Oppenheimer Reiterates “Outperform” Rating for Nasdaq (NASDAQ:NDAQ)

Nasdaq (NASDAQ:NDAQ)‘s stock had its “outperform” rating reiterated by equities research analysts at Oppenheimer in a research note issued to investors on Tuesday, Marketbeat Ratings reports. They currently have a $101.00 price objective on the financial services provider’s stock, up from their previous price objective of $96.00. Oppenheimer’s price objective suggests a potential upside of 13.43% from the company’s previous close.

A number of other equities research analysts have also recently commented on NDAQ. Redburn Atlantic upgraded Nasdaq from a “neutral” rating to a “buy” rating and set a $91.00 target price on the stock in a report on Thursday, April 17th. UBS Group increased their price objective on Nasdaq from $82.00 to $95.00 and gave the company a “neutral” rating in a research note on Thursday, July 10th. Bank of America boosted their target price on shares of Nasdaq from $103.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, April 2nd. Barclays upped their target price on shares of Nasdaq from $84.00 to $101.00 and gave the company an “overweight” rating in a report on Thursday, July 10th. Finally, Citigroup reiterated a “neutral” rating on shares of Nasdaq in a report on Wednesday, July 9th. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $92.63.

Nasdaq Trading Up 0.7%

NASDAQ:NDAQ opened at $89.04 on Tuesday. Nasdaq has a 52-week low of $62.21 and a 52-week high of $90.84. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.77. The stock has a fifty day simple moving average of $85.49 and a 200-day simple moving average of $79.96. The company has a market capitalization of $51.12 billion, a PE ratio of 40.47, a price-to-earnings-growth ratio of 2.13 and a beta of 1.01.

Nasdaq (NASDAQ:NDAQ) last announced its earnings results on Thursday, April 24th. The financial services provider reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.02. The company had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Nasdaq had a net margin of 16.36% and a return on equity of 15.38%. The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.63 earnings per share. On average, equities research analysts expect that Nasdaq will post 3.18 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Bradley J. Peterson sold 11,508 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $88.87, for a total transaction of $1,022,715.96. Following the completion of the sale, the executive vice president owned 111,035 shares of the company’s stock, valued at approximately $9,867,680.45. This represents a 9.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Pc Nelson Griggs sold 8,000 shares of Nasdaq stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $83.03, for a total transaction of $664,240.00. Following the transaction, the insider directly owned 211,405 shares in the company, valued at approximately $17,552,957.15. This trade represents a 3.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,613 shares of company stock valued at $1,874,659 in the last three months. Corporate insiders own 0.70% of the company’s stock.

Hedge Funds Weigh In On Nasdaq

Hedge funds and other institutional investors have recently made changes to their positions in the business. Grove Bank & Trust lifted its stake in shares of Nasdaq by 194.6% during the first quarter. Grove Bank & Trust now owns 327 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 216 shares in the last quarter. Bruce G. Allen Investments LLC grew its stake in shares of Nasdaq by 72.7% in the second quarter. Bruce G. Allen Investments LLC now owns 285 shares of the financial services provider’s stock valued at $25,000 after buying an additional 120 shares in the last quarter. Highline Wealth Partners LLC raised its holdings in shares of Nasdaq by 1,509.5% during the 1st quarter. Highline Wealth Partners LLC now owns 338 shares of the financial services provider’s stock valued at $26,000 after buying an additional 317 shares during the period. Opal Wealth Advisors LLC acquired a new position in Nasdaq during the 1st quarter worth approximately $26,000. Finally, First Command Advisory Services Inc. acquired a new position in Nasdaq during the 1st quarter worth approximately $30,000. Institutional investors and hedge funds 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.