Nasdaq (NASDAQ:NDAQ) Sets New 1-Year High After Analyst Upgrade

by · The Markets Daily

Shares of Nasdaq, Inc. (NASDAQ:NDAQ – Get Free Report) reached a new 52-week high on Friday after Morgan Stanley raised their price target on the stock from $85.00 to $92.00. Morgan Stanley currently has an overweight rating on the stock. Nasdaq traded as high as $74.93 and last traded at $74.91, with a volume of 2065641 shares trading hands. The stock had previously closed at $74.14.

Several other equities research analysts have also commented on the stock. UBS Group boosted their price target on shares of Nasdaq from $73.00 to $79.00 and gave the company a “neutral” rating in a report on Tuesday, October 8th. TD Cowen initiated coverage on Nasdaq in a research report on Thursday, September 26th. They issued a “hold” rating and a $83.00 price target for the company. Bank of America decreased their price objective on Nasdaq from $90.00 to $88.00 and set a “buy” rating for the company in a research note on Thursday, October 3rd. The Goldman Sachs Group lifted their target price on Nasdaq from $77.00 to $83.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Finally, Oppenheimer raised their price target on shares of Nasdaq from $80.00 to $84.00 and gave the company an “outperform” rating in a report on Monday. One analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $78.06.

Get Our Latest Stock Analysis on NDAQ

Insider Activity

In related news, major shareholder Seller Lp Argus sold 42,804,207 shares of the stock in a transaction that occurred on Monday, July 29th. The shares were 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 in the company, valued at approximately $2,764,295,688.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On Nasdaq

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Raymond James & Associates lifted its holdings in Nasdaq by 4.3% in the third quarter. Raymond James & Associates now owns 1,328,493 shares of the financial services provider’s stock valued at $96,993,000 after acquiring an additional 55,248 shares during the period. Friedenthal Financial purchased a new position in shares of Nasdaq during the 3rd quarter valued at approximately $805,000. Blue Trust Inc. lifted its stake in shares of Nasdaq by 96.3% in the 3rd quarter. Blue Trust Inc. now owns 2,846 shares of the financial services provider’s stock valued at $208,000 after purchasing an additional 1,396 shares during the period. Claro Advisors LLC acquired a new stake in Nasdaq during the third quarter valued at $33,000. Finally, V Square Quantitative Management LLC increased its holdings in Nasdaq by 15.4% in the third quarter. V Square Quantitative Management LLC now owns 12,363 shares of the financial services provider’s stock valued at $903,000 after buying an additional 1,649 shares in the last quarter. 72.47% of the stock is owned by institutional investors and hedge funds.

Nasdaq Stock Performance

The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.94 and a current ratio of 0.94. The firm has a market capitalization of $43.09 billion, a PE ratio of 39.02, a price-to-earnings-growth ratio of 2.99 and a beta of 0.95. The firm’s 50 day moving average price is $71.89 and its 200-day moving average price is $65.15.

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

Nasdaq Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were paid a $0.24 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.96 dividend on an annualized basis and a yield of 1.28%. Nasdaq’s dividend payout ratio is currently 50.53%.

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.

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