Nasdaq, Inc. (NASDAQ:NDAQ) Stock Now Rated “Moderate Buy” by Wall Street Brokerages

Nasdaq, Inc. (NASDAQ:NDAQ) has been assigned an average rating of “Moderate Buy” from the nineteen research firms that are presently covering the company, Marketbeat.com reports. Six research analysts have rated the stock with a hold recommendation, twelve have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $108.83.

Several research analysts recently commented on the stock. The Goldman Sachs Group lifted their target price on shares of Nasdaq from $108.00 to $109.00 and gave the stock a “buy” rating in a report on Friday, October 2nd. TD Cowen lowered their price target on Nasdaq from $108.00 to $107.00 and set a “buy” rating on the stock in a research report on Monday, October 12th. Piper Sandler reiterated an “overweight” rating and issued a $108.00 price objective (up from $104.00) on shares of Nasdaq in a research note on Friday, October 2nd. Wells Fargo & Company began coverage on Nasdaq in a research note on Friday, October 2nd. They issued an “equal weight” rating and a $100.00 price objective on the stock. Finally, Keefe, Bruyette & Woods boosted their price objective on Nasdaq from $92.00 to $102.00 and gave the stock a “market perform” rating in a research report on Friday, July 24th.

More Nasdaq News

Here are the key news stories impacting Nasdaq this week:

• Positive Sentiment: Nasdaq completed its acquisition of LeveL Markets, one of the largest U.S. alternative trading systems. The deal expands Nasdaq’s trading and liquidity infrastructure and supports its strategy of enabling more continuous, global market access. Nasdaq Completes Acquisition of LeveL Markets
• Positive Sentiment: Analyst sentiment remains favorable. Bank of America maintained a Buy rating, while J.P. Morgan also rates the shares Buy. Deutsche Bank recently raised its price target to $116, and the broader analyst consensus is Moderate Buy with an average target of about $108.83. Bank of America Buy Rating
• Positive Sentiment: Nasdaq is expected to report earnings next week, with analysts anticipating year-over-year growth and potential for another earnings beat. Industry tailwinds include rising crypto adoption, technology investment and growth in recurring, non-trading revenue. Nasdaq Earnings Preview

Insiders Place Their Bets

In other news, EVP Jeremy Skule sold 1,125 shares of the firm’s stock in a transaction on Monday, October 12th. The shares were sold at an average price of $94.13, for a total value of $105,896.25. Following the sale, the executive vice president owned 97,686 shares in the company, valued at approximately $9,195,183.18. This trade represents a 1.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Nelson Griggs sold 11,010 shares of the firm’s stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $96.35, for a total transaction of $1,060,813.50. Following the completion of the sale, the insider owned 205,001 shares in the company, valued at approximately $19,751,846.35. The trade was a 5.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 45,172 shares of company stock valued at $4,245,088 in the last three months. Company insiders own 0.60% of the company’s stock.

Institutional Trading of Nasdaq

Hedge funds have recently bought and sold shares of the stock. Kintegral Advisory LLC lifted its position in Nasdaq by 0.6% in the third quarter. Kintegral Advisory LLC now owns 71,789 shares of the financial services provider’s stock worth $6,605,000 after purchasing an additional 405 shares during the period. Cyndeo Wealth Partners LLC acquired a new position in shares of Nasdaq in the 3rd quarter valued at $263,000. Pension & Wealth Management Advisors Inc. acquired a new position in shares of Nasdaq in the 3rd quarter valued at $255,000. Howard Capital Management LLC bought a new position in shares of Nasdaq during the 3rd quarter worth about $223,000. Finally, Goldstein Advisors LLC bought a new position in shares of Nasdaq during the 3rd quarter worth about $229,000. 72.47% of the stock is owned by institutional investors.

Nasdaq Stock Up 0.5%

Shares of NDAQ traded up $0.47 during trading hours on Friday, hitting $93.97. 2,643,767 shares of the company were exchanged, compared to its average volume of 3,219,736. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market cap of $52.53 billion, a PE ratio of 27.40, a PEG ratio of 1.67 and a beta of 0.99. The firm’s 50 day moving average is $94.68 and its 200-day moving average is $90.61. Nasdaq has a 52 week low of $76.55 and a 52 week high of $101.79.

Nasdaq (NASDAQ:NDAQ) last issued its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.09. The business had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $1.46 billion. Nasdaq had a return on equity of 18.38% and a net margin of 22.60%. The firm’s revenue was up 14.9% compared to the same quarter last year. During the same period last year, the business earned $0.85 EPS. On average, equities research analysts forecast that Nasdaq will post 4.13 EPS for the current fiscal year.

Nasdaq Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Friday, September 11th were given a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Friday, September 11th. Nasdaq’s payout ratio is currently 36.15%.

About Nasdaq

Nasdaq, Inc is a global financial technology, market infrastructure and exchange company headquartered in New York City. The company operates Nasdaq stock exchanges in the United States and provides trading, clearing, settlement, listing and market data services. Through its Nordic and Baltic operations, Nasdaq also serves financial markets across Northern Europe.

Nasdaq’s business includes exchange and market services, index development, investment intelligence, and technology solutions for exchanges, brokers, banks, asset managers and other financial institutions.