TD Cowen Trims Nasdaq (NASDAQ:NDAQ) Target Price to $80.00

Nasdaq (NASDAQ:NDAQ) had its price objective dropped by analysts at TD Cowen from $81.00 to $80.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has a “hold” rating on the financial services provider’s stock. TD Cowen’s price objective suggests a potential upside of 6.27% from the stock’s current price.

NDAQ has been the topic of a number of other research reports. UBS Group lifted their price target on shares of Nasdaq from $73.00 to $79.00 and gave the company a “neutral” rating in a research note on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft lifted their target price on Nasdaq from $66.00 to $72.00 and gave the company a “hold” rating in a research report on Thursday, August 15th. Morgan Stanley lifted their price target on shares of Nasdaq from $92.00 to $93.00 and gave the company an “overweight” rating in a research note on Friday. Royal Bank of Canada restated an “outperform” rating and issued a $88.00 price target on shares of Nasdaq in a research note on Friday. Finally, Piper Sandler upped their price objective on Nasdaq from $73.00 to $80.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $79.27.

Nasdaq Trading Up 0.8 %

Shares of NASDAQ NDAQ traded up $0.59 during midday trading on Monday, reaching $75.28. 375,075 shares of the stock were exchanged, compared to its average volume of 2,884,800. Nasdaq has a 12 month low of $47.72 and a 12 month high of $75.68. The company has a market capitalization of $43.30 billion, a price-to-earnings ratio of 39.62, a P/E/G ratio of 3.09 and a beta of 0.95. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.94 and a quick ratio of 0.94. The business has a 50-day simple moving average of $72.56 and a two-hundred day simple moving average of $65.72.

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, topping the consensus estimate of $0.69 by $0.05. Nasdaq had a return on equity of 15.45% and a net margin of 14.43%. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period in the previous year, the company posted $0.71 earnings per share. The company’s revenue for the quarter was up 21.9% on a year-over-year basis. As a group, equities research analysts expect that Nasdaq will post 2.75 EPS for the current year.

Hedge Funds Weigh In On Nasdaq

Several institutional investors and hedge funds have recently added to or reduced their stakes in NDAQ. Janney Montgomery Scott LLC lifted its stake in shares of Nasdaq by 7.5% in the first quarter. Janney Montgomery Scott LLC now owns 240,851 shares of the financial services provider’s stock worth $15,198,000 after acquiring an additional 16,797 shares during the period. SG Americas Securities LLC lifted its position in shares of Nasdaq by 312.0% in the 1st quarter. SG Americas Securities LLC now owns 183,849 shares of the financial services provider’s stock worth $11,601,000 after purchasing an additional 139,228 shares during the period. Quantbot Technologies LP boosted its stake in shares of Nasdaq by 237.3% in the 1st quarter. Quantbot Technologies LP now owns 30,845 shares of the financial services provider’s stock valued at $1,946,000 after purchasing an additional 21,699 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Nasdaq by 12.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 517,000 shares of the financial services provider’s stock worth $32,624,000 after buying an additional 57,900 shares during the period. Finally, Swedbank AB bought a new position in Nasdaq during the first quarter worth $2,595,000. 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.