Nasdaq (NASDAQ:NDAQ) Price Target Raised to $83.00 at Piper Sandler

Nasdaq (NASDAQ:NDAQ) had its price target increased by Piper Sandler from $80.00 to $83.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Piper Sandler’s price objective would indicate a potential upside of 19.73% from the stock’s current price.

NDAQ has been the subject of several other research reports. Raymond James boosted their price objective on shares of Nasdaq from $83.00 to $84.00 and gave the company an “outperform” rating in a research note on Thursday, January 9th. JPMorgan Chase & Co. increased their price objective on Nasdaq from $88.00 to $95.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. UBS Group upped their target price on Nasdaq from $79.00 to $89.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. Morgan Stanley lowered Nasdaq from an “overweight” rating to an “equal weight” rating and set a $74.00 price objective for the company. in a report on Tuesday. Finally, Citigroup increased their price target on shares of Nasdaq from $78.00 to $84.00 and gave the stock a “neutral” rating in a report on Friday, January 10th. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Nasdaq presently has an average rating of “Moderate Buy” and a consensus price target of $86.44.

Nasdaq Stock Performance

Shares of Nasdaq stock traded up $1.58 during trading hours on Tuesday, reaching $69.32. The company had a trading volume of 1,476,877 shares, compared to its average volume of 2,790,133. The firm has a market cap of $39.87 billion, a PE ratio of 36.12, a price-to-earnings-growth ratio of 2.12 and a beta of 1.02. Nasdaq has a one year low of $58.10 and a one year high of $84.15. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.99 and a quick ratio of 0.95. The business has a fifty day simple moving average of $78.26 and a 200 day simple moving average of $77.64.

Nasdaq (NASDAQ:NDAQ) last issued its earnings results on Wednesday, January 29th. The financial services provider reported $0.76 EPS for the quarter, topping the consensus estimate of $0.74 by $0.02. Nasdaq had a return on equity of 14.82% and a net margin of 15.10%. On average, analysts anticipate that Nasdaq will post 3.18 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Sarah Youngwood sold 14,959 shares of Nasdaq stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $73.68, for a total value of $1,102,179.12. Following the completion of the transaction, the executive vice president now owns 59,694 shares in the company, valued at approximately $4,398,253.92. The trade was a 20.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Bryan Everard Smith sold 657 shares of the firm’s stock in a transaction on Friday, April 4th. The stock was sold at an average price of $71.81, for a total value of $47,179.17. Following the transaction, the executive vice president now owns 61,980 shares in the company, valued at $4,450,783.80. The trade was a 1.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,116 shares of company stock worth $1,434,818. 0.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NDAQ. Vanguard Group Inc. grew its stake in Nasdaq by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 52,576,413 shares of the financial services provider’s stock valued at $4,064,682,000 after purchasing an additional 376,893 shares during the last quarter. Geode Capital Management LLC boosted its stake in Nasdaq by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 11,018,705 shares of the financial services provider’s stock worth $849,783,000 after purchasing an additional 257,465 shares in the last quarter. Franklin Resources Inc. increased its stake in Nasdaq by 13.4% during the 4th quarter. Franklin Resources Inc. now owns 10,379,012 shares of the financial services provider’s stock valued at $802,401,000 after purchasing an additional 1,225,672 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Nasdaq by 5.1% during the fourth quarter. The Manufacturers Life Insurance Company now owns 6,954,334 shares of the financial services provider’s stock worth $537,640,000 after buying an additional 335,565 shares during the period. Finally, Ameriprise Financial Inc. grew its holdings in shares of Nasdaq by 37.9% during the fourth quarter. Ameriprise Financial Inc. now owns 6,005,047 shares of the financial services provider’s stock valued at $464,676,000 after buying an additional 1,650,201 shares during the last quarter. 72.47% of the stock is currently owned by institutional investors.

About Nasdaq

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.