Nasdaq (NASDAQ:NDAQ) Price Target Raised to $75.00 at Oppenheimer

Nasdaq (NASDAQ:NDAQ) had its price objective lifted by Oppenheimer from $72.00 to $75.00 in a report published on Friday, Benzinga reports. The brokerage currently has an outperform rating on the financial services provider’s stock.

A number of other equities research analysts also recently weighed in on NDAQ. Argus raised their target price on Nasdaq from $64.00 to $66.00 and gave the company a buy rating in a report on Tuesday, May 14th. Barclays raised their price objective on Nasdaq from $74.00 to $77.00 and gave the company an overweight rating in a research note on Friday. Rosenblatt Securities cut shares of Nasdaq from a buy rating to a neutral rating and dropped their target price for the stock from $76.00 to $64.00 in a report on Wednesday, May 8th. Keefe, Bruyette & Woods lifted their price target on shares of Nasdaq from $76.00 to $78.00 and gave the company an outperform rating in a report on Friday. Finally, Morgan Stanley raised shares of Nasdaq from an equal weight rating to an overweight rating and increased their price objective for the company from $59.00 to $80.00 in a research note on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $68.25.

Nasdaq Stock Performance

NDAQ opened at $67.92 on Friday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.99 and a current ratio of 0.94. Nasdaq has a 52-week low of $46.88 and a 52-week high of $68.40. The firm has a market cap of $39.07 billion, a P/E ratio of 35.75, a price-to-earnings-growth ratio of 3.07 and a beta of 0.94. The business’s fifty day moving average is $61.01 and its 200-day moving average is $59.89.

Nasdaq (NASDAQ:NDAQ) last released its earnings results on Thursday, July 25th. The financial services provider reported $0.69 EPS for the quarter, beating the consensus estimate of $0.64 by $0.05. Nasdaq had a net margin of 14.43% and a return on equity of 15.45%. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same period last year, the firm earned $0.71 EPS. The business’s quarterly revenue was up 25.3% compared to the same quarter last year. Sell-side analysts expect that Nasdaq will post 2.71 EPS for the current fiscal year.

Nasdaq Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.96 annualized dividend and a dividend yield of 1.41%. Nasdaq’s dividend payout ratio is 50.53%.

Insider Buying and Selling

In other Nasdaq news, EVP Bryan Everard Smith sold 3,036 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $59.89, for a total value of $181,826.04. Following the sale, the executive vice president now owns 58,636 shares in the company, valued at approximately $3,511,710.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Hobbs Group Advisors LLC bought a new position in Nasdaq during the second quarter worth $26,000. Salem Investment Counselors Inc. grew its holdings in Nasdaq by 89.3% during the 1st quarter. Salem Investment Counselors Inc. now owns 426 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 201 shares during the period. Turtle Creek Wealth Advisors LLC bought a new position in shares of Nasdaq in the 4th quarter worth about $29,000. Crewe Advisors LLC boosted its position in shares of Nasdaq by 164.4% during the 2nd quarter. Crewe Advisors LLC now owns 505 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 314 shares in the last quarter. Finally, LRI Investments LLC bought a new stake in shares of Nasdaq during the 1st quarter valued at about $31,000. 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.