Nasdaq (NASDAQ:NDAQ) Downgraded to "Hold" Rating by Zacks Research

Key Points

• Zacks Research downgraded Nasdaq to “Hold” from “Strong Buy,” although the broader analyst consensus remains “Moderate Buy” with an average price target of $110.30.
• Nasdaq reported quarterly earnings of $1.07 per share, exceeding the $0.98 estimate, while revenue rose 14.9% year over year to $2.53 billion.
• The stock opened at $94.50, near its 50-day average of $94.83, with a market capitalization of $52.82 billion; insiders sold $4.03 million worth of shares in the latest quarter.

Nasdaq (NASDAQ:NDAQ - Get Free Report) was downgraded by investment analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research report issued to clients and investors on Monday, Zacks reports.

Several other brokerages have also recently commented on NDAQ. TD Cowen reaffirmed a "buy" rating and set a $105.00 price target (up from $101.00) on shares of Nasdaq in a research report on Monday, July 20th. Raymond James Financial restated an "outperform" rating and set a $113.00 price target (up from $111.00) on shares of Nasdaq in a research report on Thursday, July 9th. Weiss Ratings restated a "buy (b)" rating on shares of Nasdaq in a research report on Monday, July 20th. Rothschild & Co Redburn set a $110.00 target price on shares of Nasdaq in a research note on Thursday, June 11th. Finally, Morgan Stanley reissued an "overweight" rating and issued a $120.00 price objective on shares of Nasdaq in a research note on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Nasdaq presently has a consensus rating of "Moderate Buy" and an average price target of $110.30.

Nasdaq Trading Down 0.2%

NASDAQ NDAQ opened at $94.50 on Monday. Nasdaq has a 52 week low of $76.55 and a 52 week high of $101.79. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.71. The stock has a market cap of $52.82 billion, a P/E ratio of 27.55, a PEG ratio of 1.65 and a beta of 0.97. The company's fifty day simple moving average is $94.83 and its 200-day simple moving average is $89.74.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $1.07 earnings per share for the quarter, beating analysts' consensus estimates of $0.98 by $0.09. The company had revenue of $2.53 billion during the quarter, compared to analysts' expectations of $1.46 billion. Nasdaq had a net margin of 22.60% and a return on equity of 18.38%. The firm's revenue for the quarter was up 14.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.85 EPS. Equities research analysts predict that Nasdaq will post 4.15 EPS for the current fiscal year.

Insider Buying and Selling at Nasdaq

In related news, EVP Jeremy Skule sold 1,125 shares of the business's stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $94.22, for a total value of $105,997.50. Following the completion of the sale, the executive vice president owned 101,198 shares of the company's stock, valued at approximately $9,534,875.56. The trade was a 1.10% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Bradley Peterson sold 13,000 shares of the stock in a transaction on Friday, July 24th. The stock was sold at an average price of $92.61, for a total transaction of $1,203,930.00. Following the transaction, the executive vice president owned 128,293 shares in the company, valued at approximately $11,881,214.73. This trade represents a 9.20% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 42,922 shares of company stock valued at $4,032,316 in the last quarter. Company insiders own 0.60% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Andra AP fonden increased its holdings in shares of Nasdaq by 3.1% in the second quarter. Andra AP fonden now owns 134,673 shares of the financial services provider's stock valued at $10,615,000 after purchasing an additional 4,090 shares in the last quarter. Security National Bank of SO Dak bought a new stake in Nasdaq during the 2nd quarter worth approximately $47,000. Wellington Altus USA Inc. raised its stake in shares of Nasdaq by 89.3% in the 2nd quarter. Wellington Altus USA Inc. now owns 1,412 shares of the financial services provider's stock valued at $120,000 after purchasing an additional 666 shares during the period. Sequoia Financial Advisors LLC raised its holdings in shares of Nasdaq by 16.9% in the second quarter. Sequoia Financial Advisors LLC now owns 85,621 shares of the financial services provider's stock valued at $6,749,000 after purchasing an additional 12,398 shares during the last quarter. Finally, Tidal Investments LLC increased its position in shares of Nasdaq by 2.8% in the second quarter. Tidal Investments LLC now owns 66,321 shares of the financial services provider's stock valued at $5,227,000 after acquiring an additional 1,836 shares during the last quarter. Institutional investors and hedge funds own 72.47% of the company's stock.

Nasdaq Company Profile

Nasdaq, Inc NASDAQ: NDAQ operates financial markets and provides technology, data and analytics services to exchanges, brokers, institutional investors, corporations and other financial institutions. The company is best known for operating the Nasdaq Stock Market, a major U.S. equities exchange and a prominent venue for technology and growth companies.

Nasdaq's businesses include listings, trading, market data, indexes, clearing and market infrastructure solutions. Through its technology platforms, the company provides exchange operators and financial institutions with systems for trading, surveillance, risk management, regulatory compliance and other market functions.

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