Nasdaq (NASDAQ:NDAQ) Given New $75.00 Price Target at Citigroup

Nasdaq (NASDAQ:NDAQ) had its price objective cut by analysts at Citigroup from $84.00 to $75.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. Citigroup’s target price points to a potential upside of 4.18% from the stock’s current price.

NDAQ has been the subject of several other reports. UBS Group upped their price objective on Nasdaq from $79.00 to $89.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. Royal Bank of Canada reissued an “outperform” rating and set a $95.00 price objective on shares of Nasdaq in a report on Thursday, January 30th. Piper Sandler lifted their price objective on shares of Nasdaq from $80.00 to $83.00 and gave the stock an “overweight” rating in a research note on Tuesday. Keefe, Bruyette & Woods lifted their price objective on shares of Nasdaq from $86.00 to $91.00 and gave the company an “outperform” rating in a report on Friday, December 20th. Finally, Morgan Stanley cut shares of Nasdaq from an “overweight” rating to an “equal weight” rating and set a $74.00 price objective for the company. in a research note on Tuesday. One analyst has rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $85.88.

Nasdaq Price Performance

NASDAQ:NDAQ opened at $71.99 on Tuesday. The firm has a market capitalization of $41.40 billion, a price-to-earnings ratio of 37.49, a P/E/G ratio of 2.12 and a beta of 1.02. Nasdaq has a 52-week low of $58.10 and a 52-week high of $84.15. The stock has a fifty day moving average of $77.24 and a 200 day moving average of $77.45. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.95 and a current ratio of 0.99.

Nasdaq (NASDAQ:NDAQ) last released its quarterly earnings data 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, research analysts expect that Nasdaq will post 3.18 EPS for the current fiscal year.

Insider Activity at Nasdaq

In other Nasdaq news, EVP Sarah Youngwood sold 14,959 shares of the business’s stock in a transaction 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 sale, the executive vice president now directly owns 59,694 shares of the company’s stock, valued at approximately $4,398,253.92. The trade was a 20.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Bryan Everard Smith sold 3,500 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $81.56, for a total value of $285,460.00. Following the sale, the executive vice president now owns 55,576 shares of the company’s stock, valued at approximately $4,532,778.56. This trade represents a 5.92 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,116 shares of company stock valued at $1,434,818. Corporate insiders own 0.70% of the company’s stock.

Hedge Funds Weigh In On Nasdaq

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Allworth Financial LP raised its stake in shares of Nasdaq by 12.3% during the 4th quarter. Allworth Financial LP now owns 1,292 shares of the financial services provider’s stock valued at $104,000 after buying an additional 141 shares during the last quarter. Harbor Capital Advisors Inc. lifted its holdings in Nasdaq by 1.5% in the fourth quarter. Harbor Capital Advisors Inc. now owns 9,818 shares of the financial services provider’s stock valued at $759,000 after acquiring an additional 148 shares during the last quarter. Brooklyn Investment Group lifted its holdings in Nasdaq by 8.5% in the fourth quarter. Brooklyn Investment Group now owns 1,899 shares of the financial services provider’s stock valued at $147,000 after acquiring an additional 148 shares during the last quarter. Crestwood Advisors Group LLC raised its position in Nasdaq by 4.1% in the fourth quarter. Crestwood Advisors Group LLC now owns 3,822 shares of the financial services provider’s stock valued at $295,000 after purchasing an additional 152 shares during the period. Finally, Laird Norton Wetherby Wealth Management LLC raised its position in Nasdaq by 1.0% in the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 16,303 shares of the financial services provider’s stock valued at $1,260,000 after purchasing an additional 157 shares in the last quarter. 72.47% of the stock is owned by institutional investors.

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.