Nasdaq (NASDAQ:NDAQ) Rating Increased to Outperform at Raymond James

Nasdaq (NASDAQ:NDAQ) was upgraded by stock analysts at Raymond James from a “market perform” rating to an “outperform” rating in a research note issued to investors on Monday, MarketBeat.com reports. The brokerage currently has a $82.00 price target on the financial services provider’s stock. Raymond James’ price objective points to a potential upside of 12.28% from the stock’s previous close.

Other equities analysts have also issued reports about the company. TD Cowen initiated coverage on Nasdaq in a research note on Thursday, September 26th. They set a “hold” rating and a $83.00 price target for the company. Keefe, Bruyette & Woods increased their target price on Nasdaq from $76.00 to $78.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Piper Sandler boosted their price target on shares of Nasdaq from $73.00 to $80.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Barclays lifted their price objective on shares of Nasdaq from $77.00 to $84.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $88.00 target price on shares of Nasdaq in a research report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $77.31.

Nasdaq Trading Up 0.6 %

Nasdaq stock opened at $73.03 on Monday. Nasdaq has a 1 year low of $47.56 and a 1 year high of $74.88. The firm’s 50 day moving average price is $71.63 and its 200-day moving average price is $65.03. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.94 and a quick ratio of 0.94. The stock has a market cap of $42.01 billion, a P/E ratio of 38.44, a PEG ratio of 2.99 and a beta of 0.95.

Nasdaq (NASDAQ:NDAQ) last announced its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the previous year, the firm posted $0.71 EPS. Nasdaq’s revenue for the quarter was up 25.3% compared to the same quarter last year. On average, equities analysts predict that Nasdaq will post 2.75 earnings per share for the current fiscal year.

Insider Transactions at Nasdaq

In related news, major shareholder Seller Lp Argus sold 42,804,207 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $2,764,295,688.06. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On Nasdaq

Institutional investors and hedge funds have recently bought and sold shares of the company. Y.D. More Investments Ltd grew its position in shares of Nasdaq by 94.8% during the 2nd quarter. Y.D. More Investments Ltd now owns 415 shares of the financial services provider’s stock worth $25,000 after buying an additional 202 shares in the last quarter. Hobbs Group Advisors LLC purchased a new stake in Nasdaq in the second quarter worth about $26,000. Salem Investment Counselors Inc. grew its holdings in Nasdaq by 89.3% during the 1st quarter. Salem Investment Counselors Inc. now owns 426 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 201 shares in the last quarter. Crewe Advisors LLC grew its holdings in Nasdaq by 164.4% during the 2nd quarter. Crewe Advisors LLC now owns 505 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 314 shares in the last quarter. Finally, LRI Investments LLC purchased a new position in Nasdaq during the 1st quarter valued at about $31,000. 72.47% of the stock is 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.