Nasdaq (NASDAQ:NDAQ) Given New $92.00 Price Target at Morgan Stanley

Nasdaq (NASDAQ:NDAQ) had its price objective hoisted by equities research analysts at Morgan Stanley from $85.00 to $92.00 in a research note issued on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Morgan Stanley’s price target indicates a potential upside of 23.86% from the stock’s current price.

Other analysts also recently issued research reports about the company. Keefe, Bruyette & Woods upped their price target on Nasdaq from $76.00 to $78.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Royal Bank of Canada reiterated an “outperform” rating and set a $88.00 price target on shares of Nasdaq in a report on Tuesday, October 8th. UBS Group boosted their price objective on shares of Nasdaq from $73.00 to $79.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 8th. Raymond James raised shares of Nasdaq from a “market perform” rating to an “outperform” rating and set a $82.00 price objective for the company in a report on Monday. Finally, Oppenheimer lifted their target price on shares of Nasdaq from $80.00 to $84.00 and gave the stock an “outperform” rating in a report on Monday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Nasdaq currently has an average rating of “Moderate Buy” and a consensus target price of $78.06.

Nasdaq Stock Up 0.7 %

NDAQ stock traded up $0.52 during trading hours on Thursday, hitting $74.28. The company’s stock had a trading volume of 1,148,104 shares, compared to its average volume of 2,901,054. The stock has a 50 day moving average price of $71.76 and a two-hundred day moving average price of $65.09. Nasdaq has a 12 month low of $47.56 and a 12 month high of $74.88. The company has a market capitalization of $42.73 billion, a PE ratio of 39.09, a price-to-earnings-growth ratio of 2.99 and a beta of 0.95. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.85.

Nasdaq (NASDAQ:NDAQ) last released its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.05. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.13 billion. Nasdaq had a net margin of 14.43% and a return on equity of 15.45%. Nasdaq’s quarterly revenue was up 25.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.71 EPS. On average, equities research analysts expect that Nasdaq will post 2.75 earnings per share for the current year.

Insider Transactions at Nasdaq

In other Nasdaq news, major shareholder Seller Lp Argus sold 42,804,207 shares of Nasdaq stock in a transaction on Monday, July 29th. The shares were sold at an average price of $64.58, for a total transaction of $2,764,295,688.06. Following the sale, the insider now owns 42,804,207 shares in the company, valued at $2,764,295,688.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NDAQ. Y.D. More Investments Ltd raised its stake in Nasdaq by 94.8% during the second quarter. Y.D. More Investments Ltd now owns 415 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 202 shares in the last quarter. Hobbs Group Advisors LLC bought a new stake in shares of Nasdaq in the 2nd quarter worth about $26,000. Salem Investment Counselors Inc. increased its position in shares of Nasdaq by 89.3% during the 1st quarter. Salem Investment Counselors Inc. now owns 426 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 201 shares in the last quarter. Crewe Advisors LLC lifted its holdings in Nasdaq by 164.4% during the 2nd quarter. Crewe Advisors LLC now owns 505 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 314 shares during the last quarter. Finally, LRI Investments LLC acquired a new position in Nasdaq in the first quarter valued at about $31,000. Institutional investors 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.