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

Key Points

• TD Cowen raised its price objective for Nasdaq stock from $94.00 to $96.00, indicating an 8.95% potential upside from its current price and maintaining a "hold" rating.
• Several analysts, including Deutsche Bank and Oppenheimer, have positive outlooks on Nasdaq with target prices ranging up to $108.00, while the consensus rating remains a "Moderate Buy."
• Nasdaq reported a net income of $0.88 per share, beating expectations and showing a 14.7% increase in revenue year-over-year, with a total revenue of $1.32 billion for the quarter.

Nasdaq (NASDAQ:NDAQ - Get Free Report) had its price objective upped by equities research analysts at TD Cowen from $94.00 to $96.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a "hold" rating on the financial services provider's stock. TD Cowen's price target suggests a potential upside of 8.95% from the stock's current price.

NDAQ has been the topic of a number of other reports. Deutsche Bank Aktiengesellschaft raised their target price on Nasdaq from $97.00 to $105.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Oppenheimer restated an "outperform" rating and set a $101.00 price objective (up previously from $96.00) on shares of Nasdaq in a research report on Tuesday, July 15th. The Goldman Sachs Group restated a "buy" rating on shares of Nasdaq in a research report on Friday, July 25th. Morgan Stanley set a $90.00 price target on Nasdaq and gave the stock an "equal weight" rating in a research report on Wednesday, October 1st. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $108.00 price target on shares of Nasdaq in a research report on Thursday, October 9th. Fifteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $98.56.

Nasdaq Stock Down 2.5%

NDAQ stock traded down $2.21 during midday trading on Wednesday, hitting $88.12. The company's stock had a trading volume of 1,112,388 shares, compared to its average volume of 3,343,071. The company has a market cap of $50.56 billion, a PE ratio of 33.95, a P/E/G ratio of 1.98 and a beta of 0.98. Nasdaq has a 12 month low of $64.84 and a 12 month high of $97.63. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.73. The firm's 50-day moving average is $91.64 and its 200-day moving average is $86.64.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last released its quarterly earnings results on Tuesday, October 21st. The financial services provider reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.06. The firm had revenue of $1.32 billion for the quarter, compared to analysts' expectations of $1.29 billion. Nasdaq had a return on equity of 15.90% and a net margin of 18.59%.The company's revenue was up 14.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.74 EPS. On average, equities research analysts forecast that Nasdaq will post 3.18 earnings per share for the current fiscal year.

Insider Activity at Nasdaq

In other Nasdaq news, SVP Michelle Lynn Daly sold 8,691 shares of the business's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $93.45, for a total transaction of $812,173.95. Following the completion of the transaction, the senior vice president owned 8,879 shares in the company, valued at $829,742.55. The trade was a 49.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Jeremy Skule sold 2,105 shares of the business's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $95.49, for a total value of $201,006.45. Following the completion of the sale, the executive vice president owned 92,551 shares of the company's stock, valued at $8,837,694.99. The trade was a 2.22% decrease in their position. The disclosure for this sale can be found here. 0.70% of the stock is owned by insiders.

Institutional Trading of Nasdaq

A number of large investors have recently modified their holdings of NDAQ. Bruce G. Allen Investments LLC raised its stake in Nasdaq by 72.7% in 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 in the last quarter. Front Row Advisors LLC bought a new position in Nasdaq in the second quarter worth approximately $25,000. Twin Peaks Wealth Advisors LLC bought a new position in Nasdaq in the second quarter worth approximately $27,000. Tripletail Wealth Management LLC bought a new position in Nasdaq in the third quarter worth approximately $27,000. Finally, Access Investment Management LLC bought a new position in Nasdaq in the second quarter worth approximately $28,000. Hedge funds and other institutional investors own 72.47% of the company's stock.

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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