Nasdaq, Inc. (NASDAQ:NDAQ) Stock Has Average Price Target of $108.83

Shares of Nasdaq, Inc. (NASDAQ:NDAQ) have been assigned a consensus rating of “Moderate Buy” from the nineteen brokerages that are currently covering the firm, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation, twelve have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $108.83.

A number of brokerages recently weighed in on NDAQ. Bank of America lowered their price objective on shares of Nasdaq from $135.00 to $132.00 and set a “buy” rating for the company in a research report on Friday, October 2nd. Barclays reissued an “overweight” rating and issued a $109.00 target price (down from $111.00) on shares of Nasdaq in a report on Wednesday, October 7th. TD Cowen decreased their target price on Nasdaq from $108.00 to $107.00 and set a “buy” rating for the company in a research note on Monday, October 12th. Zacks Research lowered Nasdaq from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 21st. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Nasdaq in a report on Monday, July 20th.

Nasdaq Stock Performance

Nasdaq stock traded up $0.47 during mid-day trading on Friday, reaching $93.97. The company’s stock had a trading volume of 2,643,767 shares, compared to its average volume of 3,219,736. The firm has a market cap of $52.53 billion, a price-to-earnings ratio of 27.40, a PEG ratio of 1.67 and a beta of 0.99. The business has a 50 day moving average price of $94.68 and a 200-day moving average price of $90.61. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.71. Nasdaq has a twelve month low of $76.55 and a twelve month high of $101.79.

Nasdaq (NASDAQ:NDAQ) last issued its earnings results on Thursday, July 23rd. The financial services provider reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.09. Nasdaq had a net margin of 22.60% and a return on equity of 18.38%. The company had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same period in the prior year, the company earned $0.85 earnings per share. The firm’s revenue was up 14.9% compared to the same quarter last year. Sell-side analysts predict that Nasdaq will post 4.13 EPS for the current fiscal year.

Nasdaq Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Friday, September 11th were paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Friday, September 11th. Nasdaq’s payout ratio is presently 36.15%.

Key Nasdaq News

Here are the key news stories impacting Nasdaq this week:

• Positive Sentiment: Nasdaq completed its acquisition of LeveL Markets, one of the largest U.S. alternative trading systems. The deal expands Nasdaq’s trading and liquidity infrastructure and supports its strategy of enabling more continuous, global market access. Nasdaq Completes Acquisition of LeveL Markets
• Positive Sentiment: Analyst sentiment remains favorable. Bank of America maintained a Buy rating, while J.P. Morgan also rates the shares Buy. Deutsche Bank recently raised its price target to $116, and the broader analyst consensus is Moderate Buy with an average target of about $108.83. Bank of America Buy Rating
• Positive Sentiment: Nasdaq is expected to report earnings next week, with analysts anticipating year-over-year growth and potential for another earnings beat. Industry tailwinds include rising crypto adoption, technology investment and growth in recurring, non-trading revenue. Nasdaq Earnings Preview

Insiders Place Their Bets

In related news, EVP Bradley J. Peterson sold 13,000 shares of the firm’s stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $92.61, for a total value of $1,203,930.00. Following the sale, the executive vice president directly owned 128,293 shares in the company, valued at $11,881,214.73. This trade represents a 9.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Nelson Griggs sold 11,010 shares of Nasdaq stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $96.35, for a total value of $1,060,813.50. Following the sale, the insider directly owned 205,001 shares in the company, valued at $19,751,846.35. The trade was a 5.10% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 45,172 shares of company stock worth $4,245,088. Insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Nasdaq

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Daiichi Life Insurance Co. Ltd. purchased a new stake in Nasdaq during the second quarter valued at about $1,236,000. Munich Reinsurance Co Stock Corp in Munich lifted its stake in Nasdaq by 3.0% in the second quarter. Munich Reinsurance Co Stock Corp in Munich now owns 889,447 shares of the financial services provider’s stock valued at $70,106,000 after acquiring an additional 25,524 shares during the last quarter. Tandem Investment Advisors Inc. acquired a new stake in Nasdaq in the first quarter valued at approximately $13,891,000. Lombard Odier Asset Management Europe Ltd grew its position in Nasdaq by 31.4% in the first quarter. Lombard Odier Asset Management Europe Ltd now owns 47,298 shares of the financial services provider’s stock worth $4,015,000 after acquiring an additional 11,298 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its position in Nasdaq by 4,198.8% in the first quarter. Arrowstreet Capital Limited Partnership now owns 229,556 shares of the financial services provider’s stock worth $19,487,000 after acquiring an additional 224,216 shares in the last quarter. Institutional investors own 72.47% of the company’s stock.

About Nasdaq

Nasdaq, Inc is a global financial technology, market infrastructure and exchange company headquartered in New York City. The company operates Nasdaq stock exchanges in the United States and provides trading, clearing, settlement, listing and market data services. Through its Nordic and Baltic operations, Nasdaq also serves financial markets across Northern Europe.

Nasdaq’s business includes exchange and market services, index development, investment intelligence, and technology solutions for exchanges, brokers, banks, asset managers and other financial institutions.