Nasdaq (NASDAQ:NDAQ) Receives Outperform Rating from Royal Bank of Canada

Nasdaq (NASDAQ:NDAQ)‘s stock had its “outperform” rating restated by stock analysts at Royal Bank of Canada in a research note issued on Friday, Benzinga reports. They presently have a $88.00 target price on the financial services provider’s stock. Royal Bank of Canada’s price target indicates a potential upside of 17.82% from the stock’s current price.

Other equities analysts also recently issued research reports about the company. UBS Group increased their price target on Nasdaq from $73.00 to $79.00 and gave the company a “neutral” rating in a report on Tuesday, October 8th. The Goldman Sachs Group raised their target price on shares of Nasdaq from $77.00 to $83.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Oppenheimer boosted their target price on shares of Nasdaq from $84.00 to $86.00 and gave the stock an “outperform” rating in a research report on Friday. Keefe, Bruyette & Woods lifted their price objective on Nasdaq from $76.00 to $78.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Nasdaq from $66.00 to $72.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. One analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Nasdaq has an average rating of “Moderate Buy” and a consensus target price of $79.47.

Nasdaq Stock Performance

Shares of NDAQ opened at $74.69 on Friday. The firm has a market cap of $43.02 billion, a price-to-earnings ratio of 42.93, a price-to-earnings-growth ratio of 3.09 and a beta of 0.95. The company’s fifty day moving average is $72.56 and its 200-day moving average is $65.70. 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 has a 12 month low of $47.56 and a 12 month high of $75.68.

Nasdaq (NASDAQ:NDAQ) last posted its earnings results on Thursday, October 24th. The financial services provider reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.05. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.17 billion. Nasdaq had a return on equity of 15.45% and a net margin of 14.43%. The business’s revenue was up 21.9% compared to the same quarter last year. During the same period last year, the company earned $0.71 earnings per share. Equities analysts expect that Nasdaq will post 2.75 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder Seller Lp Argus sold 42,804,207 shares of Nasdaq stock in a transaction dated 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 directly owns 42,804,207 shares in the company, valued at approximately $2,764,295,688.06. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On Nasdaq

Institutional investors have recently added to or reduced their stakes in the stock. Cornerstone Wealth Group LLC bought a new position in shares of Nasdaq during the 3rd quarter worth approximately $225,000. SteelPeak Wealth LLC bought a new position in shares of Nasdaq during the third quarter valued at $257,000. First Trust Direct Indexing L.P. boosted its stake in shares of Nasdaq by 25.0% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 13,187 shares of the financial services provider’s stock valued at $963,000 after purchasing an additional 2,640 shares in the last quarter. New York State Teachers Retirement System boosted its stake in shares of Nasdaq by 0.4% in the 3rd quarter. New York State Teachers Retirement System now owns 329,905 shares of the financial services provider’s stock valued at $24,086,000 after purchasing an additional 1,276 shares in the last quarter. Finally, abrdn plc grew its holdings in shares of Nasdaq by 23.6% in the 3rd quarter. abrdn plc now owns 169,272 shares of the financial services provider’s stock worth $12,313,000 after purchasing an additional 32,370 shares during the last quarter. 72.47% of the stock is owned by institutional investors and hedge funds.

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.