Nasdaq (NASDAQ:NDAQ) Stock Price Expected to Rise, Citigroup Analyst Says

Nasdaq (NASDAQ:NDAQ) had its price target lifted by equities researchers at Citigroup from $78.00 to $84.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. Citigroup’s target price indicates a potential upside of 10.70% from the stock’s previous close.

Other equities analysts have also issued reports about the stock. TD Cowen reduced their price target on shares of Nasdaq from $81.00 to $80.00 and set a “hold” rating on the stock in a research report on Monday, October 28th. William Blair assumed coverage on shares of Nasdaq in a research note on Monday, November 25th. They issued an “outperform” rating for the company. Keefe, Bruyette & Woods boosted their target price on shares of Nasdaq from $86.00 to $91.00 and gave the stock an “outperform” rating in a research note on Friday, December 20th. Argus boosted their target price on shares of Nasdaq from $76.00 to $82.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $95.00 target price on shares of Nasdaq in a research note on Thursday. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $85.60.

Nasdaq Price Performance

Shares of Nasdaq stock opened at $75.88 on Friday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.95 and a current ratio of 0.95. The firm’s 50-day simple moving average is $79.26 and its 200-day simple moving average is $72.80. Nasdaq has a twelve month low of $54.90 and a twelve month high of $83.77. The firm has a market cap of $43.61 billion, a P/E ratio of 45.44, a price-to-earnings-growth ratio of 3.12 and a beta of 0.98.

Nasdaq (NASDAQ:NDAQ) last issued its earnings results on Thursday, October 24th. The financial services provider reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.05. Nasdaq had a net margin of 13.67% and a return on equity of 14.56%. The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period in the previous year, the business earned $0.71 EPS. The firm’s revenue was up 21.9% on a year-over-year basis. As a group, research analysts expect that Nasdaq will post 2.79 EPS for the current fiscal year.

Insider Buying and Selling at Nasdaq

In other news, EVP Bradley J. Peterson sold 13,642 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $75.32, for a total value of $1,027,515.44. Following the completion of the transaction, the executive vice president now owns 142,830 shares in the company, valued at $10,757,955.60. This represents a 8.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Pc Nelson Griggs sold 6,000 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $75.71, for a total transaction of $454,260.00. Following the transaction, the insider now owns 215,563 shares of the company’s stock, valued at $16,320,274.73. The trade was a 2.71 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 49,459 shares of company stock valued at $3,811,808. Corporate insiders own 0.70% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Cumberland Partners Ltd bought a new stake in Nasdaq during the third quarter worth $10,400,000. Nomura Asset Management Co. Ltd. raised its position in Nasdaq by 49.8% during the third quarter. Nomura Asset Management Co. Ltd. now owns 164,179 shares of the financial services provider’s stock worth $11,987,000 after acquiring an additional 54,594 shares in the last quarter. Thompson Siegel & Walmsley LLC bought a new stake in Nasdaq during the third quarter worth $2,701,000. Dimensional Fund Advisors LP raised its position in Nasdaq by 8.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,358,843 shares of the financial services provider’s stock worth $142,144,000 after acquiring an additional 174,778 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Nasdaq by 10.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,223,433 shares of the financial services provider’s stock valued at $235,343,000 after purchasing an additional 313,079 shares during the period. Institutional investors and hedge funds 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.