Nasdaq (NASDAQ:NDAQ) Price Target Cut to $98.00 by Analysts at TD Cowen

Nasdaq (NASDAQ:NDAQ) had its target price decreased by equities research analysts at TD Cowen from $104.00 to $98.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. TD Cowen’s price target points to a potential upside of 19.32% from the company’s previous close.

Several other equities research analysts also recently weighed in on NDAQ. Wall Street Zen upgraded shares of Nasdaq from a “sell” rating to a “hold” rating in a research note on Sunday, May 3rd. Weiss Ratings reissued a “buy (b)” rating on shares of Nasdaq in a report on Wednesday, April 22nd. Raymond James Financial restated an “outperform” rating and set a $109.00 target price on shares of Nasdaq in a report on Wednesday, February 25th. Barclays upped their price objective on shares of Nasdaq from $115.00 to $116.00 and gave the company an “overweight” rating in a research note on Wednesday, April 8th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Nasdaq from $92.00 to $97.00 and gave the company a “market perform” rating in a research note on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Nasdaq currently has a consensus rating of “Moderate Buy” and an average price target of $106.79.

Nasdaq Stock Down 0.1%

NASDAQ NDAQ traded down $0.10 during trading hours on Monday, hitting $82.14. 1,664,449 shares of the company were exchanged, compared to its average volume of 3,939,880. Nasdaq has a 52-week low of $77.09 and a 52-week high of $101.79. The firm has a market cap of $46.45 billion, a price-to-earnings ratio of 24.73, a PEG ratio of 1.64 and a beta of 0.97. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.71. The company has a 50 day moving average of $88.72 and a two-hundred day moving average of $89.96.

Nasdaq (NASDAQ:NDAQ) last posted its earnings results on Thursday, April 23rd. The financial services provider reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.03. The firm had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $1.42 billion. Nasdaq had a return on equity of 17.51% and a net margin of 23.15%.The firm’s revenue was up 13.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.79 earnings per share. Equities research analysts anticipate that Nasdaq will post 3.86 earnings per share for the current year.

Insider Activity at Nasdaq

In other Nasdaq news, CEO Adena T. Friedman sold 113,611 shares of the business’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $85.44, for a total transaction of $9,706,923.84. Following the completion of the sale, the chief executive officer owned 1,965,751 shares in the company, valued at $167,953,765.44. The trade was a 5.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Ab Investor purchased 56,782 shares of Nasdaq stock in a transaction dated Thursday, June 11th. The stock was acquired at an average price of $85.98 per share, for a total transaction of $4,882,116.36. Following the completion of the transaction, the insider owned 58,439,208 shares in the company, valued at approximately $5,024,603,103.84. The trade was a 0.10% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold 138,162 shares of company stock worth $11,932,913 over the last 90 days. Company insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Nasdaq

Several large investors have recently made changes to their positions in NDAQ. Vanguard Group Inc. raised its holdings in Nasdaq by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 59,916,887 shares of the financial services provider’s stock worth $5,819,727,000 after buying an additional 268,481 shares during the period. Massachusetts Financial Services Co. MA increased its position in Nasdaq by 4.8% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 27,627,767 shares of the financial services provider’s stock worth $2,683,485,000 after buying an additional 1,258,964 shares during the period. State Street Corp raised its stake in Nasdaq by 1.3% during the 4th quarter. State Street Corp now owns 19,878,600 shares of the financial services provider’s stock valued at $1,930,808,000 after purchasing an additional 259,408 shares during the last quarter. Geode Capital Management LLC lifted its position in Nasdaq by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 12,851,894 shares of the financial services provider’s stock worth $1,243,807,000 after purchasing an additional 378,577 shares during the period. Finally, Morgan Stanley raised its holdings in shares of Nasdaq by 62.6% in the 4th quarter. Morgan Stanley now owns 9,266,562 shares of the financial services provider’s stock worth $900,061,000 after buying an additional 3,567,843 shares in the last quarter. Institutional investors and hedge funds own 72.47% of the company’s stock.

About Nasdaq

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.