Nasdaq (NASDAQ:NDAQ) PT Raised to $83.00

Nasdaq (NASDAQ:NDAQ) had its target price hoisted by equities researchers at The Goldman Sachs Group from $77.00 to $83.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the financial services provider’s stock. The Goldman Sachs Group’s price target points to a potential upside of 14.00% from the stock’s current price.

Several other brokerages have also recently weighed in on NDAQ. 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 target on the stock. Keefe, Bruyette & Woods boosted their target price on shares of Nasdaq from $76.00 to $78.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Bank of America upgraded shares of Nasdaq from an “underperform” rating to a “buy” rating and raised their price target for the stock from $53.00 to $90.00 in a report on Wednesday, September 4th. Oppenheimer upped their price objective on Nasdaq from $78.00 to $80.00 and gave the company an “outperform” rating in a report on Monday, September 9th. Finally, TD Cowen began coverage on Nasdaq in a research note on Thursday, September 26th. They set a “hold” rating and a $83.00 target price for the company. One analyst has rated the stock with a sell rating, five have given a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $74.53.

Nasdaq Price Performance

NASDAQ:NDAQ traded down $0.18 during trading hours on Thursday, reaching $72.81. 1,124,247 shares of the company were exchanged, compared to its average volume of 2,907,620. Nasdaq has a twelve month low of $47.38 and a twelve month high of $74.88. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.85. The stock’s 50-day moving average is $70.71 and its 200-day moving average is $64.36. The firm has a market cap of $41.88 billion, a PE ratio of 38.32, a price-to-earnings-growth ratio of 3.04 and a beta of 0.95.

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

Insider Transactions at Nasdaq

In related news, major shareholder Seller Lp Argus sold 42,804,207 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $64.58, for a total transaction of $2,764,295,688.06. Following the transaction, the insider now owns 42,804,207 shares in the company, valued at approximately $2,764,295,688.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of NDAQ. Thoma Bravo L.P. acquired a new stake in Nasdaq in the fourth quarter valued at about $4,166,454,000. Vanguard Group Inc. lifted its holdings in shares of Nasdaq by 7.0% in the 1st quarter. Vanguard Group Inc. now owns 48,239,872 shares of the financial services provider’s stock valued at $3,043,936,000 after buying an additional 3,173,981 shares during the period. Farallon Capital Management LLC lifted its holdings in shares of Nasdaq by 28.4% in the 1st quarter. Farallon Capital Management LLC now owns 8,436,719 shares of the financial services provider’s stock valued at $532,357,000 after buying an additional 1,866,219 shares during the period. Diamond Hill Capital Management Inc. boosted its stake in shares of Nasdaq by 2.0% in the second quarter. Diamond Hill Capital Management Inc. now owns 4,767,175 shares of the financial services provider’s stock valued at $287,270,000 after buying an additional 94,122 shares in the last quarter. Finally, Bessemer Group Inc. grew its holdings in Nasdaq by 26.5% during the first quarter. Bessemer Group Inc. now owns 2,878,115 shares of the financial services provider’s stock worth $181,609,000 after acquiring an additional 602,040 shares during the period. 72.47% of the stock is currently owned by hedge funds and other institutional investors.

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.