Oppenheimer Forecasts Strong Price Appreciation for Nasdaq (NASDAQ:NDAQ) Stock

Nasdaq (NASDAQ:NDAQ - Get Free Report) had its target price lifted by equities researchers at Oppenheimer from $85.00 to $96.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an "outperform" rating on the financial services provider's stock. Oppenheimer's price objective would indicate a potential upside of 11.65% from the company's current price.

A number of other analysts have also commented on the company. UBS Group reissued a "cautious" rating on shares of Nasdaq in a report on Monday, April 28th. Keefe, Bruyette & Woods raised their target price on Nasdaq from $87.00 to $88.00 and gave the stock an "outperform" rating in a report on Friday, April 25th. Piper Sandler increased their price target on Nasdaq from $80.00 to $83.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 8th. Redburn Atlantic upgraded 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, Citigroup reduced their target price on shares of Nasdaq from $84.00 to $75.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat, Nasdaq has an average rating of "Moderate Buy" and a consensus price target of $87.19.

Nasdaq Trading Down 0.8%

Nasdaq stock traded down $0.70 during trading hours on Tuesday, reaching $85.98. The company had a trading volume of 889,832 shares, compared to its average volume of 2,974,170. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.99 and a quick ratio of 0.95. Nasdaq has a 12-month low of $58.28 and a 12-month high of $87.50. The company has a 50-day moving average price of $79.13 and a 200 day moving average price of $78.59. The firm has a market cap of $49.36 billion, a price-to-earnings ratio of 44.79, a P/E/G ratio of 2.12 and a beta of 1.00.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.79 EPS for the quarter, topping the consensus estimate of $0.77 by $0.02. The business had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.22 billion. Nasdaq had a net margin of 15.10% and a return on equity of 14.82%. The company's revenue for the quarter was up 10.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.63 EPS. Equities analysts forecast that Nasdaq will post 3.18 earnings per share for the current year.

Insider Activity

In related news, EVP Bryan Everard Smith sold 657 shares of the business's stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $71.81, for a total value of $47,179.17. Following the completion of the transaction, the executive vice president now owns 61,980 shares of the company's stock, valued at $4,450,783.80. The trade was a 1.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Pc Nelson Griggs sold 8,000 shares of Nasdaq stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $83.03, for a total value of $664,240.00. Following the completion of the transaction, the insider now owns 211,405 shares in the company, valued at $17,552,957.15. This represents a 3.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.70% of the company's stock.

Institutional Trading of Nasdaq

A number of institutional investors have recently modified their holdings of the company. Grove Bank & Trust grew its holdings in Nasdaq by 194.6% in the first quarter. Grove Bank & Trust now owns 327 shares of the financial services provider's stock worth $25,000 after purchasing an additional 216 shares during the last quarter. Rakuten Securities Inc. purchased a new stake in Nasdaq during the 4th quarter worth approximately $26,000. Highline Wealth Partners LLC increased its stake in Nasdaq by 1,509.5% during the 1st quarter. Highline Wealth Partners LLC now owns 338 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 317 shares in the last quarter. Opal Wealth Advisors LLC purchased a new stake in shares of Nasdaq during the first quarter valued at $26,000. Finally, First Command Advisory Services Inc. purchased a new position in Nasdaq in the 1st quarter worth $30,000. 72.47% of the stock is currently owned by 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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