Royal Bank of Canada Reiterates Outperform Rating for Nasdaq (NASDAQ:NDAQ)

Nasdaq (NASDAQ:NDAQ)‘s stock had its “outperform” rating reaffirmed by analysts at Royal Bank of Canada in a research report issued to clients and investors on Friday, Benzinga reports. They presently have a $88.00 price target on the financial services provider’s stock. Royal Bank of Canada’s target price suggests a potential upside of 18.34% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. Piper Sandler upped their target price on shares of Nasdaq from $73.00 to $80.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. UBS Group boosted their price objective on Nasdaq from $73.00 to $79.00 and gave the company a “neutral” rating in a report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft increased their target price on Nasdaq from $66.00 to $72.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. The Goldman Sachs Group boosted their price target on Nasdaq from $77.00 to $83.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Finally, Raymond James raised Nasdaq from a “market perform” rating to an “outperform” rating and set a $82.00 price target on the stock in a research report on Monday, October 14th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $79.27.

Nasdaq Stock Down 1.2 %

NDAQ traded down $0.88 on Friday, reaching $74.36. The company’s stock had a trading volume of 751,102 shares, compared to its average volume of 2,889,777. Nasdaq has a 1 year low of $47.56 and a 1 year high of $75.60. The business’s 50 day moving average is $72.46 and its 200 day moving average is $65.60. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.94 and a quick ratio of 0.94. The stock has a market cap of $42.83 billion, a price-to-earnings ratio of 42.72, a price-to-earnings-growth ratio of 3.09 and a beta of 0.95.

Nasdaq (NASDAQ:NDAQ) last released its earnings results on Thursday, October 24th. The financial services provider reported $0.74 EPS for the quarter, beating the consensus estimate of $0.69 by $0.05. The company had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Nasdaq had a return on equity of 15.45% and a net margin of 14.43%. The business’s revenue was up 21.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.71 EPS. As a group, research analysts forecast that Nasdaq will post 2.75 EPS for the current fiscal year.

Insider Activity at Nasdaq

In other Nasdaq news, major shareholder Seller Lp Argus sold 42,804,207 shares of the firm’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $64.58, for a total transaction of $2,764,295,688.06. Following the transaction, the insider now owns 42,804,207 shares of the company’s stock, valued at approximately $2,764,295,688.06. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in Nasdaq by 7.0% during the 1st quarter. Vanguard Group Inc. now owns 48,239,872 shares of the financial services provider’s stock valued at $3,043,936,000 after purchasing an additional 3,173,981 shares in the last quarter. Farallon Capital Management LLC boosted its stake in Nasdaq by 28.4% during the first quarter. Farallon Capital Management LLC now owns 8,436,719 shares of the financial services provider’s stock valued at $532,357,000 after buying an additional 1,866,219 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its holdings in Nasdaq by 283.8% during the first quarter. CANADA LIFE ASSURANCE Co now owns 1,154,143 shares of the financial services provider’s stock worth $72,880,000 after acquiring an additional 853,414 shares during the period. Principal Financial Group Inc. raised its position in Nasdaq by 67.6% in the second quarter. Principal Financial Group Inc. now owns 2,022,546 shares of the financial services provider’s stock worth $121,879,000 after acquiring an additional 815,946 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. lifted its holdings in Nasdaq by 196.5% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 1,010,992 shares of the financial services provider’s stock valued at $63,793,000 after acquiring an additional 670,024 shares during the last quarter. Institutional investors and hedge funds own 72.47% of the company’s stock.

Nasdaq Company Profile

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.