Barclays Cuts Nasdaq (NASDAQ:NDAQ) Price Target to $73.00

Nasdaq (NASDAQ:NDAQ) had its price target lowered by analysts at Barclays from $76.00 to $73.00 in a research report issued on Friday, Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Barclays‘s price objective suggests a potential upside of 21.63% from the company’s current price.

A number of other research analysts have also weighed in on the stock. The Goldman Sachs Group raised shares of Nasdaq from a “neutral” rating to a “buy” rating and set a $73.00 price target on the stock in a research note on Tuesday, March 26th. Oppenheimer boosted their price objective on shares of Nasdaq from $65.00 to $68.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. Edward Jones started coverage on shares of Nasdaq in a research report on Wednesday, April 3rd. They issued a “buy” rating on the stock. StockNews.com raised shares of Nasdaq from a “sell” rating to a “hold” rating in a research report on Wednesday, March 27th. Finally, Piper Sandler boosted their price objective on shares of Nasdaq from $70.00 to $71.00 and gave the stock an “overweight” rating in a research report on Thursday, February 1st. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Nasdaq currently has a consensus rating of “Moderate Buy” and an average target price of $66.92.

Nasdaq Trading Down 0.4 %

Shares of NASDAQ:NDAQ traded down $0.27 during trading on Friday, hitting $60.02. 1,779,780 shares of the company’s stock were exchanged, compared to its average volume of 3,131,431. Nasdaq has a 1-year low of $46.88 and a 1-year high of $64.25. The firm has a 50-day moving average price of $59.84 and a two-hundred day moving average price of $56.39. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.94. The firm has a market cap of $34.52 billion, a P/E ratio of 28.25, a PEG ratio of 2.82 and a beta of 0.93.

Nasdaq (NASDAQ:NDAQ) last issued its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.02). The firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.11 billion. Nasdaq had a net margin of 17.48% and a return on equity of 19.28%. The firm’s revenue for the quarter was up 22.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.69 EPS. Equities analysts predict that Nasdaq will post 2.75 earnings per share for the current year.

Insider Buying and Selling at Nasdaq

In other news, EVP Bryan Everard Smith sold 7,400 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $62.91, for a total value of $465,534.00. Following the transaction, the executive vice president now owns 61,672 shares of the company’s stock, valued at $3,879,785.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Nasdaq news, major shareholder Dubai Ltd Borse sold 31,000,000 shares of the stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $58.00, for a total transaction of $1,798,000,000.00. Following the transaction, the insider now owns 58,341,545 shares in the company, valued at approximately $3,383,809,610. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Bryan Everard Smith sold 7,400 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $62.91, for a total value of $465,534.00. Following the transaction, the executive vice president now owns 61,672 shares in the company, valued at approximately $3,879,785.52. The disclosure for this sale can be found here. Insiders own 0.75% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Thoma Bravo L.P. bought a new position in shares of Nasdaq in the fourth quarter worth $4,166,454,000. Vanguard Group Inc. increased its position in shares of Nasdaq by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 45,065,891 shares of the financial services provider’s stock worth $2,620,131,000 after purchasing an additional 745,965 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of Nasdaq by 214.0% in the third quarter. The Manufacturers Life Insurance Company now owns 6,281,617 shares of the financial services provider’s stock worth $305,224,000 after purchasing an additional 4,280,846 shares during the period. Ameriprise Financial Inc. increased its position in shares of Nasdaq by 16.6% in the third quarter. Ameriprise Financial Inc. now owns 4,787,784 shares of the financial services provider’s stock worth $232,564,000 after purchasing an additional 681,238 shares during the period. Finally, Norges Bank bought a new position in shares of Nasdaq in the fourth quarter worth $239,347,000. 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.