Nasdaq (NASDAQ:NDAQ) PT Raised to $122.00

Nasdaq (NASDAQ:NDAQ) had its price target increased by equities research analysts at Wells Fargo & Co from $111.00 to $122.00 in a note issued to investors on Tuesday, The Fly reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Co‘s price objective would suggest a potential upside of 13.13% from the stock’s previous close. The analysts noted that the move was a valuation call.

A number of other analysts have also recently weighed in on the stock. Deutsche Bank upped their target price on shares of Nasdaq from $110.00 to $111.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. BidaskClub cut shares of Nasdaq from a “buy” rating to a “hold” rating in a research note on Thursday, October 3rd. UBS Group cut shares of Nasdaq from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $113.00 to $107.00 in a research note on Friday, October 25th. Raymond James upped their price objective on shares of Nasdaq from $113.00 to $114.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, Credit Suisse Group started coverage on shares of Nasdaq in a research note on Monday, December 16th. They set an “outperform” rating on the stock. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. Nasdaq currently has an average rating of “Hold” and a consensus target price of $104.22.

NASDAQ NDAQ traded down $0.86 on Tuesday, reaching $107.84. The company’s stock had a trading volume of 9,215 shares, compared to its average volume of 508,029. The firm has a market cap of $17.55 billion, a PE ratio of 22.27, a price-to-earnings-growth ratio of 2.16 and a beta of 0.65. The business has a 50-day moving average price of $106.20 and a 200 day moving average price of $101.51. Nasdaq has a 52 week low of $81.01 and a 52 week high of $108.48. The company has a current ratio of 0.95, a quick ratio of 0.89 and a debt-to-equity ratio of 0.61.

Nasdaq (NASDAQ:NDAQ) last posted its earnings results on Wednesday, October 23rd. The financial services provider reported $1.27 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.21 by $0.06. The business had revenue of $632.00 million for the quarter, compared to analysts’ expectations of $627.44 million. Nasdaq had a net margin of 12.16% and a return on equity of 15.22%. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.13 earnings per share. Analysts anticipate that Nasdaq will post 4.98 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Nuveen Asset Management LLC lifted its holdings in Nasdaq by 444.4% in the second quarter. Nuveen Asset Management LLC now owns 588,135 shares of the financial services provider’s stock valued at $56,561,000 after buying an additional 480,100 shares during the period. Vanguard Group Inc. grew its position in shares of Nasdaq by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 12,624,390 shares of the financial services provider’s stock valued at $1,214,087,000 after acquiring an additional 190,311 shares during the period. Millennium Management LLC grew its position in shares of Nasdaq by 1,777.6% in the 3rd quarter. Millennium Management LLC now owns 163,894 shares of the financial services provider’s stock valued at $16,282,000 after acquiring an additional 155,165 shares during the period. First Trust Advisors LP grew its position in shares of Nasdaq by 34.0% in the 3rd quarter. First Trust Advisors LP now owns 502,239 shares of the financial services provider’s stock valued at $49,897,000 after acquiring an additional 127,342 shares during the period. Finally, California Public Employees Retirement System grew its position in shares of Nasdaq by 12.5% in the 2nd quarter. California Public Employees Retirement System now owns 861,375 shares of the financial services provider’s stock valued at $82,838,000 after acquiring an additional 95,408 shares during the period. 75.41% of the stock is currently owned by institutional investors and hedge funds.

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.

Further Reading: What is a Derivative?

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