Barclays Raises Nasdaq (NASDAQ:NDAQ) Price Target to $87.00

Nasdaq (NASDAQ:NDAQ) had its price target increased by Barclays from $84.00 to $87.00 in a research note released on Friday, Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

Other research analysts have also recently issued reports about the company. Bank of America dropped their target price on Nasdaq from $90.00 to $88.00 and set a “buy” rating on the stock in a research report on Thursday, October 3rd. TD Cowen initiated coverage on shares of Nasdaq in a research report on Thursday, September 26th. They set a “hold” rating and a $83.00 target price for the company. Morgan Stanley increased their price target on shares of Nasdaq from $92.00 to $93.00 and gave the stock an “overweight” rating in a research report on Friday. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Nasdaq from $66.00 to $72.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Finally, Keefe, Bruyette & Woods upped their price objective on Nasdaq from $76.00 to $78.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $79.47.

Nasdaq Stock Down 0.7 %

Shares of Nasdaq stock opened at $74.69 on Friday. The company has a 50-day simple moving average of $72.56 and a two-hundred day simple moving average of $65.72. The stock has a market capitalization of $43.02 billion, a PE ratio of 42.93, a price-to-earnings-growth ratio of 3.09 and a beta of 0.95. Nasdaq has a 52-week low of $47.56 and a 52-week high of $75.68. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.94 and a current ratio of 0.94.

Nasdaq (NASDAQ:NDAQ) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.74 EPS for the quarter, beating the consensus estimate of $0.69 by $0.05. The company had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.17 billion. Nasdaq had a return on equity of 15.45% and a net margin of 14.43%. Nasdaq’s revenue was up 21.9% compared to the same quarter last year. During the same period last year, the firm posted $0.71 earnings per share. On average, analysts anticipate that Nasdaq will post 2.75 EPS for the current fiscal year.

Nasdaq Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date is Friday, December 6th. Nasdaq’s dividend payout ratio (DPR) is presently 55.17%.

Institutional Investors Weigh In On Nasdaq

A number of hedge funds have recently bought and sold shares of NDAQ. Cornerstone Wealth Group LLC bought a new stake in shares of Nasdaq in the 3rd quarter worth about $225,000. SteelPeak Wealth LLC bought a new stake in Nasdaq during the third quarter worth approximately $257,000. First Trust Direct Indexing L.P. raised its position in Nasdaq by 25.0% during the third quarter. First Trust Direct Indexing L.P. now owns 13,187 shares of the financial services provider’s stock valued at $963,000 after purchasing an additional 2,640 shares during the period. New York State Teachers Retirement System lifted its stake in shares of Nasdaq by 0.4% in the 3rd quarter. New York State Teachers Retirement System now owns 329,905 shares of the financial services provider’s stock valued at $24,086,000 after purchasing an additional 1,276 shares during the last quarter. Finally, abrdn plc boosted its holdings in shares of Nasdaq by 23.6% in the 3rd quarter. abrdn plc now owns 169,272 shares of the financial services provider’s stock worth $12,313,000 after purchasing an additional 32,370 shares during the period. Hedge funds and other institutional investors own 72.47% of the company’s stock.

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.