Nasdaq’s (NDAQ) “Outperform” Rating Reiterated at Oppenheimer

Nasdaq (NASDAQ:NDAQ)‘s stock had its “outperform” rating reaffirmed by analysts at Oppenheimer in a research report issued to clients and investors on Tuesday, MarketBeat.com reports. They currently have a $101.00 target price on the financial services provider’s stock, up from their prior target price of $96.00. Oppenheimer’s price target suggests a potential upside of 13.43% from the stock’s current price.

Several other equities analysts have also recently commented on NDAQ. Royal Bank Of Canada reiterated an “outperform” rating and set a $95.00 target price on shares of Nasdaq in a research note on Thursday, April 10th. Bank of America increased their price objective on shares of Nasdaq from $103.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, April 2nd. Barclays raised their price objective on shares of Nasdaq from $84.00 to $101.00 and gave the stock an “overweight” rating in a report on Thursday, July 10th. Keefe, Bruyette & Woods upped their target price on shares of Nasdaq from $87.00 to $88.00 and gave the company an “outperform” rating in a research note on Friday, April 25th. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $96.00 price target (up from $84.00) on shares of Nasdaq in a research note on Wednesday, July 9th. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $92.63.

Nasdaq Stock Performance

NASDAQ:NDAQ opened at $89.04 on Tuesday. The firm has a 50-day moving average of $85.49 and a two-hundred day moving average of $79.96. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.98 and a quick ratio of 0.98. The stock has a market cap of $51.12 billion, a P/E ratio of 40.47, a PEG ratio of 2.13 and a beta of 1.01. Nasdaq has a 1-year low of $62.21 and a 1-year high of $90.84.

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

Insider Buying and Selling

In related news, EVP Bradley J. Peterson sold 11,508 shares of the company’s stock in a transaction 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 completion of the transaction, the executive vice president directly owned 111,035 shares in the company, valued at $9,867,680.45. This represents a 9.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jeremy Skule sold 2,105 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $89.17, for a total value 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. This represents a 2.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,613 shares of company stock valued at $1,874,659. Insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On Nasdaq

A number of hedge funds have recently made changes to their positions in NDAQ. Independent Advisor Alliance raised its stake in Nasdaq by 31.6% during the 4th quarter. Independent Advisor Alliance now owns 4,488 shares of the financial services provider’s stock valued at $347,000 after acquiring an additional 1,078 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its stake in shares of Nasdaq by 2.6% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 27,931 shares of the financial services provider’s stock valued at $2,159,000 after purchasing an additional 703 shares in the last quarter. Corient Private Wealth LLC lifted its holdings in Nasdaq by 21.2% in the fourth quarter. Corient Private Wealth LLC now owns 337,591 shares of the financial services provider’s stock worth $26,099,000 after purchasing an additional 58,969 shares during the period. Harbour Investments Inc. grew its position in Nasdaq by 6.7% in the 4th quarter. Harbour Investments Inc. now owns 3,572 shares of the financial services provider’s stock valued at $276,000 after buying an additional 223 shares in the last quarter. Finally, Twin Tree Management LP acquired a new position in Nasdaq during the 4th quarter valued at about $1,311,000. Institutional investors own 72.47% of the company’s stock.

Nasdaq Company Profile

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.