Nasdaq (NASDAQ:NDAQ) Price Target Raised to $97.00 at The Goldman Sachs Group

Nasdaq (NASDAQ:NDAQ) had its price objective increased by research analysts at The Goldman Sachs Group from $85.00 to $97.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. The Goldman Sachs Group’s price objective points to a potential upside of 7.86% from the stock’s current price.

Other equities analysts have also issued research reports about the stock. Barclays cut their price objective on shares of Nasdaq from $86.00 to $84.00 and set an “overweight” rating for the company in a research report on Friday, April 25th. Morgan Stanley lowered shares of Nasdaq from an “overweight” rating to an “equal weight” rating and set a $74.00 price objective for the company. in a research report on Tuesday, April 8th. Royal Bank Of Canada reissued an “outperform” rating and issued a $95.00 price objective on shares of Nasdaq in a research report on Thursday, April 10th. Citigroup cut their price objective on shares of Nasdaq from $84.00 to $75.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th. Finally, Wall Street Zen upgraded shares of Nasdaq from a “sell” rating to a “hold” rating in a report on Friday, April 18th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.06.

Nasdaq Stock Up 0.5%

NDAQ stock opened at $89.93 on Wednesday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.77. The company has a market cap of $51.63 billion, a P/E ratio of 40.88, a P/E/G ratio of 2.31 and a beta of 1.01. The company’s 50-day moving average price is $83.20 and its 200 day moving average price is $79.26. Nasdaq has a 52 week low of $59.95 and a 52 week high of $90.35.

Nasdaq (NASDAQ:NDAQ) last announced its earnings results on Thursday, April 24th. The financial services provider reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.02. The company had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Nasdaq had a net margin of 16.36% and a return on equity of 15.38%. The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.63 earnings per share. On average, research analysts expect that Nasdaq will post 3.18 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Nasdaq news, EVP Jeremy Skule sold 2,105 shares of the business’s stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $89.17, for a total transaction of $187,702.85. Following the completion of the sale, the executive vice president directly owned 94,656 shares in the company, valued at $8,440,475.52. The trade was a 2.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Bradley J. Peterson sold 11,508 shares of the business’s stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $88.87, for a total transaction of $1,022,715.96. Following the sale, the executive vice president owned 111,035 shares of the company’s stock, valued at approximately $9,867,680.45. This represents a 9.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,613 shares of company stock worth $1,874,659 over the last ninety days. 0.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Nasdaq

Institutional investors have recently bought and sold shares of the business. Grove Bank & Trust grew its stake in Nasdaq by 194.6% during the first quarter. Grove Bank & Trust now owns 327 shares of the financial services provider’s stock worth $25,000 after buying an additional 216 shares during the period. Rakuten Securities Inc. purchased a new position in shares of Nasdaq in the fourth quarter valued at $26,000. Highline Wealth Partners LLC boosted its stake in shares of Nasdaq by 1,509.5% in the first quarter. Highline Wealth Partners LLC now owns 338 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 317 shares during the period. Opal Wealth Advisors LLC purchased a new position in shares of Nasdaq in the first quarter valued at $26,000. Finally, First Command Advisory Services Inc. purchased a new position in shares of Nasdaq in the first quarter valued at $30,000. 72.47% of the stock is currently owned by hedge funds and other institutional investors.

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.