Barclays Cuts Nasdaq (NASDAQ:NDAQ) Price Target to $73.00

Nasdaq (NASDAQ:NDAQ - Get Free Report) had its target price decreased by investment analysts at Barclays from $76.00 to $73.00 in a report released on Friday, Benzinga reports. The firm presently has an "overweight" rating on the financial services provider's stock. Barclays's target price suggests a potential upside of 21.42% from the company's current price.

A number of other analysts also recently issued reports on the company. UBS Group raised their target price on Nasdaq from $56.00 to $60.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 24th. Citigroup raised their target price on Nasdaq from $56.00 to $63.00 and gave the stock a "neutral" rating in a research note on Friday, January 12th. The Goldman Sachs Group raised Nasdaq from a "neutral" rating to a "buy" rating and set a $73.00 target price for the company in a research note on Tuesday, March 26th. StockNews.com upgraded Nasdaq from a "sell" rating to a "hold" rating in a report on Wednesday, March 27th. Finally, Piper Sandler increased their price target on Nasdaq from $70.00 to $71.00 and gave the stock an "overweight" rating in a report on Thursday, February 1st. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $66.92.

Nasdaq Price Performance

NASDAQ NDAQ traded down $0.17 during mid-day trading on Friday, hitting $60.12. The stock had a trading volume of 4,792,085 shares, compared to its average volume of 3,181,565. The firm's 50 day moving average is $59.93 and its 200 day moving average is $56.46. Nasdaq has a twelve month low of $46.88 and a twelve month high of $64.25. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market capitalization of $34.58 billion, a price-to-earnings ratio of 28.49, a PEG ratio of 2.82 and a beta of 0.93.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last posted its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.63 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.02). Nasdaq had a net margin of 17.48% and a return on equity of 19.28%. The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same period in the prior year, the company posted $0.69 earnings per share. The firm's revenue for the quarter was up 22.2% compared to the same quarter last year. Equities research analysts forecast that Nasdaq will post 2.75 earnings per share for the current fiscal year.

Insider Activity at Nasdaq

In other Nasdaq news, major shareholder Dubai Ltd Borse sold 31,000,000 shares of the stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $58.00, for a total value of $1,798,000,000.00. Following the sale, the insider now owns 58,341,545 shares of the company's stock, valued at approximately $3,383,809,610. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Nasdaq news, major shareholder Dubai Ltd Borse sold 31,000,000 shares of the stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $58.00, for a total value of $1,798,000,000.00. Following the sale, the insider now owns 58,341,545 shares of the company's stock, valued at approximately $3,383,809,610. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Bryan Everard Smith sold 7,400 shares of the firm's stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $62.91, for a total value of $465,534.00. Following the sale, the executive vice president now directly owns 61,672 shares in the company, valued at approximately $3,879,785.52. The disclosure for this sale can be found here. 0.75% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Nasdaq

Hedge funds and other institutional investors have recently made changes to their positions in the business. Loomis Sayles & Co. L P acquired a new position in Nasdaq during the third quarter worth approximately $26,000. Salem Investment Counselors Inc. increased its position in Nasdaq by 89.3% during the first quarter. Salem Investment Counselors Inc. now owns 426 shares of the financial services provider's stock worth $27,000 after buying an additional 201 shares during the period. Turtle Creek Wealth Advisors LLC acquired a new position in Nasdaq during the fourth quarter worth approximately $29,000. Carmel Capital Partners LLC acquired a new position in Nasdaq during the third quarter worth approximately $32,000. Finally, Allworth Financial LP increased its position in Nasdaq by 74.9% during the fourth quarter. Allworth Financial LP now owns 815 shares of the financial services provider's stock worth $47,000 after buying an additional 349 shares during the period. Institutional investors and hedge funds 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.