Nasdaq (NASDAQ:NDAQ) Stock Rating Upgraded by TD Cowen

Nasdaq (NASDAQ:NDAQ) was upgraded by investment analysts at TD Cowen from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday,Finviz reports. The firm currently has a $106.00 target price on the financial services provider’s stock. TD Cowen’s price objective would suggest a potential upside of 26.21% from the stock’s current price.

A number of other analysts have also commented on the company. Royal Bank Of Canada reissued an “outperform” rating and issued a $108.00 target price on shares of Nasdaq in a report on Friday, January 30th. Argus upgraded Nasdaq to a “strong-buy” rating in a report on Wednesday, February 11th. Raymond James Financial restated an “outperform” rating and set a $109.00 target price on shares of Nasdaq in a research note on Wednesday. UBS Group reiterated a “buy” rating and issued a $120.00 price target (up from $115.00) on shares of Nasdaq in a research note on Monday, January 12th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Nasdaq in a report on Friday, January 9th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, Nasdaq presently has an average rating of “Buy” and an average price target of $103.80.

Nasdaq Stock Performance

Shares of Nasdaq stock opened at $83.99 on Thursday. Nasdaq has a 1 year low of $64.84 and a 1 year high of $101.79. The firm’s 50-day moving average is $93.07 and its 200 day moving average is $91.35. The stock has a market cap of $47.74 billion, a price-to-earnings ratio of 27.18, a PEG ratio of 1.33 and a beta of 1.02. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.01 and a quick ratio of 1.01.

Nasdaq (NASDAQ:NDAQ) last issued its earnings results on Thursday, January 29th. The financial services provider reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.04. Nasdaq had a net margin of 21.77% and a return on equity of 16.90%. The business had revenue of $2.12 billion during the quarter, compared to analysts’ expectations of $1.37 billion. During the same period in the previous year, the company earned $0.76 earnings per share. The business’s revenue for the quarter was up 13.4% compared to the same quarter last year. Sell-side analysts anticipate that Nasdaq will post 3.18 EPS for the current fiscal year.

Insider Activity

In related news, EVP John Zecca sold 4,500 shares of the business’s stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $100.01, for a total transaction of $450,045.00. Following the completion of the transaction, the executive vice president directly owned 125,674 shares in the company, valued at approximately $12,568,656.74. The trade was a 3.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Adena T. Friedman sold 300,000 shares of the stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $96.91, for a total transaction of $29,073,000.00. Following the completion of the sale, the chief executive officer directly owned 1,924,903 shares of the company’s stock, valued at $186,542,349.73. This represents a 13.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 604,500 shares of company stock valued at $58,440,045 in the last three months. 0.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Nasdaq

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Front Row Advisors LLC bought a new position in Nasdaq during the second quarter valued at $25,000. Twin Peaks Wealth Advisors LLC purchased a new position in Nasdaq in the second quarter worth about $27,000. Tripletail Wealth Management LLC bought a new stake in Nasdaq during the third quarter worth approximately $27,000. Access Investment Management LLC purchased a new stake in Nasdaq during the second quarter valued at approximately $28,000. Finally, Westside Investment Management Inc. lifted its stake in shares of Nasdaq by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 318 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 159 shares during the last quarter. Institutional investors own 72.47% of the company’s stock.

Nasdaq Company Profile

Nasdaq, Inc is a global financial technology company that operates one of the world’s leading electronic securities exchanges and provides a broad array of products and services to capital markets participants. Its core activities include operating the Nasdaq Stock Market and other trading venues, developing and supplying market technology and matching engines to exchanges and trading firms, licensing market data and indices, and offering clearing, trade execution and post-trade solutions. The company also provides market surveillance, risk management and regulatory technology used by exchanges and regulators.

Founded in 1971 by the National Association of Securities Dealers (NASD) as the first electronic stock market, Nasdaq has evolved into a diversified marketplace and technology provider.