26th. Rosenblatt Securities dropped their target price on shares of Nasdaq from $82.00 to $76.00 and set a “buy” rating on the stock in a research report on Friday. Morgan Stanley raised shares of Nasdaq from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $59.00 to $80.00 in a research report on Tuesday, April 9th. Citigroup boosted their target price on shares of Nasdaq from $56.00 to $63.00 and gave the stock a “neutral” rating in a research report on Friday, January 12th. Finally, Piper Sandler boosted their price target on shares of Nasdaq from $70.00 to $71.00 and gave the company an “overweight” rating in a report on Thursday, February 1st. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Nasdaq has a consensus rating of “Moderate Buy” and an average price target of $66.92.

Nasdaq Stock Performance

Shares of Nasdaq stock traded down $0.61 on Friday, reaching $59.68. The stock had a trading volume of 1,248,221 shares, compared to its average volume of 3,131,431. The business’s 50-day moving average price is $59.84 and its two-hundred day moving average price is $56.39. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.01 and a current ratio of 1.01. Nasdaq has a fifty-two week low of $46.88 and a fifty-two week high of $64.25. The stock has a market cap of $34.33 billion, a P/E ratio of 28.25, a price-to-earnings-growth ratio of 2.82 and a beta of 0.93.

Nasdaq (NASDAQ:NDAQ) last issued its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.63 earnings per share 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 firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same quarter in the previous year, the firm posted $0.69 earnings per share. Nasdaq’s quarterly revenue was up 22.2% compared to the same quarter last year. On average, sell-side analysts forecast that Nasdaq will post 2.75 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder Dubai Ltd Borse sold 31,000,000 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 58,341,545 shares in the company, valued at approximately $3,383,809,610. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Nasdaq news, major shareholder Dubai Ltd Borse sold 31,000,000 shares of the company’s stock in a transaction dated 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 transaction, the insider now directly owns 58,341,545 shares in the company, valued at approximately $3,383,809,610. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Bryan Everard Smith sold 7,400 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $62.91, for a total transaction of $465,534.00. Following the transaction, the executive vice president now owns 61,672 shares in the company, valued at $3,879,785.52. The disclosure for this sale can be found here. 0.75% of the stock is owned by corporate insiders.

Institutional Trading of Nasdaq

Hedge funds have recently modified their holdings of the company. Thoma Bravo L.P. acquired a new stake in shares of Nasdaq in the 4th quarter valued at approximately $4,166,454,000. The Manufacturers Life Insurance Company boosted 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 buying an additional 4,280,846 shares during the last quarter. Norges Bank acquired a new stake in shares of Nasdaq in the 4th quarter valued at approximately $239,347,000. Bain Capital Public Equity Management II LLC acquired a new stake in shares of Nasdaq in the 4th quarter valued at approximately $96,241,000. Finally, Vanguard Group Inc. boosted its holdings in shares of Nasdaq by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 45,065,891 shares of the financial services provider’s stock valued at $2,620,131,000 after buying an additional 745,965 shares during the last quarter. 72.47% of the stock is currently 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.