Nasdaq (NASDAQ:NDAQ) Now Covered by Analysts at Erste Group Bank

Key Points

• Erste Group Bank initiated coverage of Nasdaq with a “buy” rating, adding to an overall “Moderate Buy” consensus and an average analyst price target of $113.53.
• Nasdaq reported quarterly EPS of $1.04, exceeding estimates of $1.02, while revenue rose 12.6% year over year to $2.39 billion.
• NDAQ opened at $105.60, near its 12-month high of $107.93; institutional investors own 72.47% of the stock, while company insiders sold 22,877 shares during the latest quarter.

Investment analysts at Erste Group Bank initiated coverage on shares of Nasdaq (NASDAQ:NDAQ - Get Free Report) in a research note issued to investors on Friday, Briefing.com reports. The firm set a "buy" rating on the financial services provider's stock.

Several other equities analysts have also commented on NDAQ. Barclays set a $121.00 price target on Nasdaq and gave the company an "overweight" rating in a research note on Friday, October 23rd. TD Cowen lowered their price objective on Nasdaq from $108.00 to $107.00 and set a "buy" rating for the company in a research report on Monday, October 12th. Piper Sandler reiterated an "overweight" rating and issued a $108.00 price objective (up from $104.00) on shares of Nasdaq in a report on Friday, October 2nd. JPMorgan Chase & Co. boosted their target price on Nasdaq from $120.00 to $122.00 and gave the stock an "overweight" rating in a research note on Friday, October 23rd. Finally, Rothschild & Co Redburn lowered their price target on Nasdaq from $110.00 to $107.00 and set a "buy" rating for the company in a report on Thursday, September 10th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, Nasdaq has a consensus rating of "Moderate Buy" and a consensus price target of $113.53.

Nasdaq Trading Up 0.0%

NDAQ opened at $105.60 on Friday. Nasdaq has a 12 month low of $76.55 and a 12 month high of $107.93. The stock has a market capitalization of $58.60 billion, a price-to-earnings ratio of 28.85, a PEG ratio of 1.85 and a beta of 0.99. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.00 and a quick ratio of 1.00. The business has a fifty day moving average price of $95.54 and a 200 day moving average price of $90.65.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last posted its quarterly earnings results on Thursday, October 22nd. The financial services provider reported $1.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.02 by $0.02. Nasdaq had a return on equity of 19.03% and a net margin of 22.81%. The company had revenue of $2.39 billion for the quarter, compared to analyst estimates of $1.47 billion. During the same quarter last year, the company earned $0.88 EPS. Nasdaq's revenue for the quarter was up 12.6% compared to the same quarter last year. Sell-side analysts expect that Nasdaq will post 4.15 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Bradley Peterson sold 4,000 shares of Nasdaq stock in a transaction dated Friday, October 23rd. The shares were sold at an average price of $103.38, for a total transaction of $413,520.00. Following the completion of the sale, the executive vice president directly owned 118,293 shares in the company, valued at $12,229,130.34. The trade was a 3.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Jeremy Skule sold 1,125 shares of the stock in a transaction dated Tuesday, October 20th. The stock was sold at an average price of $95.00, for a total transaction of $106,875.00. Following the transaction, the executive vice president owned 96,561 shares in the company, valued at approximately $9,173,295. The trade was a 1.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 22,877 shares of company stock worth $2,330,505. 0.60% of the stock is owned by corporate insiders.

Institutional Trading of Nasdaq

Several large investors have recently modified their holdings of NDAQ. BlackRock Inc. purchased a new stake in Nasdaq in the 2nd quarter valued at about $2,931,637,000. Bank of America Corp DE purchased a new stake in shares of Nasdaq during the 2nd quarter valued at approximately $603,631,000. The Manufacturers Life Insurance Company purchased a new position in shares of Nasdaq in the second quarter valued at $377,818,000. Legal & General Group Plc bought a new stake in shares of Nasdaq during the second quarter valued at about $220,130,000. Finally, Deutsche Bank AG purchased a new position in shares of Nasdaq during the 2nd quarter valued at $180,099,000. 72.47% of the stock is currently owned by institutional investors and hedge funds.

Nasdaq Company Profile

Nasdaq, Inc is a global financial technology and market infrastructure company best known for operating the Nasdaq Stock Market, one of the world's largest electronic stock exchanges. The company provides listing services for public companies and operates trading venues for equities, options and other financial products. Its exchange business serves companies, investors and market participants in the United States, as well as through Nasdaq's Nordic and Baltic market operations.

Beyond its exchange activities, Nasdaq provides market data, analytics, indexes and technology used by exchanges, brokers, banks, asset managers and other financial institutions.

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