TD Cowen Has Lowered Expectations for Nasdaq (NASDAQ:NDAQ) Stock Price

Nasdaq (NASDAQ:NDAQ) had its target price dropped by TD Cowen from $104.00 to $98.00 in a report released on Monday,Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. TD Cowen’s price objective would suggest a potential upside of 19.32% from the stock’s current price.

Other analysts also recently issued reports about the company. Rothschild & Co Redburn set a $110.00 price objective on Nasdaq in a research report on Thursday, June 11th. Barclays raised their price objective on Nasdaq from $115.00 to $116.00 and gave the company an “overweight” rating in a research note on Wednesday, April 8th. Loop Capital set a $113.00 price objective on Nasdaq in a research note on Friday, April 24th. Wall Street Zen raised shares of Nasdaq from a “sell” rating to a “hold” rating in a research report on Sunday, May 3rd. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $109.00 price target on shares of Nasdaq in a report on Wednesday, February 25th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Nasdaq has an average rating of “Moderate Buy” and an average target price of $106.79.

Nasdaq Stock Down 0.1%

NDAQ traded down $0.10 during trading hours on Monday, hitting $82.14. 1,664,449 shares of the company’s stock were exchanged, compared to its average volume of 3,939,880. The stock has a market cap of $46.45 billion, a price-to-earnings ratio of 24.73, a PEG ratio of 1.64 and a beta of 0.97. Nasdaq has a 1-year low of $77.09 and a 1-year high of $101.79. The stock’s 50-day moving average is $88.72 and its two-hundred day moving average is $89.96. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.71.

Nasdaq (NASDAQ:NDAQ) last released its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.96 EPS for the quarter, beating the consensus estimate of $0.93 by $0.03. The company had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $1.42 billion. Nasdaq had a return on equity of 17.51% and a net margin of 23.15%.The firm’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.79 EPS. Sell-side analysts predict that Nasdaq will post 3.86 earnings per share for the current fiscal year.

Insider Activity at Nasdaq

In other news, SVP Michelle Lynn Daly sold 1,323 shares of the business’s stock in a transaction on Friday, April 24th. The shares were sold at an average price of $88.82, for a total transaction of $117,508.86. Following the completion of the sale, the senior vice president owned 10,089 shares of the company’s stock, valued at $896,104.98. The trade was a 11.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Bradley J. Peterson sold 7,710 shares of the stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $90.82, for a total transaction of $700,222.20. Following the completion of the sale, the executive vice president directly owned 141,035 shares of the company’s stock, valued at $12,808,798.70. This represents a 5.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 138,162 shares of company stock valued at $11,932,913 over the last three months. 0.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. MV Capital Management Inc. bought a new stake in Nasdaq in the fourth quarter worth $28,000. SOA Wealth Advisors LLC. bought a new stake in Nasdaq during the fourth quarter valued at about $34,000. Nemes Rush Group LLC acquired a new position in shares of Nasdaq during the fourth quarter valued at about $35,000. Uniplan Investment Counsel Inc. purchased a new position in Nasdaq in the 4th quarter worth $35,000. Finally, Fideuram Asset Management Ireland dac purchased a new position in shares of Nasdaq during the fourth quarter worth $37,000. Hedge funds and other institutional investors own 72.47% of the company’s stock.

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.