Nasdaq (NASDAQ:NDAQ) Price Target Cut to $88.00

Nasdaq (NASDAQ:NDAQ) had its target price decreased by analysts at Bank of America from $90.00 to $88.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. Bank of America‘s price target would suggest a potential upside of 21.01% from the stock’s previous close.

NDAQ has been the subject of a number of other research reports. TD Cowen assumed coverage on shares of Nasdaq in a research report on Thursday, September 26th. They set a “hold” rating and a $83.00 price objective for the company. Keefe, Bruyette & Woods upped their price objective on shares of Nasdaq from $76.00 to $78.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Royal Bank of Canada assumed coverage on shares of Nasdaq in a research report on Friday, September 27th. They set an “outperform” rating and a $88.00 price objective for the company. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Nasdaq from $66.00 to $72.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. Finally, The Goldman Sachs Group increased their price target on shares of Nasdaq from $77.00 to $83.00 and gave the company a “buy” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $74.40.

Nasdaq Stock Down 0.4 %

NASDAQ NDAQ traded down $0.27 on Thursday, hitting $72.72. 1,410,677 shares of the stock were exchanged, compared to its average volume of 2,908,826. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.85. Nasdaq has a fifty-two week low of $47.38 and a fifty-two week high of $74.88. The company has a market cap of $41.83 billion, a PE ratio of 38.29, a PEG ratio of 3.04 and a beta of 0.95. The company has a 50-day moving average price of $70.71 and a 200-day moving average price of $64.36.

Nasdaq (NASDAQ:NDAQ) last announced its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.05. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.13 billion. Nasdaq had a net margin of 14.43% and a return on equity of 15.45%. Nasdaq’s quarterly revenue was up 25.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.71 EPS. Sell-side analysts anticipate that Nasdaq will post 2.75 EPS for the current fiscal year.

Insider Buying and Selling at Nasdaq

In other Nasdaq news, major shareholder Seller Lp Argus sold 42,804,207 shares of the firm’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $64.58, for a total transaction of $2,764,295,688.06. Following the completion of the transaction, the insider now directly owns 42,804,207 shares in the company, valued at approximately $2,764,295,688.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Nasdaq

Several hedge funds have recently modified their holdings of NDAQ. Thoma Bravo L.P. acquired a new stake in shares of Nasdaq in the fourth quarter worth approximately $4,166,454,000. Vanguard Group Inc. boosted its position in shares of Nasdaq by 7.0% in the first quarter. Vanguard Group Inc. now owns 48,239,872 shares of the financial services provider’s stock worth $3,043,936,000 after acquiring an additional 3,173,981 shares during the last quarter. Farallon Capital Management LLC boosted its position in shares of Nasdaq by 28.4% in the first quarter. Farallon Capital Management LLC now owns 8,436,719 shares of the financial services provider’s stock worth $532,357,000 after acquiring an additional 1,866,219 shares during the last quarter. Bain Capital Public Equity Management II LLC acquired a new stake in shares of Nasdaq in the fourth quarter worth approximately $96,241,000. Finally, CANADA LIFE ASSURANCE Co boosted its position in shares of Nasdaq by 283.8% in the first quarter. CANADA LIFE ASSURANCE Co now owns 1,154,143 shares of the financial services provider’s stock worth $72,880,000 after acquiring an additional 853,414 shares during the last quarter. 72.47% of the stock is owned by institutional investors and hedge funds.

About Nasdaq

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.