Nasdaq (NASDAQ:NDAQ) Receives “Outperform” Rating from Royal Bank of Canada

Nasdaq (NASDAQ:NDAQ)‘s stock had its “outperform” rating reissued by equities research analysts at Royal Bank of Canada in a research note issued on Tuesday,Benzinga reports. They currently have a $88.00 price objective on the financial services provider’s stock. Royal Bank of Canada’s price objective would suggest a potential upside of 10.10% from the stock’s previous close.

Several other brokerages have also recently commented on NDAQ. Bank of America dropped their price target on shares of Nasdaq from $90.00 to $88.00 and set a “buy” rating for the company in a research report on Thursday, October 3rd. Raymond James upgraded Nasdaq from a “market perform” rating to an “outperform” rating and set a $82.00 target price for the company in a research report on Monday, October 14th. Deutsche Bank Aktiengesellschaft increased their target price on Nasdaq from $78.00 to $80.00 and gave the stock a “hold” rating in a report on Monday, November 11th. The Goldman Sachs Group boosted their price target on Nasdaq from $77.00 to $83.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Finally, TD Cowen reduced their price objective on shares of Nasdaq from $81.00 to $80.00 and set a “hold” rating on the stock in a research note on Monday, October 28th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $80.87.

Nasdaq Stock Performance

Shares of Nasdaq stock traded up $0.15 during trading on Tuesday, hitting $79.93. 258,685 shares of the stock were exchanged, compared to its average volume of 2,869,006. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.84. The company has a fifty day moving average price of $74.45 and a 200-day moving average price of $67.59. The stock has a market capitalization of $45.94 billion, a price-to-earnings ratio of 47.82, a price-to-earnings-growth ratio of 3.07 and a beta of 0.95. Nasdaq has a 1-year low of $53.36 and a 1-year high of $80.77.

Nasdaq (NASDAQ:NDAQ) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.74 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 firm had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same period in the previous year, the business posted $0.71 earnings per share. The company’s revenue for the quarter was up 21.9% compared to the same quarter last year. As a group, equities analysts predict that Nasdaq will post 2.78 EPS for the current fiscal year.

Insider Activity at Nasdaq

In other Nasdaq news, EVP Jeremy Skule sold 12,000 shares of Nasdaq stock in a transaction that occurred 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 transaction, the executive vice president now owns 114,580 shares of the company’s stock, valued at $8,928,073.60. This trade represents a 9.48 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Bradley J. Peterson sold 13,642 shares of the stock in a transaction that occurred 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 $10,757,955.60. The trade was a 8.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 37,384 shares of company stock valued at $2,860,902 over the last 90 days. Insiders own 0.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP grew its position in Nasdaq by 163.3% during the third quarter. Wellington Management Group LLP now owns 38,833,510 shares of the financial services provider’s stock valued at $2,835,235,000 after buying an additional 24,084,154 shares during the period. State Street Corp grew its position in shares of Nasdaq by 11.2% during the 3rd quarter. State Street Corp now owns 17,951,698 shares of the financial services provider’s stock valued at $1,310,653,000 after acquiring an additional 1,811,616 shares during the period. Geode Capital Management LLC grew its position in shares of Nasdaq by 9.5% during the 3rd quarter. Geode Capital Management LLC now owns 10,761,240 shares of the financial services provider’s stock valued at $783,181,000 after acquiring an additional 932,665 shares during the period. Harris Associates L P raised its holdings in shares of Nasdaq by 14.6% in the 3rd quarter. Harris Associates L P now owns 8,596,022 shares of the financial services provider’s stock worth $627,596,000 after purchasing an additional 1,096,090 shares during the period. Finally, Farallon Capital Management LLC raised 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 worth $532,357,000 after purchasing an additional 1,866,219 shares during the period. Institutional investors own 72.47% of the company’s stock.

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.