Oppenheimer Boosts Nasdaq (NASDAQ:NDAQ) Price Target to $89.00

Nasdaq (NASDAQ:NDAQ) had its target price upped by equities research analysts at Oppenheimer from $86.00 to $89.00 in a research report issued on Monday,Benzinga reports. The firm currently has an “outperform” rating on the financial services provider’s stock. Oppenheimer’s target price points to a potential upside of 16.87% from the stock’s previous close.

A number of other brokerages have also recently issued reports on NDAQ. Deutsche Bank Aktiengesellschaft upgraded Nasdaq from a “hold” rating to a “buy” rating and upped their price objective for the stock from $80.00 to $98.00 in a research note on Wednesday, January 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. Argus lifted their price target on Nasdaq from $76.00 to $82.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. 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. Finally, Raymond James lifted their price objective on shares of Nasdaq from $83.00 to $84.00 and gave the stock an “outperform” rating in a research report on Thursday. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, Nasdaq has a consensus rating of “Moderate Buy” and a consensus target price of $85.73.

Nasdaq Stock Up 0.4 %

NASDAQ NDAQ traded up $0.27 during trading on Monday, hitting $76.15. The stock had a trading volume of 382,649 shares, compared to its average volume of 2,657,055. The company has a market capitalization of $43.77 billion, a PE ratio of 45.60, a P/E/G ratio of 3.12 and a beta of 0.98. Nasdaq has a 12 month low of $54.90 and a 12 month high of $83.77. The company’s 50-day moving average price is $79.26 and its two-hundred day moving average price is $72.89. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.95 and a current ratio of 0.95.

Nasdaq (NASDAQ:NDAQ) last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.74 EPS for the quarter, topping the consensus estimate of $0.69 by $0.05. The firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.17 billion. Nasdaq had a net margin of 13.67% and a return on equity of 14.56%. The company’s revenue for the quarter was up 21.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.71 EPS. As a group, sell-side analysts forecast that Nasdaq will post 2.79 EPS for the current year.

Insider Activity at Nasdaq

In related news, 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 position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Jeremy Skule sold 12,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $77.92, for a total transaction of $935,040.00. Following the completion of the transaction, the executive vice president now owns 114,580 shares of the company’s stock, valued at approximately $8,928,073.60. This trade represents a 9.48 % decrease in their position. 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 insiders.

Institutional Investors Weigh In On Nasdaq

A number of institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP boosted its holdings in Nasdaq by 163.3% in the third quarter. Wellington Management Group LLP now owns 38,833,510 shares of the financial services provider’s stock valued at $2,835,235,000 after acquiring an additional 24,084,154 shares during the last quarter. State Street Corp lifted its position in shares of Nasdaq by 11.2% in the 3rd quarter. State Street Corp now owns 17,951,698 shares of the financial services provider’s stock worth $1,310,653,000 after purchasing an additional 1,811,616 shares during the period. Geode Capital Management LLC boosted its stake in shares of Nasdaq by 9.5% in the 3rd quarter. Geode Capital Management LLC now owns 10,761,240 shares of the financial services provider’s stock valued at $783,181,000 after purchasing an additional 932,665 shares during the last quarter. Harris Associates L P increased its position in shares of Nasdaq by 14.6% during the third quarter. Harris Associates L P now owns 8,596,022 shares of the financial services provider’s stock worth $627,596,000 after buying an additional 1,096,090 shares during the period. Finally, Mizuho Securities USA LLC increased its position in shares of Nasdaq by 13,532.3% during the third quarter. Mizuho Securities USA LLC now owns 4,000,000 shares of the financial services provider’s stock worth $292,040,000 after buying an additional 3,970,658 shares during the period. 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.