Argus Forecasts Strong Price Appreciation for Nasdaq (NASDAQ:NDAQ) Stock

Nasdaq (NASDAQ:NDAQ) had its price target lifted by investment analysts at Argus from $76.00 to $82.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the financial services provider’s stock. Argus’ price target indicates a potential upside of 7.77% from the company’s current price.

A number of other research firms have also commented on NDAQ. Morgan Stanley upped their price objective on shares of Nasdaq from $92.00 to $93.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Bank of America reduced their price target on shares of Nasdaq from $90.00 to $88.00 and set a “buy” rating for the company in a research report on Thursday, October 3rd. Keefe, Bruyette & Woods lifted their price objective on shares of Nasdaq from $76.00 to $78.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Oppenheimer boosted their target price on shares of Nasdaq from $84.00 to $86.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Finally, UBS Group raised their target price on Nasdaq from $73.00 to $79.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $80.33.

Nasdaq Price Performance

Nasdaq stock traded up $1.28 during mid-day trading on Tuesday, hitting $76.09. The company’s stock had a trading volume of 797,706 shares, compared to its average volume of 2,881,813. The stock has a market capitalization of $43.73 billion, a P/E ratio of 45.59, a P/E/G ratio of 2.91 and a beta of 0.95. Nasdaq has a twelve month low of $50.05 and a twelve month high of $76.71. The stock’s fifty day moving average price is $73.11 and its two-hundred day moving average price is $66.32. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.84.

Nasdaq (NASDAQ:NDAQ) last issued its earnings results on Thursday, October 24th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.05. Nasdaq had a return on equity of 14.56% and a net margin of 13.67%. The business had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same period in the previous year, the firm posted $0.71 EPS. The company’s quarterly revenue was up 21.9% on a year-over-year basis. Research analysts forecast that Nasdaq will post 2.78 earnings per share for the current year.

Insider Transactions at Nasdaq

In other Nasdaq news, EVP Bradley J. Peterson sold 13,642 shares of the firm’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $75.32, for a total transaction of $1,027,515.44. Following the transaction, the executive vice president now directly owns 142,830 shares in the company, valued at $10,757,955.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Nasdaq news, EVP Bradley J. Peterson sold 13,642 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $75.32, for a total transaction of $1,027,515.44. Following the transaction, the executive vice president now owns 142,830 shares in the company, valued at $10,757,955.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Pc Nelson Griggs sold 6,000 shares of the stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $75.71, for a total value of $454,260.00. Following the transaction, the insider now owns 215,563 shares in the company, valued at approximately $16,320,274.73. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Nasdaq

A number of institutional investors have recently made changes to their positions in the business. Sumitomo Mitsui Trust Group Inc. grew its holdings in Nasdaq by 6.9% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,106,984 shares of the financial services provider’s stock valued at $80,821,000 after buying an additional 71,048 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in Nasdaq in the 3rd quarter worth approximately $58,000. Los Angeles Capital Management LLC increased its position in Nasdaq by 215.2% in the 3rd quarter. Los Angeles Capital Management LLC now owns 68,519 shares of the financial services provider’s stock worth $5,003,000 after buying an additional 46,780 shares during the period. State of New Jersey Common Pension Fund D increased its position in Nasdaq by 2.3% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 149,343 shares of the financial services provider’s stock worth $10,904,000 after buying an additional 3,367 shares during the period. Finally, Crossmark Global Holdings Inc. increased its position in Nasdaq by 8.9% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 28,343 shares of the financial services provider’s stock worth $2,070,000 after buying an additional 2,317 shares during the period. 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.