Oppenheimer Forecasts Strong Price Appreciation for Nasdaq (NASDAQ:NDAQ) Stock

Nasdaq (NASDAQ:NDAQ - Get Free Report) had its price target boosted by stock analysts at Oppenheimer from $86.00 to $89.00 in a report released on Monday,Benzinga reports. The firm currently has an "outperform" rating on the financial services provider's stock. Oppenheimer's price objective would suggest a potential upside of 16.83% from the company's current price.

Several other analysts have also recently issued reports on the stock. Argus boosted their price objective on shares of Nasdaq from $76.00 to $82.00 and gave the company a "buy" rating in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft raised Nasdaq from a "hold" rating to a "buy" rating and boosted their price target for the company from $80.00 to $98.00 in a research report on Wednesday, January 8th. Barclays cut their price objective on Nasdaq from $97.00 to $96.00 and set an "overweight" rating on the stock in a report on Monday. Keefe, Bruyette & Woods boosted their target price on Nasdaq from $86.00 to $91.00 and gave the stock an "outperform" rating in a report on Friday, December 20th. Finally, Morgan Stanley raised their price target on shares of Nasdaq from $92.00 to $93.00 and gave the company an "overweight" rating in a report on Friday, October 25th. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $85.73.

Nasdaq Trading Up 0.4 %

NASDAQ NDAQ traded up $0.30 during mid-day trading on Monday, reaching $76.18. 1,708,387 shares of the stock were exchanged, compared to its average volume of 2,857,144. The stock has a market capitalization of $43.79 billion, a PE ratio of 45.62, a PEG ratio of 3.12 and a beta of 0.98. 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 has a 1-year low of $54.90 and a 1-year high of $83.77. The business's fifty day simple moving average is $79.29 and its 200 day simple moving average is $73.00.

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

Insider Buying and Selling at Nasdaq

In other news, EVP Jeremy Skule sold 12,000 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $77.92, for a total transaction of $935,040.00. Following 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Pc Nelson Griggs sold 5,742 shares of the business's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $77.34, for a total value of $444,086.28. Following the completion of the sale, the insider now directly owns 205,821 shares of the company's stock, valued at approximately $15,918,196.14. This represents a 2.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 49,459 shares of company stock worth $3,811,808 in the last 90 days. 0.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Cumberland Partners Ltd bought a new position in Nasdaq during the third quarter worth $10,400,000. Nomura Asset Management Co. Ltd. raised its holdings in shares of Nasdaq by 49.8% during the third quarter. Nomura Asset Management Co. Ltd. now owns 164,179 shares of the financial services provider's stock worth $11,987,000 after purchasing an additional 54,594 shares during the period. Thompson Siegel & Walmsley LLC bought a new position in shares of Nasdaq in the 3rd quarter worth about $2,701,000. Dimensional Fund Advisors LP boosted its holdings in shares of Nasdaq by 8.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,358,843 shares of the financial services provider's stock valued at $142,144,000 after buying an additional 174,778 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Nasdaq by 10.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,223,433 shares of the financial services provider's stock valued at $235,343,000 after buying an additional 313,079 shares during the last quarter. 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.