Nasdaq (NASDAQ:NDAQ) Sets New 1-Year High – What’s Next?

Nasdaq, Inc. (NASDAQ:NDAQ) shares hit a new 52-week high on Wednesday . The company traded as high as $76.70 and last traded at $76.62, with a volume of 314977 shares traded. The stock had previously closed at $75.89.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Morgan Stanley increased their price target on shares of Nasdaq from $92.00 to $93.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Royal Bank of Canada reiterated an “outperform” rating and set a $88.00 target price on shares of Nasdaq in a research note on Friday, October 25th. The Goldman Sachs Group boosted their target price on Nasdaq from $77.00 to $83.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Raymond James raised Nasdaq from a “market perform” rating to an “outperform” rating and set a $82.00 price target for the company in a report on Monday, October 14th. Finally, TD Cowen decreased their price objective on shares of Nasdaq from $81.00 to $80.00 and set a “hold” rating on the stock in a report on Monday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $79.27.

Nasdaq Price Performance

The company’s 50-day moving average is $72.78 and its 200-day moving average is $65.91. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.84. The firm has a market cap of $43.76 billion, a price-to-earnings ratio of 45.44, a price-to-earnings-growth ratio of 3.10 and a beta of 0.95.

Nasdaq (NASDAQ:NDAQ) last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.05. Nasdaq had a return on equity of 14.56% and a net margin of 13.67%. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same quarter last year, the company posted $0.71 EPS. The company’s revenue for the quarter was up 21.9% compared to the same quarter last year. Equities research analysts predict that Nasdaq, Inc. will post 2.76 earnings per share for the current year.

Nasdaq Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.26%. Nasdaq’s dividend payout ratio (DPR) is currently 57.49%.

Hedge Funds Weigh In On Nasdaq

A number of institutional investors have recently added to or reduced their stakes in the stock. Y.D. More Investments Ltd grew its stake in shares of Nasdaq by 94.8% during the second quarter. Y.D. More Investments Ltd now owns 415 shares of the financial services provider’s stock worth $25,000 after buying an additional 202 shares during the last quarter. Hobbs Group Advisors LLC acquired a new position in Nasdaq in the 2nd quarter worth about $26,000. Catalyst Capital Advisors LLC bought a new position in Nasdaq in the third quarter valued at about $27,000. Crewe Advisors LLC boosted its stake in shares of Nasdaq by 164.4% during the second quarter. Crewe Advisors LLC now owns 505 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 314 shares in the last quarter. Finally, LRI Investments LLC bought a new stake in shares of Nasdaq during the first quarter worth about $31,000. 72.47% of the stock is currently owned by institutional investors and hedge funds.

Nasdaq Company Profile

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.