Raymond James Issues Positive Forecast for Nasdaq (NASDAQ:NDAQ) Stock Price

Nasdaq (NASDAQ:NDAQ) had its target price upped by equities researchers at Raymond James from $83.00 to $84.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the financial services provider’s stock. Raymond James’ price objective would indicate a potential upside of 7.66% from the company’s previous close.

Several other analysts also recently weighed in on NDAQ. The Goldman Sachs Group boosted their price objective on shares of Nasdaq from $77.00 to $83.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. William Blair began coverage on shares of Nasdaq in a research note on Monday, November 25th. They issued an “outperform” rating for the company. Argus lifted their target price on Nasdaq from $76.00 to $82.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Piper Sandler boosted their target price on Nasdaq from $73.00 to $80.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Finally, TD Cowen dropped their price target on Nasdaq from $81.00 to $80.00 and set a “hold” rating on the stock in a research note on Monday, October 28th. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Nasdaq presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.73.

Nasdaq Stock Performance

NASDAQ:NDAQ opened at $78.02 on Thursday. The firm has a market capitalization of $44.84 billion, a PE ratio of 46.72, a price-to-earnings-growth ratio of 3.12 and a beta of 0.98. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.95 and a quick ratio of 0.95. The business’s fifty day moving average price is $79.15 and its 200 day moving average price is $72.56. Nasdaq has a 12 month low of $54.90 and a 12 month high of $83.77.

Nasdaq (NASDAQ:NDAQ) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.05. The business had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.17 billion. Nasdaq had a return on equity of 14.56% and a net margin of 13.67%. The business’s revenue for the quarter was up 21.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.71 EPS. On average, sell-side analysts anticipate that Nasdaq will post 2.79 earnings per share for the current fiscal year.

Insider Buying and Selling at Nasdaq

In other Nasdaq news, insider Pc Nelson Griggs sold 6,000 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $75.71, for a total value of $454,260.00. Following the completion of the transaction, the insider now owns 215,563 shares in the company, valued at approximately $16,320,274.73. This represents a 2.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Bradley J. Peterson sold 13,642 shares of the business’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $75.32, for a total transaction of $1,027,515.44. Following the sale, the executive vice president now owns 142,830 shares in the company, valued at $10,757,955.60. The trade was a 8.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 49,459 shares of company stock valued at $3,811,808. 0.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Nasdaq

A number of institutional investors and hedge funds have recently modified their holdings of the company. Y.D. More Investments Ltd lifted its holdings in Nasdaq by 94.8% in the 2nd quarter. Y.D. More Investments Ltd now owns 415 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 202 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new stake in shares of Nasdaq during the third quarter worth about $27,000. Claro Advisors LLC acquired a new position in shares of Nasdaq in the third quarter valued at approximately $33,000. Focused Wealth Management Inc purchased a new position in shares of Nasdaq during the third quarter valued at approximately $35,000. Finally, Peterson Financial Group Inc. purchased a new position in shares of Nasdaq during the third quarter valued at approximately $42,000. Institutional investors and hedge funds 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.