Nasdaq’s (NDAQ) “Outperform” Rating Reaffirmed at Royal Bank of Canada

Nasdaq (NASDAQ:NDAQ)‘s stock had its “outperform” rating restated by analysts at Royal Bank of Canada in a research report issued on Friday, Benzinga reports. They currently have a $88.00 price objective on the financial services provider’s stock. Royal Bank of Canada’s price target indicates a potential upside of 18.34% from the stock’s current price.

Other analysts also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft increased their target price on Nasdaq from $66.00 to $72.00 and gave the company a “hold” rating in a report on Thursday, August 15th. Morgan Stanley increased their price target on shares of Nasdaq from $92.00 to $93.00 and gave the stock an “overweight” rating in a research report on Friday. Barclays boosted their price objective on shares of Nasdaq from $77.00 to $84.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. TD Cowen initiated coverage on shares of Nasdaq in a research report on Thursday, September 26th. They issued a “hold” rating and a $83.00 target price for the company. Finally, Bank of America lowered their price target on shares of Nasdaq from $90.00 to $88.00 and set a “buy” rating on the stock in a report on Thursday, October 3rd. One analyst has rated the stock with a sell rating, five have given a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $79.27.

Nasdaq Trading Down 1.2 %

NDAQ traded down $0.88 during trading on Friday, reaching $74.36. The company had a trading volume of 751,102 shares, compared to its average volume of 2,889,777. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.94 and a current ratio of 0.94. Nasdaq has a 12-month low of $47.56 and a 12-month high of $75.60. The company has a market cap of $42.83 billion, a price-to-earnings ratio of 42.72, a PEG ratio of 3.09 and a beta of 0.95. The firm’s 50-day simple moving average is $72.46 and its 200 day simple moving average is $65.60.

Nasdaq (NASDAQ:NDAQ) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.05. The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.17 billion. Nasdaq had a net margin of 14.43% and a return on equity of 15.45%. The firm’s revenue was up 21.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.71 earnings per share. Equities research analysts anticipate that Nasdaq will post 2.75 earnings per share for the current year.

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 shares were 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 of the company’s stock, valued at approximately $2,764,295,688.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On Nasdaq

A number of hedge funds have recently bought and sold shares of NDAQ. First Pacific Financial boosted its position in Nasdaq by 1.0% in the third quarter. First Pacific Financial now owns 13,842 shares of the financial services provider’s stock valued at $1,011,000 after buying an additional 142 shares in the last quarter. Signaturefd LLC grew its position in Nasdaq by 2.5% during the 3rd quarter. Signaturefd LLC now owns 6,584 shares of the financial services provider’s stock worth $481,000 after acquiring an additional 162 shares during the last quarter. Smithfield Trust Co increased its holdings in Nasdaq by 22.0% during the 1st quarter. Smithfield Trust Co now owns 960 shares of the financial services provider’s stock valued at $59,000 after purchasing an additional 173 shares in the last quarter. Evergreen Capital Management LLC boosted its stake in Nasdaq by 5.4% in the second quarter. Evergreen Capital Management LLC now owns 3,826 shares of the financial services provider’s stock worth $231,000 after purchasing an additional 197 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund grew its holdings in shares of Nasdaq by 0.6% during the second quarter. Oregon Public Employees Retirement Fund now owns 32,647 shares of the financial services provider’s stock worth $1,967,000 after purchasing an additional 200 shares during the last quarter. 72.47% of the stock is currently owned by 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.