Morgan Stanley Cuts Nasdaq (NASDAQ:NDAQ) Price Target to $239.00

Nasdaq (NASDAQ:NDAQ – Get Rating) had its target price reduced by equities researchers at Morgan Stanley from $245.00 to $239.00 in a report released on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Morgan Stanley’s price target suggests a potential upside of 38.30% from the company’s current price.

Other analysts have also issued reports about the company. UBS Group lowered their target price on Nasdaq from $238.00 to $225.00 and set a “buy” rating on the stock in a research note on Thursday, January 27th. Citigroup decreased their target price on Nasdaq from $188.00 to $184.00 in a research note on Wednesday, April 13th. Argus upgraded Nasdaq from a “hold” rating to a “buy” rating and set a $200.00 price objective for the company in a report on Monday, February 7th. Deutsche Bank Aktiengesellschaft dropped their target price on Nasdaq from $210.00 to $207.00 in a report on Thursday. Finally, Oppenheimer decreased their target price on Nasdaq from $230.00 to $217.00 and set an “outperform” rating for the company in a research report on Thursday, January 27th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $208.50.

NDAQ opened at $172.81 on Thursday. The business’s fifty day moving average is $175.02 and its 200-day moving average is $190.06. The firm has a market cap of $28.41 billion, a P/E ratio of 24.51, a price-to-earnings-growth ratio of 1.87 and a beta of 0.90. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.94 and a current ratio of 0.94. Nasdaq has a 52-week low of $156.72 and a 52-week high of $214.96.

Nasdaq (NASDAQ:NDAQ – Get Rating) last issued its earnings results on Wednesday, April 20th. The financial services provider reported $1.97 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.95 by $0.02. Nasdaq had a return on equity of 19.78% and a net margin of 20.14%. The business had revenue of $892.00 million during the quarter, compared to the consensus estimate of $892.18 million. During the same period in the previous year, the company posted $1.96 earnings per share. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. On average, research analysts predict that Nasdaq will post 7.92 earnings per share for the current fiscal year.

In other news, EVP Lauren B. Dillard sold 2,500 shares of Nasdaq stock in a transaction dated Tuesday, March 29th. The shares were sold at an average price of $180.00, for a total value of $450,000.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Bradley J. Peterson sold 7,500 shares of Nasdaq stock in a transaction dated Thursday, February 24th. The shares were sold at an average price of $163.79, for a total transaction of $1,228,425.00. The disclosure for this sale can be found here. Insiders own 0.60% of the company’s stock.

Several large investors have recently modified their holdings of NDAQ. Lindbrook Capital LLC grew its position in Nasdaq by 131.1% during the first quarter. Lindbrook Capital LLC now owns 141 shares of the financial services provider’s stock worth $25,000 after buying an additional 80 shares during the period. Riverview Trust Co acquired a new stake in shares of Nasdaq in the 1st quarter worth approximately $30,000. Pallas Capital Advisors LLC grew its holdings in shares of Nasdaq by 16.1% in the 1st quarter. Pallas Capital Advisors LLC now owns 10,216 shares of the financial services provider’s stock worth $1,824,000 after acquiring an additional 1,416 shares during the period. New England Research & Management Inc. acquired a new stake in shares of Nasdaq in the 1st quarter worth approximately $637,000. Finally, Xponance Inc. grew its holdings in shares of Nasdaq by 7.7% in the 1st quarter. Xponance Inc. now owns 11,447 shares of the financial services provider’s stock worth $2,040,000 after acquiring an additional 822 shares during the period. 71.78% of the stock is currently owned by institutional investors and hedge funds.

Nasdaq Company Profile (Get Rating)

Nasdaq, Inc operates as a technology company that serves capital markets and other industries worldwide. The Market Technology segment includes anti financial crime technology business, which offers Nasdaq Trade Surveillance, a SaaS solution for brokers and other market participants to assist them in complying with market rules, regulations, and internal market surveillance policies; Nasdaq Automated Investigator, a cloud-deployed anti-money laundering tool; and Verafin, a SaaS technology provider of anti-financial crime management solutions.

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