Citigroup Raises Nasdaq (NASDAQ:NDAQ) Price Target to $84.00

Nasdaq (NASDAQ:NDAQ) had its price target hoisted by equities researchers at Citigroup from $78.00 to $84.00 in a report issued on Friday,Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. Citigroup’s price objective would indicate a potential upside of 10.70% from the stock’s previous close.

Several other analysts have also recently weighed in on the stock. TD Cowen dropped their price objective on shares of Nasdaq from $81.00 to $80.00 and set a “hold” rating for the company in a research note on Monday, October 28th. Keefe, Bruyette & Woods lifted their price objective on shares of Nasdaq from $86.00 to $91.00 and gave the stock an “outperform” rating in a research note on Friday, December 20th. Barclays lifted their price objective on shares of Nasdaq from $87.00 to $97.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. StockNews.com upgraded shares of Nasdaq from a “sell” rating to a “hold” rating in a research report on Saturday, December 14th. Finally, Piper Sandler boosted their target price on shares of Nasdaq from $73.00 to $80.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $85.60.

Nasdaq Stock Performance

NASDAQ NDAQ opened at $75.88 on Friday. The firm has a 50-day moving average of $79.26 and a 200-day moving average of $72.80. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.95 and a current ratio of 0.95. The stock has a market cap of $43.61 billion, a PE ratio of 45.44, a P/E/G ratio of 3.12 and a beta of 0.98. Nasdaq has a 52-week low of $54.90 and a 52-week high of $83.77.

Nasdaq (NASDAQ:NDAQ) last posted its earnings results on Thursday, October 24th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.05. Nasdaq had a net margin of 13.67% and a return on equity of 14.56%. The company had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter last year, the company posted $0.71 EPS. Nasdaq’s quarterly revenue was up 21.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Nasdaq will post 2.79 EPS for the current year.

Insider Activity at Nasdaq

In other news, EVP Bradley J. Peterson sold 13,642 shares of the company’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $75.32, for a total value of $1,027,515.44. Following the sale, the executive vice president now directly owns 142,830 shares of the company’s stock, valued at approximately $10,757,955.60. This represents a 8.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Jeremy Skule sold 12,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $77.92, for a total transaction of $935,040.00. Following the completion of the sale, the executive vice president now directly owns 114,580 shares in the company, valued at approximately $8,928,073.60. This represents a 9.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 49,459 shares of company stock valued at $3,811,808. 0.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Nasdaq

Institutional investors have recently modified their holdings of the company. Citizens Financial Group Inc. RI lifted its position in shares of Nasdaq by 3.6% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 3,975 shares of the financial services provider’s stock valued at $290,000 after acquiring an additional 137 shares during the period. First Pacific Financial raised its holdings in Nasdaq by 1.0% during the third quarter. First Pacific Financial now owns 13,842 shares of the financial services provider’s stock worth $1,011,000 after buying an additional 142 shares during the last quarter. Harbor Capital Advisors Inc. raised its holdings in Nasdaq by 1.5% during the fourth quarter. Harbor Capital Advisors Inc. now owns 9,818 shares of the financial services provider’s stock worth $759,000 after buying an additional 148 shares during the last quarter. Crestwood Advisors Group LLC grew its stake in shares of Nasdaq by 4.2% in the 3rd quarter. Crestwood Advisors Group LLC now owns 3,670 shares of the financial services provider’s stock worth $268,000 after acquiring an additional 149 shares in the last quarter. Finally, Kentucky Retirement Systems grew its stake in shares of Nasdaq by 0.5% in the 3rd quarter. Kentucky Retirement Systems now owns 28,828 shares of the financial services provider’s stock worth $2,105,000 after acquiring an additional 154 shares in the last quarter. 72.47% of the stock is owned by 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.