Nasdaq (NASDAQ:NDAQ) Price Target Cut to $76.00

Nasdaq (NASDAQ:NDAQ) had its price objective reduced by investment analysts at Rosenblatt Securities from $82.00 to $76.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. Rosenblatt Securities’ price target would indicate a potential upside of 26.41% from the stock’s current price.

A number of other research analysts also recently issued reports on the stock. Piper Sandler raised their price target on shares of Nasdaq from $70.00 to $71.00 and gave the stock an “overweight” rating in a research report on Thursday, February 1st. Oppenheimer raised their price target on shares of Nasdaq from $65.00 to $68.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. The Goldman Sachs Group upgraded shares of Nasdaq from a “neutral” rating to a “buy” rating and set a $73.00 price target on the stock in a research report on Tuesday, March 26th. Edward Jones initiated coverage on shares of Nasdaq in a research report on Wednesday, April 3rd. They issued a “buy” rating on the stock. Finally, Morgan Stanley upgraded shares of Nasdaq from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $59.00 to $80.00 in a research report on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $66.92.

Nasdaq Price Performance

Shares of NDAQ stock opened at $60.12 on Friday. The firm has a market cap of $34.58 billion, a P/E ratio of 31.64, a P/E/G ratio of 2.76 and a beta of 0.93. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.99 and a quick ratio of 1.01. Nasdaq has a 1-year low of $46.88 and a 1-year high of $64.25. The firm has a fifty day moving average of $59.93 and a two-hundred day moving average of $56.50.

Nasdaq (NASDAQ:NDAQ) last posted its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.02). Nasdaq had a return on equity of 17.00% and a net margin of 15.98%. The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the previous year, the business posted $0.69 earnings per share. The company’s quarterly revenue was up 22.2% compared to the same quarter last year. As a group, research analysts anticipate that Nasdaq will post 2.71 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Dubai Ltd Borse sold 31,000,000 shares of Nasdaq stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $58.00, for a total value of $1,798,000,000.00. Following the transaction, the insider now owns 58,341,545 shares of the company’s stock, valued at approximately $3,383,809,610. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Bryan Everard Smith sold 7,400 shares of Nasdaq stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $62.91, for a total value of $465,534.00. Following the transaction, the executive vice president now owns 61,672 shares of the company’s stock, valued at approximately $3,879,785.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Dubai Ltd Borse sold 31,000,000 shares of Nasdaq stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $58.00, for a total transaction of $1,798,000,000.00. Following the completion of the transaction, the insider now directly owns 58,341,545 shares in the company, valued at approximately $3,383,809,610. The disclosure for this sale can be found here. 0.75% of the stock is owned by insiders.

Hedge Funds Weigh In On Nasdaq

Several hedge funds have recently made changes to their positions in the business. Foster Victor Wealth Advisors LLC grew its stake in shares of Nasdaq by 18.0% in the 1st quarter. Foster Victor Wealth Advisors LLC now owns 265,459 shares of the financial services provider’s stock worth $16,740,000 after purchasing an additional 40,551 shares during the last quarter. Securian Asset Management Inc. increased its position in shares of Nasdaq by 4.2% in the first quarter. Securian Asset Management Inc. now owns 22,407 shares of the financial services provider’s stock worth $1,414,000 after acquiring an additional 908 shares in the last quarter. SYSTM Wealth Solutions LLC increased its position in shares of Nasdaq by 23.2% in the first quarter. SYSTM Wealth Solutions LLC now owns 87,303 shares of the financial services provider’s stock worth $5,509,000 after acquiring an additional 16,455 shares in the last quarter. Tritonpoint Wealth LLC increased its position in shares of Nasdaq by 10.3% in the first quarter. Tritonpoint Wealth LLC now owns 13,046 shares of the financial services provider’s stock worth $823,000 after acquiring an additional 1,216 shares in the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in shares of Nasdaq by 1.8% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 98,215 shares of the financial services provider’s stock worth $6,197,000 after acquiring an additional 1,700 shares in the last quarter. Institutional investors and hedge funds 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.