Nasdaq, Inc. (NASDAQ:NDAQ) had its target price raised by investment analysts at Citigroup Inc. from $75.00 to $82.00 in a report issued on Thursday. The brokerage currently has a “neutral” rating on the financial services provider’s stock. Citigroup Inc.’s price objective indicates a potential upside of 9.92% from the company’s previous close.
NDAQ has been the subject of several other research reports. BidaskClub upgraded shares of Nasdaq from a “hold” rating to a “buy” rating in a report on Friday, August 4th. Barclays PLC initiated coverage on shares of Nasdaq in a report on Friday, September 8th. They issued an “overweight” rating and a $85.00 target price for the company. Zacks Investment Research cut shares of Nasdaq from a “hold” rating to a “sell” rating in a report on Monday, October 9th. Royal Bank Of Canada set a $74.00 target price on shares of Nasdaq and gave the company a “hold” rating in a report on Monday, July 17th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $78.00 target price on shares of Nasdaq in a report on Thursday, October 12th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $77.50.
Shares of Nasdaq (NASDAQ:NDAQ) traded down 2.031% during midday trading on Thursday, reaching $73.085. 1,122,783 shares of the company’s stock traded hands. The stock has a market capitalization of $12.19 billion, a P/E ratio of 55.536 and a beta of 0.77. Nasdaq has a 1-year low of $63.30 and a 1-year high of $78.31. The firm’s 50-day moving average price is $75.55 and its 200 day moving average price is $72.11.
Nasdaq (NASDAQ:NDAQ) last issued its earnings results on Wednesday, July 26th. The financial services provider reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.06. Nasdaq had a net margin of 5.76% and a return on equity of 12.19%. The business had revenue of $602.00 million during the quarter, compared to analysts’ expectations of $596.55 million. During the same quarter in the prior year, the business posted $0.91 EPS. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. On average, equities analysts predict that Nasdaq will post $4.16 earnings per share for the current fiscal year.
In related news, insider Edward S. Knight sold 15,000 shares of the company’s stock in a transaction on Friday, July 28th. The shares were sold at an average price of $74.39, for a total value of $1,115,850.00. Following the completion of the sale, the insider now owns 78,063 shares in the company, valued at approximately $5,807,106.57. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Lars Wedenborn sold 3,045 shares of the company’s stock in a transaction on Friday, August 18th. The shares were sold at an average price of $76.13, for a total transaction of $231,815.85. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,844 shares of company stock valued at $2,788,100. 1.60% of the stock is owned by insiders.
Hedge funds have recently added to or reduced their stakes in the stock. YorkBridge Wealth Partners LLC raised its position in Nasdaq by 13.9% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 1,454 shares of the financial services provider’s stock valued at $104,000 after purchasing an additional 178 shares during the last quarter. Pacer Advisors Inc. raised its position in Nasdaq by 8.6% in the 2nd quarter. Pacer Advisors Inc. now owns 2,568 shares of the financial services provider’s stock valued at $184,000 after purchasing an additional 203 shares during the last quarter. MML Investors Services LLC purchased a new stake in Nasdaq in the 2nd quarter valued at $201,000. IFP Advisors Inc raised its position in Nasdaq by 9.4% in the 2nd quarter. IFP Advisors Inc now owns 2,837 shares of the financial services provider’s stock valued at $203,000 after purchasing an additional 243 shares during the last quarter. Finally, Advisor Partners LLC purchased a new stake in Nasdaq in the 2nd quarter valued at $214,000. Hedge funds and other institutional investors own 74.44% of the company’s stock.
Nasdaq Company Profile
Nasdaq, Inc (Nasdaq) is a holding company. The Company is a provider of trading, clearing, exchange technology, regulatory, securities listing, information and public company services. It manages, operates and provides its products and services through four segments: Market Services, Corporate Services, Information Services and Market Technology.
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