Nasdaq (NASDAQ:NDAQ) Price Target Raised to $84.00

Nasdaq (NASDAQ:NDAQ) had its price target increased by Oppenheimer from $80.00 to $84.00 in a research note issued on Monday, Benzinga reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Oppenheimer’s target price would indicate a potential upside of 15.43% from the stock’s previous close.

NDAQ has been the subject of a number of other reports. Piper Sandler boosted their price objective on Nasdaq from $73.00 to $80.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Raymond James upgraded Nasdaq from a “market perform” rating to an “outperform” rating and set a $82.00 price target for the company in a research report on Monday. Royal Bank of Canada reiterated an “outperform” rating and set a $88.00 price target on shares of Nasdaq in a research report on Tuesday, October 8th. Bank of America dropped their price target on Nasdaq from $90.00 to $88.00 and set a “buy” rating for the company in a research report on Thursday, October 3rd. Finally, Barclays boosted their price target on Nasdaq from $77.00 to $84.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, Nasdaq presently has a consensus rating of “Moderate Buy” and a consensus price target of $77.31.

Nasdaq Stock Performance

NASDAQ:NDAQ traded up $1.15 during trading hours on Monday, reaching $72.77. The company had a trading volume of 719,648 shares, compared to its average volume of 2,902,813. The firm has a market cap of $41.86 billion, a PE ratio of 38.30, a price-to-earnings-growth ratio of 2.99 and a beta of 0.95. Nasdaq has a 1-year low of $47.56 and a 1-year high of $74.88. The business’s 50 day moving average price is $71.33 and its 200-day moving average price is $64.89. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.94 and a quick ratio of 0.94.

Nasdaq (NASDAQ:NDAQ) last posted its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.05. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Nasdaq had a return on equity of 15.45% and a net margin of 14.43%. The business’s revenue was up 25.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.71 earnings per share. Research analysts forecast that Nasdaq will post 2.75 EPS for the current year.

Insider Activity

In other news, major shareholder Seller Lp Argus sold 42,804,207 shares of the company’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $64.58, for a total value of $2,764,295,688.06. Following the transaction, the insider now owns 42,804,207 shares of the company’s stock, valued at $2,764,295,688.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.70% of the company’s stock.

Hedge Funds Weigh In On Nasdaq

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Nasdaq by 7.0% during the 1st quarter. Vanguard Group Inc. now owns 48,239,872 shares of the financial services provider’s stock worth $3,043,936,000 after acquiring an additional 3,173,981 shares in the last quarter. Farallon Capital Management LLC raised its position in Nasdaq by 28.4% in the 1st quarter. Farallon Capital Management LLC now owns 8,436,719 shares of the financial services provider’s stock valued at $532,357,000 after purchasing an additional 1,866,219 shares in the last quarter. Diamond Hill Capital Management Inc. raised its position in Nasdaq by 2.0% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 4,767,175 shares of the financial services provider’s stock valued at $287,270,000 after purchasing an additional 94,122 shares in the last quarter. Bessemer Group Inc. raised its position in Nasdaq by 26.5% in the 1st quarter. Bessemer Group Inc. now owns 2,878,115 shares of the financial services provider’s stock valued at $181,609,000 after purchasing an additional 602,040 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in Nasdaq by 3.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,443,939 shares of the financial services provider’s stock valued at $147,272,000 after purchasing an additional 82,606 shares in the last quarter. Institutional investors and hedge funds 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.