Bank of America Cuts Nasdaq (NASDAQ:NDAQ) Price Target to $88.00

by · The Cerbat Gem

Nasdaq (NASDAQ:NDAQ – Free Report) had its target price cut by Bank of America from $90.00 to $88.00 in a research report report published on Thursday morning, Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

NDAQ has been the topic of several other reports. Oppenheimer increased their price target on Nasdaq from $78.00 to $80.00 and gave the stock an outperform rating in a report on Monday, September 9th. TD Cowen started coverage on Nasdaq in a research note on Thursday, September 26th. They issued a hold rating and a $83.00 target price on the stock. Barclays boosted their target price on shares of Nasdaq from $74.00 to $77.00 and gave the company an overweight rating in a research note on Friday, July 26th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Nasdaq from $66.00 to $72.00 and gave the stock a hold rating in a research note on Thursday, August 15th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Nasdaq from $76.00 to $78.00 and gave the company an outperform rating in a research report on Friday, July 26th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $74.40.

Check Out Our Latest Analysis on Nasdaq

Nasdaq Stock Down 1.1 %

NASDAQ NDAQ opened at $72.12 on Thursday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.85. Nasdaq has a 52 week low of $47.56 and a 52 week high of $74.88. The firm has a market capitalization of $41.48 billion, a price-to-earnings ratio of 37.96, a PEG ratio of 3.04 and a beta of 0.95. The company has a fifty day moving average of $70.92 and a two-hundred day moving average of $64.50.

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

Nasdaq Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.96 dividend on an annualized basis and a yield of 1.33%. Nasdaq’s dividend payout ratio is currently 50.53%.

Insider Activity

In related 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 transaction of $2,764,295,688.06. Following the completion of the sale, the insider now directly owns 42,804,207 shares in the company, 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 through this link. Company insiders own 0.70% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Thoma Bravo L.P. acquired a new position in shares of Nasdaq during the fourth quarter worth $4,166,454,000. Vanguard Group Inc. raised its stake in Nasdaq by 7.0% in the first quarter. Vanguard Group Inc. now owns 48,239,872 shares of the financial services provider’s stock valued at $3,043,936,000 after buying an additional 3,173,981 shares during the last quarter. Farallon Capital Management LLC boosted its holdings in Nasdaq by 28.4% in the first quarter. Farallon Capital Management LLC now owns 8,436,719 shares of the financial services provider’s stock worth $532,357,000 after acquiring an additional 1,866,219 shares in the last quarter. Bain Capital Public Equity Management II LLC purchased a new stake in shares of Nasdaq during the fourth quarter worth about $96,241,000. Finally, CANADA LIFE ASSURANCE Co increased its holdings in shares of Nasdaq by 283.8% during the first quarter. CANADA LIFE ASSURANCE Co now owns 1,154,143 shares of the financial services provider’s stock valued at $72,880,000 after acquiring an additional 853,414 shares in the last quarter. Institutional investors own 72.47% of the company’s stock.

About Nasdaq

(Get Free Report)

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.

Featured Stories