Nasdaq (NASDAQ:NDAQ) Price Target Raised to $113.00

Nasdaq (NASDAQ:NDAQ) had its target price lifted by equities research analysts at JPMorgan Chase & Co. from $111.00 to $113.00 in a report released on Monday,Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 13.77% from the company’s current price.

Several other equities research analysts also recently commented on NDAQ. Royal Bank Of Canada restated an “outperform” rating and set a $108.00 price objective on shares of Nasdaq in a report on Thursday, October 9th. UBS Group restated a “buy” rating and set a $120.00 price target on shares of Nasdaq in a research note on Monday. Barclays set a $115.00 price objective on shares of Nasdaq and gave the stock an “overweight” rating in a report on Thursday. Weiss Ratings reiterated a “buy (b-)” rating on shares of Nasdaq in a report on Tuesday, October 14th. Finally, Raymond James Financial reissued an “outperform” rating and set a $100.00 target price (up from $99.00) on shares of Nasdaq in a research report on Monday, October 13th. Fourteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Nasdaq currently has an average rating of “Moderate Buy” and a consensus target price of $103.00.

Nasdaq Stock Up 1.1%

Shares of Nasdaq stock traded up $1.09 during trading on Monday, reaching $99.33. 985,260 shares of the company traded hands, compared to its average volume of 3,255,564. The firm has a market capitalization of $56.71 billion, a PE ratio of 35.49, a P/E/G ratio of 1.58 and a beta of 1.01. Nasdaq has a 1-year low of $64.84 and a 1-year high of $101.21. The company has a 50 day moving average price of $92.08 and a 200-day moving average price of $91.65. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.99 and a quick ratio of 0.99.

Nasdaq (NASDAQ:NDAQ) last posted its quarterly earnings results on Tuesday, October 21st. The financial services provider reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.06. The firm had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.29 billion. Nasdaq had a net margin of 19.90% and a return on equity of 16.28%. The business’s revenue was up 14.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.74 earnings per share. As a group, equities research analysts expect that Nasdaq will post 3.18 earnings per share for the current fiscal year.

Insider Transactions at Nasdaq

In related news, EVP John Zecca sold 4,500 shares of the business’s stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $100.01, for a total value of $450,045.00. Following the sale, the executive vice president directly owned 125,674 shares in the company, valued at approximately $12,568,656.74. The trade was a 3.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Adena T. Friedman sold 300,000 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $96.39, for a total transaction of $28,917,000.00. Following the completion of the sale, the chief executive officer directly owned 1,924,903 shares in the company, valued at approximately $185,541,400.17. This trade represents a 13.48% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 306,605 shares of company stock worth $29,546,812. 0.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Nasdaq

A number of institutional investors have recently added to or reduced their stakes in NDAQ. Bruce G. Allen Investments LLC lifted its holdings in shares of Nasdaq by 72.7% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 285 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 120 shares during the last quarter. Front Row Advisors LLC bought a new stake in Nasdaq during the second quarter worth about $25,000. Twin Peaks Wealth Advisors LLC purchased a new position in shares of Nasdaq in the 2nd quarter worth about $27,000. Tripletail Wealth Management LLC bought a new position in shares of Nasdaq during the 3rd quarter valued at about $27,000. Finally, Access Investment Management LLC bought a new position in shares of Nasdaq during the 2nd quarter valued at about $28,000. 72.47% of the stock is currently owned by institutional investors.

About Nasdaq

Nasdaq, Inc is a global financial technology company that operates one of the world’s leading electronic securities exchanges and provides a broad array of products and services to capital markets participants. Its core activities include operating the Nasdaq Stock Market and other trading venues, developing and supplying market technology and matching engines to exchanges and trading firms, licensing market data and indices, and offering clearing, trade execution and post-trade solutions. The company also provides market surveillance, risk management and regulatory technology used by exchanges and regulators.

Founded in 1971 by the National Association of Securities Dealers (NASD) as the first electronic stock market, Nasdaq has evolved into a diversified marketplace and technology provider.