Nasdaq (NASDAQ:NDAQ) Price Target Raised to $104.00

Key Points

• Investment analysts at Piper Sandler raised Nasdaq's price target from $97.00 to $104.00, indicating a potential upside of 7.79% from its current price.
• Several other firms have also revised their ratings and price targets on Nasdaq, with a consensus rating of "Moderate Buy" and an average target price of $97.06.
• Nasdaq reported quarterly earnings with a revenue increase of 12.7% year-over-year, exceeding expectations with earnings per share of $0.85 compared to the consensus estimate of $0.78.

Nasdaq (NASDAQ:NDAQ - Free Report) had its price target hoisted by Piper Sandler from $97.00 to $104.00 in a report released on Monday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the financial services provider's stock.

Several other analysts have also commented on the stock. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Nasdaq in a research report on Friday, July 25th. Royal Bank Of Canada boosted their target price on Nasdaq from $95.00 to $108.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. Wall Street Zen raised shares of Nasdaq from a "sell" rating to a "hold" rating in a research note on Friday, April 18th. Raymond James Financial reaffirmed an "outperform" rating and set a $96.00 target price (up previously from $84.00) on shares of Nasdaq in a report on Wednesday, July 9th. Finally, UBS Group raised Nasdaq from a "neutral" rating to a "buy" rating and boosted their target price for the company from $95.00 to $115.00 in a research note on Friday, July 25th. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, Nasdaq presently has an average rating of "Moderate Buy" and a consensus target price of $97.06.

Nasdaq Trading Up 0.3%

Shares of NASDAQ NDAQ traded up $0.31 during midday trading on Monday, hitting $96.76. The stock had a trading volume of 511,248 shares, compared to its average volume of 3,323,454. The company's 50-day simple moving average is $89.40 and its 200 day simple moving average is $81.75. The firm has a market cap of $55.52 billion, a P/E ratio of 37.20, a price-to-earnings-growth ratio of 2.13 and a beta of 1.00. Nasdaq has a fifty-two week low of $64.84 and a fifty-two week high of $97.47. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.96 and a quick ratio of 0.96.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.07. The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.26 billion. Nasdaq had a return on equity of 15.90% and a net margin of 18.59%. The firm's quarterly revenue was up 12.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.69 EPS. Research analysts anticipate that Nasdaq will post 3.18 EPS for the current year.

Nasdaq Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, September 12th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.1%. Nasdaq's dividend payout ratio is presently 41.54%.

Insider Transactions at Nasdaq

In other Nasdaq news, EVP Bradley J. Peterson sold 11,508 shares of Nasdaq stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $88.87, for a total transaction of $1,022,715.96. Following the sale, the executive vice president owned 111,035 shares of the company's stock, valued at $9,867,680.45. The trade was a 9.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Pc Nelson Griggs sold 8,000 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $83.03, for a total transaction of $664,240.00. Following the completion of the sale, the insider owned 211,405 shares of the company's stock, valued at $17,552,957.15. This trade represents a 3.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 32,409 shares of company stock worth $2,887,839 over the last three months. 0.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Bruce G. Allen Investments LLC grew its holdings in Nasdaq by 72.7% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 285 shares of the financial services provider's stock valued at $25,000 after buying an additional 120 shares in the last quarter. Access Investment Management LLC purchased a new position in Nasdaq during the second quarter worth about $28,000. Grove Bank & Trust grew its stake in shares of Nasdaq by 194.6% in the 1st quarter. Grove Bank & Trust now owns 327 shares of the financial services provider's stock valued at $25,000 after buying an additional 216 shares during the period. Highline Wealth Partners LLC grew its stake in shares of Nasdaq by 1,509.5% in the 1st quarter. Highline Wealth Partners LLC now owns 338 shares of the financial services provider's stock valued at $26,000 after buying an additional 317 shares during the period. Finally, Opal Wealth Advisors LLC acquired a new stake in shares of Nasdaq during the 1st quarter worth approximately $26,000. 72.47% of the stock is currently owned by institutional investors and hedge funds.

About Nasdaq

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.