Nasdaq (NASDAQ:NDAQ) Price Target Raised to $104.00 at Keefe, Bruyette & Woods

Key Points

• Keefe, Bruyette & Woods raised their price target for Nasdaq (NDAQ) from $103 to $104, indicating a potential upside of 10.51% from the company’s previous close.
• The stock has received multiple upgrades from other research firms, with the average price target now at $95.31 and a consensus rating of "Moderate Buy".
• Nasdaq recently reported quarterly earnings of $0.85 per share, surpassing estimates and demonstrating a 12.7% increase in revenue year-over-year.
• Insider activity shows significant sales, with insiders selling 21,613 shares valued at nearly $1.9 million in the last 90 days.

Nasdaq (NASDAQ:NDAQ - Get Free Report) had its price objective upped by Keefe, Bruyette & Woods from $103.00 to $104.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an "outperform" rating on the financial services provider's stock. Keefe, Bruyette & Woods' target price suggests a potential upside of 10.51% from the company's previous close.

Several other research firms have also issued reports on NDAQ. Redburn Atlantic raised shares of Nasdaq from a "neutral" rating to a "buy" rating and set a $91.00 price objective for the company in a research note on Thursday, April 17th. Citigroup reissued a "neutral" rating on shares of Nasdaq in a research report on Wednesday, July 9th. Oppenheimer reissued an "outperform" rating and set a $101.00 target price (up previously from $96.00) on shares of Nasdaq in a research report on Tuesday, July 15th. Barclays boosted their target price on shares of Nasdaq from $84.00 to $101.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Finally, Morgan Stanley boosted their target price on shares of Nasdaq from $75.00 to $86.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat.com, Nasdaq currently has a consensus rating of "Moderate Buy" and an average price target of $95.31.

Nasdaq Stock Up 0.7%

NDAQ stock opened at $94.11 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.77. Nasdaq has a 1 year low of $64.33 and a 1 year high of $95.49. The company has a fifty day simple moving average of $86.62 and a 200 day simple moving average of $80.47. The firm has a market cap of $54.03 billion, a PE ratio of 42.78, a PEG ratio of 2.12 and a beta of 1.01.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last released its quarterly earnings data 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. Nasdaq had a net margin of 16.36% and a return on equity of 15.38%. The business had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the previous year, the business earned $0.69 EPS. Nasdaq's quarterly revenue was up 12.7% compared to the same quarter last year. Sell-side analysts anticipate that Nasdaq will post 3.18 EPS for the current fiscal year.

Insider Activity

In related news, insider Pc Nelson Griggs sold 8,000 shares of the company's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $83.03, for a total value of $664,240.00. Following the sale, the insider owned 211,405 shares of the company's stock, valued at $17,552,957.15. The trade was a 3.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Jeremy Skule sold 2,105 shares of the company's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $89.17, for a total transaction of $187,702.85. Following the completion of the sale, the executive vice president directly owned 94,656 shares in the company, valued at approximately $8,440,475.52. The trade was a 2.18% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,613 shares of company stock valued at $1,874,659. Insiders own 0.70% of the company's stock.

Institutional Trading of Nasdaq

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Apollon Wealth Management LLC increased its stake in Nasdaq by 20.0% in the second quarter. Apollon Wealth Management LLC now owns 12,931 shares of the financial services provider's stock valued at $1,156,000 after acquiring an additional 2,157 shares during the period. Trust Co. of Toledo NA OH bought a new stake in Nasdaq in the second quarter valued at about $136,000. Aberdeen Group plc grew its stake in Nasdaq by 3.7% during the second quarter. Aberdeen Group plc now owns 309,845 shares of the financial services provider's stock worth $27,573,000 after buying an additional 11,031 shares during the last quarter. Ramirez Asset Management Inc. grew its stake in Nasdaq by 385.6% during the second quarter. Ramirez Asset Management Inc. now owns 15,451 shares of the financial services provider's stock worth $1,382,000 after buying an additional 12,269 shares during the last quarter. Finally, IFP Advisors Inc grew its stake in Nasdaq by 2,307.8% during the second quarter. IFP Advisors Inc now owns 11,702 shares of the financial services provider's stock worth $1,060,000 after buying an additional 11,216 shares during the last quarter. Institutional investors own 72.47% of the company's stock.

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.

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