Nasdaq (NDAQ) Price Target Cut to $93.00

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Nasdaq (NASDAQ:NDAQ) had its price target cut by Citigroup from $95.00 to $93.00 in a research note published on Thursday. They currently have a neutral rating on the financial services provider’s stock.

Several other brokerages have also commented on NDAQ. ValuEngine lowered Nasdaq from a buy rating to a hold rating in a research note on Thursday, September 27th. BidaskClub lowered Nasdaq from a buy rating to a hold rating in a research note on Saturday, July 7th. Barclays upped their price target on Nasdaq from $90.00 to $96.00 and gave the company an overweight rating in a research note on Thursday, July 12th. Deutsche Bank decreased their price target on Nasdaq from $103.00 to $97.00 and set a buy rating on the stock in a research note on Thursday. Finally, Wells Fargo & Co reaffirmed a buy rating and issued a $104.00 price target on shares of Nasdaq in a research note on Friday, June 22nd. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $94.71.

NASDAQ NDAQ opened at $80.02 on Thursday. The firm has a market cap of $14.11 billion, a price-to-earnings ratio of 19.71, a P/E/G ratio of 1.86 and a beta of 0.65. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.56. Nasdaq has a fifty-two week low of $71.65 and a fifty-two week high of $96.84.

Nasdaq (NASDAQ:NDAQ) last released its quarterly earnings data on Wednesday, July 25th. The financial services provider reported $1.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.17 by $0.01. Nasdaq had a return on equity of 13.40% and a net margin of 18.13%. The company had revenue of $615.00 million for the quarter, compared to analyst estimates of $620.25 million. During the same quarter in the previous year, the company posted $1.02 earnings per share. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. Equities analysts anticipate that Nasdaq will post 4.82 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 28th. Investors of record on Friday, September 14th were issued a $0.44 dividend. The ex-dividend date of this dividend was Thursday, September 13th. This represents a $1.76 annualized dividend and a dividend yield of 2.20%. Nasdaq’s dividend payout ratio is presently 43.35%.

In related news, insider Bradley J. Peterson sold 1,500 shares of the business’s stock in a transaction on Tuesday, August 7th. The stock was sold at an average price of $93.34, for a total value of $140,010.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.40% of the stock is currently owned by insiders.

Several hedge funds have recently bought and sold shares of the stock. Iberiabank Corp purchased a new stake in shares of Nasdaq in the 3rd quarter valued at $2,880,000. DNB Asset Management AS raised its holdings in shares of Nasdaq by 4.3% in the 3rd quarter. DNB Asset Management AS now owns 14,500 shares of the financial services provider’s stock valued at $1,244,000 after buying an additional 600 shares during the period. Daiwa SB Investments Ltd. raised its holdings in shares of Nasdaq by 42.4% in the 3rd quarter. Daiwa SB Investments Ltd. now owns 9,130 shares of the financial services provider’s stock valued at $783,000 after buying an additional 2,720 shares during the period. Ibex Wealth Advisors raised its holdings in shares of Nasdaq by 6.0% in the 3rd quarter. Ibex Wealth Advisors now owns 32,700 shares of the financial services provider’s stock valued at $2,849,000 after buying an additional 1,856 shares during the period. Finally, Royal London Asset Management Ltd. purchased a new stake in shares of Nasdaq in the 2nd quarter valued at $4,383,000. Hedge funds and other institutional investors own 75.67% of the company’s stock.

Nasdaq Company Profile

Nasdaq, Inc provides trading, clearing, marketplace technology, regulatory, securities listing, information, and public and private company services worldwide. The company's Market Services segment offers equity derivative trading and clearing; cash equity trading; fixed income and commodities trading and clearing; and trade management services.

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