Nasdaq (NASDAQ:NDAQ) Rating Increased to Buy at UBS Group

Key Points

• UBS Group upgraded Nasdaq's rating from "neutral" to "buy," with a new price objective of $115.00, indicating a potential upside of 22.99% from its recent close.
• Other analysts have also issued positive ratings, with Goldman Sachs raising its target price to $97.00 and four analysts now recommending a "buy" rating.
• Nasdaq reported a quarterly earnings per share of $0.85, beating estimates and showing a 12.7% year-over-year revenue increase to $1.31 billion.

Nasdaq (NASDAQ:NDAQ - Get Free Report) was upgraded by UBS Group from a "neutral" rating to a "buy" rating in a research note issued on Friday,Benzinga reports. The brokerage currently has a $115.00 price objective on the financial services provider's stock, up from their previous price objective of $95.00. UBS Group's price objective suggests a potential upside of 22.99% from the company's previous close.

A number of other analysts have also weighed in on the stock. The Goldman Sachs Group raised their target price on shares of Nasdaq from $85.00 to $97.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Citigroup reaffirmed a "neutral" rating on shares of Nasdaq in a research note on Wednesday, July 9th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $95.00 price objective on shares of Nasdaq in a research note on Thursday, April 10th. Redburn Atlantic raised shares of Nasdaq from a "neutral" rating to a "buy" rating and set a $91.00 target price for the company in a research report on Thursday, April 17th. Finally, Wall Street Zen raised shares of Nasdaq from a "sell" rating to a "hold" rating in a research report on Friday, April 18th. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, Nasdaq currently has an average rating of "Moderate Buy" and a consensus target price of $94.31.

Nasdaq Stock Performance

Nasdaq stock opened at $93.50 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 market cap of $53.68 billion, a PE ratio of 42.50, a PEG ratio of 2.12 and a beta of 1.01. The company's 50-day moving average is $86.62 and its two-hundred day moving average is $80.47.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last announced its earnings results on Thursday, July 24th. The financial services provider reported $0.85 EPS for the quarter, topping the consensus estimate of $0.78 by $0.07. The firm had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.26 billion. Nasdaq had a net margin of 16.36% and a return on equity of 15.38%. The business's quarterly revenue was up 12.7% on a year-over-year basis. During the same period last year, the company posted $0.69 EPS. Equities analysts anticipate that Nasdaq will post 3.18 earnings per share for the current year.

Insider Activity

In related news, EVP Jeremy Skule sold 2,105 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $89.17, for a total value of $187,702.85. Following the completion of the transaction, the executive vice president directly owned 94,656 shares in the company, valued at approximately $8,440,475.52. This represents a 2.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Pc Nelson Griggs sold 8,000 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $83.03, for a total value of $664,240.00. Following the completion of the transaction, 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 disclosure for this sale can be found here. Insiders sold 21,613 shares of company stock worth $1,874,659 over the last ninety days. Corporate insiders own 0.70% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of NDAQ. Grove Bank & Trust boosted its position in shares of Nasdaq by 194.6% during the first quarter. Grove Bank & Trust now owns 327 shares of the financial services provider's stock worth $25,000 after buying an additional 216 shares during the period. Bruce G. Allen Investments LLC boosted its position in shares of Nasdaq by 72.7% during the second quarter. Bruce G. Allen Investments LLC now owns 285 shares of the financial services provider's stock worth $25,000 after buying an additional 120 shares during the period. Highline Wealth Partners LLC raised its stake in shares of Nasdaq by 1,509.5% in the first quarter. Highline Wealth Partners LLC now owns 338 shares of the financial services provider's stock valued at $26,000 after acquiring an additional 317 shares in the last quarter. Opal Wealth Advisors LLC acquired a new stake in shares of Nasdaq in the first quarter valued at $26,000. Finally, First Command Advisory Services Inc. acquired a new stake in shares of Nasdaq in the first quarter valued at $30,000. 72.47% of the stock is currently owned by hedge funds and other institutional investors.

Nasdaq Company Profile

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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