Nasdaq (NASDAQ:NDAQ) Given New $108.00 Price Target at Barclays

Key Points

• Barclays cut its price target on Nasdaq from $114 to $108 while keeping an overweight rating, implying about 26.3% upside from the previous close.
• Analyst sentiment remains broadly positive: Nasdaq has one Strong Buy, twelve Buy, and one Hold rating, with a consensus target price of $106.92.
• Nasdaq recently reported better-than-expected quarterly results, including $0.96 EPS versus $0.93 expected and $2.14 billion in revenue, up 13.7% year over year.

Nasdaq (NASDAQ:NDAQ - Get Free Report) had its price target decreased by equities researchers at Barclays from $114.00 to $108.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an "overweight" rating on the financial services provider's stock. Barclays's target price would suggest a potential upside of 26.31% from the company's previous close.

Other equities research analysts also recently issued reports about the stock. Loop Capital set a $113.00 price target on shares of Nasdaq in a research note on Friday, April 24th. Rothschild & Co Redburn set a $110.00 price objective on Nasdaq in a research note on Thursday, June 11th. TD Cowen lowered their target price on shares of Nasdaq from $104.00 to $98.00 and set a "buy" rating for the company in a report on Monday, June 22nd. Wall Street Zen raised shares of Nasdaq from a "sell" rating to a "hold" rating in a research report on Sunday, May 3rd. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Nasdaq in a report on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $106.92.

Nasdaq Price Performance

Nasdaq stock opened at $85.50 on Thursday. The stock has a market capitalization of $48.36 billion, a price-to-earnings ratio of 25.75, a PEG ratio of 1.72 and a beta of 0.99. Nasdaq has a 52-week low of $76.55 and a 52-week high of $101.79. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.00 and a current ratio of 1.00. The stock's 50 day moving average price is $87.34 and its two-hundred day moving average price is $89.07.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last released its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.03. The company had revenue of $2.14 billion during the quarter, compared to analyst estimates of $1.42 billion. Nasdaq had a net margin of 23.15% and a return on equity of 17.51%. Nasdaq's revenue for the quarter was up 13.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.79 EPS. On average, equities analysts predict that Nasdaq will post 3.87 earnings per share for the current year.

Insider Activity at Nasdaq

In other Nasdaq news, EVP Bradley J. Peterson sold 7,710 shares of the stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $90.82, for a total transaction of $700,222.20. Following the completion of the transaction, the executive vice president owned 141,035 shares in the company, valued at $12,808,798.70. This trade represents a 5.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Ab Investor acquired 56,782 shares of the business's stock in a transaction that occurred on Thursday, June 11th. The stock was acquired at an average cost of $85.98 per share, with a total value of $4,882,116.36. Following the completion of the acquisition, the insider owned 58,439,208 shares in the company, valued at $5,024,603,103.84. This trade represents a 0.10% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders sold 24,551 shares of company stock valued at $2,225,990 over the last quarter. 0.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Nasdaq

A number of large investors have recently modified their holdings of the company. Legal & General Group Plc raised its stake in Nasdaq by 1.6% in the fourth quarter. Legal & General Group Plc now owns 2,855,235 shares of the financial services provider's stock valued at $277,329,000 after purchasing an additional 45,783 shares in the last quarter. M&T Bank Corp lifted its position in Nasdaq by 27.5% during the fourth quarter. M&T Bank Corp now owns 61,076 shares of the financial services provider's stock valued at $5,933,000 after purchasing an additional 13,160 shares during the last quarter. AlphaCore Capital LLC purchased a new position in Nasdaq in the 4th quarter worth approximately $1,245,000. Advisors Preferred LLC purchased a new position in Nasdaq in the 4th quarter worth approximately $4,872,000. Finally, MKP Capital Management L.L.C. bought a new position in shares of Nasdaq in the 4th quarter worth $33,996,000. 72.47% of the stock is currently owned by institutional investors.

About Nasdaq

Nasdaq, Inc is a global financial technology company that operates one of the world's leading electronic securities exchanges and provides a broad array of products and services to capital markets participants. Its core activities include operating the Nasdaq Stock Market and other trading venues, developing and supplying market technology and matching engines to exchanges and trading firms, licensing market data and indices, and offering clearing, trade execution and post-trade solutions. The company also provides market surveillance, risk management and regulatory technology used by exchanges and regulators.

Founded in 1971 by the National Association of Securities Dealers (NASD) as the first electronic stock market, Nasdaq has evolved into a diversified marketplace and technology provider.

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