Nasdaq (NASDAQ:NDAQ) Stock Price Target Lowered at TD Cowen

Key Points

• TD Cowen lowered Nasdaq’s price target from $108 to $107 while maintaining a “buy” rating, implying approximately 13.5% upside from the stock’s $94.26 price.
• Analysts remain broadly positive, with Nasdaq receiving a “Moderate Buy” consensus rating and an average target price of $109.08.
• Nasdaq reported stronger-than-expected quarterly results, posting $1.07 in EPS versus a $0.98 consensus estimate and 14.9% year-over-year revenue growth; however, insiders have sold more than 44,000 shares over the past 90 days.

Nasdaq (NASDAQ:NDAQ - Get Free Report) had its price objective decreased by analysts at TD Cowen from $108.00 to $107.00 in a report issued on Monday, Benzinga reports. The firm presently has a "buy" rating on the financial services provider's stock. TD Cowen's target price suggests a potential upside of 13.52% from the company's current price.

Other equities research analysts have also recently issued research reports about the company. Barclays reissued an "overweight" rating and issued a $109.00 price objective (down from $111.00) on shares of Nasdaq in a research note on Wednesday, October 7th. Wells Fargo & Company initiated coverage on shares of Nasdaq in a research note on Friday, October 2nd. They issued an "equal weight" rating and a $100.00 target price for the company. Morgan Stanley dropped their target price on shares of Nasdaq from $120.00 to $118.00 and set an "overweight" rating on the stock in a research report on Friday. Keefe, Bruyette & Woods lifted their price target on Nasdaq from $92.00 to $102.00 and gave the stock a "market perform" rating in a report on Friday, July 24th. Finally, Raymond James Financial reiterated an "outperform" rating on shares of Nasdaq in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Nasdaq has an average rating of "Moderate Buy" and an average target price of $109.08.

Nasdaq Stock Performance

Shares of NDAQ stock traded up $0.61 during trading on Monday, reaching $94.26. 505,831 shares of the company's stock were exchanged, compared to its average volume of 3,797,516. The firm's fifty day moving average price is $94.77 and its 200-day moving average price is $90.31. Nasdaq has a twelve month low of $76.55 and a twelve month high of $101.79. The stock has a market capitalization of $52.69 billion, a PE ratio of 27.45, a PEG ratio of 1.67 and a beta of 0.99. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.71.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $1.07 earnings per share for the quarter, topping analysts' consensus estimates of $0.98 by $0.09. Nasdaq had a net margin of 22.60% and a return on equity of 18.38%. The company had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the prior year, the firm posted $0.85 EPS. The firm's quarterly revenue was up 14.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Nasdaq will post 4.13 EPS for the current year.

Insider Activity

In other news, EVP Bradley J. Peterson sold 13,000 shares of the stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $92.61, for a total value of $1,203,930.00. Following the completion of the transaction, the executive vice president owned 128,293 shares of the company's stock, valued at approximately $11,881,214.73. This represents a 9.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nelson Griggs sold 11,010 shares of the business's stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $96.35, for a total transaction of $1,060,813.50. Following the sale, the insider owned 205,001 shares in the company, valued at approximately $19,751,846.35. This trade represents a 5.10% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 44,047 shares of company stock valued at $4,139,191. Corporate insiders own 0.60% of the company's stock.

Hedge Funds Weigh In On Nasdaq

Hedge funds have recently bought and sold shares of the business. Argus Investors Counsel Inc. lifted its stake in shares of Nasdaq by 6.5% in the 3rd quarter. Argus Investors Counsel Inc. now owns 6,912 shares of the financial services provider's stock valued at $636,000 after purchasing an additional 422 shares during the last quarter. Wedmont Private Capital grew its holdings in shares of Nasdaq by 45.0% in the third quarter. Wedmont Private Capital now owns 7,760 shares of the financial services provider's stock valued at $717,000 after purchasing an additional 2,410 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Nasdaq by 6.6% in the third quarter. GAMMA Investing LLC now owns 19,587 shares of the financial services provider's stock valued at $1,802,000 after acquiring an additional 1,220 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in Nasdaq by 49.3% in the third quarter. Farther Finance Advisors LLC now owns 24,086 shares of the financial services provider's stock valued at $2,216,000 after acquiring an additional 7,949 shares in the last quarter. Finally, Fenimore Asset Management Inc lifted its holdings in Nasdaq by 2.9% during the 3rd quarter. Fenimore Asset Management Inc now owns 223,406 shares of the financial services provider's stock worth $20,556,000 after buying an additional 6,327 shares during the last quarter. Hedge funds and other institutional investors own 72.47% of the company's stock.

Nasdaq Company Profile

Nasdaq, Inc is a global financial technology, market infrastructure and exchange company headquartered in New York City. The company operates Nasdaq stock exchanges in the United States and provides trading, clearing, settlement, listing and market data services. Through its Nordic and Baltic operations, Nasdaq also serves financial markets across Northern Europe.

Nasdaq's business includes exchange and market services, index development, investment intelligence, and technology solutions for exchanges, brokers, banks, asset managers and other financial institutions.

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