Nasdaq (NASDAQ:NDAQ) Price Target Cut to $73.00

Nasdaq (NASDAQ:NDAQ) had its price target reduced by equities research analysts at Barclays from $76.00 to $73.00 in a report released on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Barclays‘s price target would indicate a potential upside of 21.42% from the company’s previous close.

NDAQ has been the subject of several other research reports. Oppenheimer raised their target price on Nasdaq from $65.00 to $68.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. The Goldman Sachs Group upgraded Nasdaq from a “neutral” rating to a “buy” rating and set a $73.00 target price for the company in a research note on Tuesday, March 26th. Citigroup raised their target price on Nasdaq from $56.00 to $63.00 and gave the stock a “neutral” rating in a research note on Friday, January 12th. StockNews.com upgraded Nasdaq from a “sell” rating to a “hold” rating in a research note on Wednesday, March 27th. Finally, Piper Sandler raised their target price on Nasdaq from $70.00 to $71.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Nasdaq currently has an average rating of “Moderate Buy” and an average price target of $66.92.

Nasdaq Trading Down 0.3 %

Shares of NDAQ opened at $60.12 on Friday. The business has a 50-day moving average of $59.93 and a 200 day moving average of $56.50. Nasdaq has a fifty-two week low of $46.88 and a fifty-two week high of $64.25. The firm has a market cap of $34.58 billion, a P/E ratio of 31.64, a price-to-earnings-growth ratio of 2.76 and a beta of 0.93. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.01 and a current ratio of 0.99.

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

Insider Activity

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

Institutional Trading of Nasdaq

Hedge funds have recently bought and sold shares of the company. Salem Investment Counselors Inc. increased its stake in Nasdaq by 89.3% in the 1st quarter. Salem Investment Counselors Inc. now owns 426 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 201 shares during the period. Turtle Creek Wealth Advisors LLC purchased a new position in Nasdaq in the 4th quarter worth approximately $29,000. Loomis Sayles & Co. L P purchased a new position in Nasdaq in the 3rd quarter worth approximately $26,000. Carmel Capital Partners LLC purchased a new position in Nasdaq in the 3rd quarter worth approximately $32,000. Finally, Allworth Financial LP increased its stake in Nasdaq by 74.9% in the 4th quarter. Allworth Financial LP now owns 815 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 349 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.