Nasdaq (NASDAQ:NDAQ – Free Report) had its price target upped by Keefe, Bruyette & Woods from $92.00 to $102.00 in a research note released on Friday,Benzinga reports. The brokerage currently has a market perform rating on the financial services provider’s stock.
Several other equities analysts have also commented on NDAQ. Weiss Ratings reissued a “buy (b)” rating on shares of Nasdaq in a research report on Monday, July 20th. TD Cowen reaffirmed a “buy” rating and issued a $105.00 target price (up from $101.00) on shares of Nasdaq in a research report on Monday, July 20th. Rothschild & Co Redburn set a $110.00 price target on shares of Nasdaq in a research note on Thursday, June 11th. Barclays reiterated an “overweight” rating and issued a $111.00 price target (up from $108.00) on shares of Nasdaq in a research note on Friday. Finally, Morgan Stanley reissued an “overweight” rating and set a $120.00 price target on shares of Nasdaq in a research report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $109.73.
Get Our Latest Report on Nasdaq
Nasdaq Stock Performance
Nasdaq (NASDAQ:NDAQ – Get Free Report) last announced its earnings results on Thursday, July 23rd. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.09. Nasdaq had a return on equity of 18.38% and a net margin of 22.60%.The firm had revenue of $2.53 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the prior year, the company earned $0.85 EPS. The business’s revenue was up 14.9% compared to the same quarter last year. As a group, analysts expect that Nasdaq will post 4.03 earnings per share for the current fiscal year.
Nasdaq Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 11th will be paid a dividend of $0.31 per share. The ex-dividend date is Friday, September 11th. This represents a $1.24 dividend on an annualized basis and a yield of 1.3%. Nasdaq’s payout ratio is presently 36.15%.
Insider Buying and Selling at Nasdaq
In related news, major shareholder Ab Investor purchased 56,782 shares of Nasdaq stock in a transaction dated Thursday, June 11th. The stock was purchased at an average cost of $85.98 per share, for a total transaction of $4,882,116.36. Following the completion of the acquisition, the insider directly owned 58,439,208 shares of the company’s stock, valued at $5,024,603,103.84. The trade was a 0.10% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Bradley J. Peterson sold 7,710 shares of the firm’s stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $90.82, for a total value of $700,222.20. Following the transaction, the executive vice president owned 141,035 shares of the company’s stock, valued at $12,808,798.70. The trade was a 5.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.60% of the company’s stock.
Institutional Trading of Nasdaq
Several institutional investors have recently bought and sold shares of the company. MV Capital Management Inc. purchased a new position in Nasdaq in the fourth quarter worth about $28,000. SOA Wealth Advisors LLC. purchased a new stake in shares of Nasdaq during the fourth quarter valued at approximately $34,000. Nemes Rush Group LLC purchased a new stake in shares of Nasdaq during the fourth quarter valued at approximately $35,000. Uniplan Investment Counsel Inc. bought a new stake in shares of Nasdaq during the fourth quarter valued at approximately $35,000. Finally, Fideuram Asset Management Ireland dac bought a new stake in shares of Nasdaq during the fourth quarter valued at approximately $37,000. 72.47% of the stock is owned by hedge funds and other institutional investors.
Key Headlines Impacting Nasdaq
Here are the key news stories impacting Nasdaq this week:
- Positive Sentiment: Nasdaq delivered a solid Q2 beat on both earnings and revenue, with strong growth in index and FinTech driving better-than-expected results and record Market Services performance. Article Title
- Positive Sentiment: The company announced a quarterly dividend of $0.31 per share, which may appeal to income-focused investors and signals continued shareholder returns. Article Title
- Positive Sentiment: Keefe, Bruyette & Woods lifted its price target to $102, indicating improved valuation expectations even though the rating remained market perform. Article Title
- Neutral Sentiment: Nasdaq’s July short-interest report showed 0 shares short and a 0.0-day days-to-cover figure, which appears more like a data anomaly than a meaningful trading signal. Article Title
- Neutral Sentiment: The company also ended its Miami case and sold its fund secondaries business, a portfolio move that may be viewed as strategic housekeeping rather than a major earnings driver. Article Title
About Nasdaq
Nasdaq, Inc is a global financial technology company that operates one of the world’s leading electronic securities exchanges and provides a broad array of products and services to capital markets participants. Its core activities include operating the Nasdaq Stock Market and other trading venues, developing and supplying market technology and matching engines to exchanges and trading firms, licensing market data and indices, and offering clearing, trade execution and post-trade solutions. The company also provides market surveillance, risk management and regulatory technology used by exchanges and regulators.
Founded in 1971 by the National Association of Securities Dealers (NASD) as the first electronic stock market, Nasdaq has evolved into a diversified marketplace and technology provider.
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