The Goldman Sachs Group Raises Nasdaq (NASDAQ:NDAQ) Price Target to $97.00

Nasdaq (NASDAQ:NDAQ - Get Free Report) had its target price hoisted by The Goldman Sachs Group from $85.00 to $97.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the financial services provider's stock. The Goldman Sachs Group's price objective indicates a potential upside of 7.86% from the company's current price.

Several other analysts have also recently issued reports on the company. UBS Group reaffirmed a "cautious" rating on shares of Nasdaq in a report on Monday, April 28th. Barclays decreased their price objective on Nasdaq from $86.00 to $84.00 and set an "overweight" rating on the stock in a report on Friday, April 25th. Oppenheimer set a $96.00 price objective on Nasdaq and gave the stock an "outperform" rating in a report on Tuesday, June 17th. Citigroup decreased their price objective on Nasdaq from $84.00 to $75.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Finally, Piper Sandler upped their price objective on Nasdaq from $80.00 to $83.00 and gave the stock an "overweight" rating in a report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $88.06.

Nasdaq Price Performance

NDAQ stock traded up $0.41 during midday trading on Wednesday, hitting $89.93. The company's stock had a trading volume of 1,433,250 shares, compared to its average volume of 3,055,672. Nasdaq has a 12 month low of $59.95 and a 12 month high of $90.35. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $51.63 billion, a price-to-earnings ratio of 40.88, a price-to-earnings-growth ratio of 2.32 and a beta of 1.01. The company has a 50 day moving average of $83.49 and a two-hundred day moving average of $79.33.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.02. Nasdaq had a return on equity of 15.38% and a net margin of 16.36%. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same period in the prior year, the company posted $0.63 EPS. The firm's revenue for the quarter was up 10.7% compared to the same quarter last year. On average, analysts expect that Nasdaq will post 3.18 EPS for the current year.

Insiders Place Their Bets

In other Nasdaq news, insider Pc Nelson Griggs sold 8,000 shares of the stock in a transaction 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 sale, the insider owned 211,405 shares in the company, valued at $17,552,957.15. This trade represents a 3.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Jeremy Skule sold 2,105 shares of the stock in a transaction 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 sale, the executive vice president 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. Insiders have sold a total of 21,613 shares of company stock worth $1,874,659 over the last quarter. Company insiders own 0.70% of the company's stock.

Institutional Trading of Nasdaq

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vestcor Inc grew its position in shares of Nasdaq by 1.6% during the 1st quarter. Vestcor Inc now owns 8,825 shares of the financial services provider's stock worth $669,000 after buying an additional 141 shares in the last quarter. Sax Wealth Advisors LLC grew its position in shares of Nasdaq by 0.5% during the 1st quarter. Sax Wealth Advisors LLC now owns 30,082 shares of the financial services provider's stock worth $2,282,000 after buying an additional 144 shares in the last quarter. Laird Norton Wetherby Wealth Management LLC grew its position in shares of Nasdaq by 1.0% during the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 16,303 shares of the financial services provider's stock worth $1,260,000 after buying an additional 157 shares in the last quarter. Gamco Investors INC. ET AL grew its position in shares of Nasdaq by 4.2% during the 4th quarter. Gamco Investors INC. ET AL now owns 4,103 shares of the financial services provider's stock worth $317,000 after buying an additional 164 shares in the last quarter. Finally, Wesbanco Bank Inc. grew its position in shares of Nasdaq by 7.1% during the 1st quarter. Wesbanco Bank Inc. now owns 2,829 shares of the financial services provider's stock worth $215,000 after buying an additional 187 shares in the last quarter. 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.