Nasdaq (NASDAQ:NDAQ) Lowered to Hold at Zacks Investment Research

Nasdaq (NASDAQ:NDAQ) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday, Zacks.com reports. They currently have a $177.00 price target on the financial services provider’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 5.13% from the company’s current price.

According to Zacks, “Shares of Nasdaq have outperformed the industry in a year. The company has been successful in maximizing opportunities as a technology and analytics provider and growing core marketplace businesses. Focus on growth via acquisitions and organic initiatives, which aided its entry into new markets and helped it gain cross-selling opportunities, bodes well. Intense focus on Market Technology and Information Services businesses also helps the company to explore vast opportunities per its developmental strategies. A strong balance sheet and robust cash position help capitalize on growth opportunities. Nasdaq remains committed to deploy capital effectively by investing in organic growth initiatives. However, escalating expenses due to general and administrative costs weigh on margin expansion. Moreover, the company’s high debt level poses risk. “

NDAQ has been the subject of several other research reports. Oppenheimer upped their price target on Nasdaq from $170.00 to $182.00 and gave the stock an “outperform” rating in a report on Thursday, April 22nd. Rosenblatt Securities upped their price target on Nasdaq from $150.00 to $161.00 and gave the stock a “neutral” rating in a report on Monday, April 19th. Barclays upped their price objective on Nasdaq from $165.00 to $175.00 and gave the company an “overweight” rating in a research note on Thursday, April 22nd. Piper Sandler upped their price objective on Nasdaq from $160.00 to $165.00 and gave the company an “overweight” rating in a research note on Thursday, April 8th. Finally, Citigroup upped their price objective on Nasdaq from $147.00 to $164.00 in a research note on Tuesday, April 20th. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $159.50.

Shares of NASDAQ:NDAQ opened at $168.36 on Wednesday. The stock’s 50 day moving average price is $161.81. Nasdaq has a twelve month low of $112.23 and a twelve month high of $171.00. The firm has a market capitalization of $27.63 billion, a price-to-earnings ratio of 27.38, a price-to-earnings-growth ratio of 4.28 and a beta of 0.84. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.02 and a quick ratio of 1.02.

Nasdaq (NASDAQ:NDAQ) last announced its quarterly earnings results on Tuesday, April 20th. The financial services provider reported $1.96 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.74 by $0.22. Nasdaq had a return on equity of 18.04% and a net margin of 17.33%. The business had revenue of $851.00 million during the quarter, compared to the consensus estimate of $782.23 million. During the same quarter in the prior year, the company posted $1.50 earnings per share. Nasdaq’s revenue was up 21.4% compared to the same quarter last year. As a group, research analysts anticipate that Nasdaq will post 6.87 EPS for the current year.

In other news, EVP Bradley J. Peterson sold 518 shares of the stock in a transaction dated Friday, May 14th. The stock was sold at an average price of $164.22, for a total transaction of $85,065.96. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Pc Nelson Griggs sold 2,000 shares of the stock in a transaction dated Thursday, April 22nd. The shares were sold at an average price of $161.53, for a total value of $323,060.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,518 shares of company stock worth $1,731,996. Insiders own 0.60% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Grandview Asset Management LLC bought a new position in shares of Nasdaq during the 1st quarter valued at about $26,000. E Fund Management Co. Ltd. bought a new position in Nasdaq during the 1st quarter worth approximately $30,000. Twin Tree Management LP bought a new position in Nasdaq during the 4th quarter worth approximately $31,000. Twin Lakes Capital Management LLC bought a new position in Nasdaq during the 1st quarter worth approximately $37,000. Finally, Total Clarity Wealth Management Inc. bought a new position in Nasdaq during the 1st quarter worth approximately $44,000. Hedge funds and other institutional investors own 73.83% of the company’s stock.

About Nasdaq

Nasdaq, Inc operates as a technology company that serves capital markets and other industries worldwide. It operates through four segments: Market Services, Corporate Platforms, Investment Intelligence, and Market Technology. The Market Services segment includes equity derivative trading and clearing, cash equity trading, fixed income and commodities trading and clearing, and trade management service businesses.

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