Keefe, Bruyette & Woods Issues Positive Forecast for Nasdaq (NASDAQ:NDAQ) Stock Price

Nasdaq (NASDAQ:NDAQ) had its price target hoisted by Keefe, Bruyette & Woods from $92.00 to $102.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a market perform rating on the financial services provider’s stock.

Several other equities research analysts have also recently issued reports on NDAQ. Raymond James Financial reaffirmed an “outperform” rating and set a $113.00 price target (up from $111.00) on shares of Nasdaq in a research note on Thursday, July 9th. Wall Street Zen raised Nasdaq from a “sell” rating to a “hold” rating in a research note on Sunday, May 3rd. Weiss Ratings restated a “buy (b)” rating on shares of Nasdaq in a report on Monday. Rothschild & Co Redburn set a $110.00 price objective on shares of Nasdaq in a research note on Thursday, June 11th. Finally, TD Cowen reissued a “buy” rating and set a $105.00 target price (up from $101.00) on shares of Nasdaq in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $109.73.

Nasdaq Price Performance

Shares of NASDAQ:NDAQ opened at $92.09 on Friday. The business’s fifty day moving average price is $87.43 and its two-hundred day moving average price is $88.52. The stock has a market cap of $52.08 billion, a PE ratio of 26.85, a price-to-earnings-growth ratio of 1.44 and a beta of 0.99. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.00 and a current ratio of 1.01. Nasdaq has a one year low of $76.55 and a one year high of $101.79.

Nasdaq (NASDAQ:NDAQ) last released its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.09. Nasdaq had a return on equity of 18.38% and a net margin of 22.60%.The company had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same period in the previous year, the firm posted $0.85 earnings per share. The business’s revenue for the quarter was up 14.9% compared to the same quarter last year. On average, analysts forecast that Nasdaq will post 3.93 EPS for the current fiscal year.

Nasdaq Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 11th will be given a dividend of $0.31 per share. The ex-dividend date is Friday, September 11th. This represents a $1.24 annualized dividend and a dividend yield of 1.3%. Nasdaq’s payout ratio is currently 37.35%.

Insider Activity

In other news, insider Cohen Tal sold 15,518 shares of the firm’s stock in a transaction on Monday, April 27th. The stock was sold at an average price of $90.75, for a total transaction of $1,408,258.50. Following the transaction, the insider directly owned 215,208 shares of the company’s stock, valued at approximately $19,530,126. This trade represents a 6.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Ab Investor purchased 56,782 shares of the company’s stock in a transaction on Thursday, June 11th. The shares were bought at an average price of $85.98 per share, for a total transaction of $4,882,116.36. Following the completion of the transaction, the insider directly owned 58,439,208 shares in the company, valued at $5,024,603,103.84. This represents a 0.10% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. MV Capital Management Inc. acquired a new stake in Nasdaq during the fourth quarter valued at $28,000. SOA Wealth Advisors LLC. acquired a new stake in Nasdaq during the fourth quarter worth about $34,000. Nemes Rush Group LLC bought a new stake in shares of Nasdaq during the fourth quarter valued at approximately $35,000. Uniplan Investment Counsel Inc. bought a new stake in Nasdaq in the 4th quarter valued at $35,000. Finally, Fideuram Asset Management Ireland dac acquired a new position in shares of Nasdaq in the 4th quarter valued at $37,000. 72.47% of the stock is owned by hedge funds and other institutional investors.

More Nasdaq News

Here are the key news stories impacting Nasdaq this week:

• Positive Sentiment: Nasdaq delivered a solid Q2 beat on both earnings and revenue, with strong growth in index and FinTech driving better-than-expected results and record Market Services performance. Article Title
• Positive Sentiment: The company announced a quarterly dividend of $0.31 per share, which may appeal to income-focused investors and signals continued shareholder returns. Article Title
• Positive Sentiment: Keefe, Bruyette & Woods lifted its price target to $102, indicating improved valuation expectations even though the rating remained market perform. Article Title
• Neutral Sentiment: Nasdaq’s July short-interest report showed 0 shares short and a 0.0-day days-to-cover figure, which appears more like a data anomaly than a meaningful trading signal. Article Title
• Neutral Sentiment: The company also ended its Miami case and sold its fund secondaries business, a portfolio move that may be viewed as strategic housekeeping rather than a major earnings driver. Article Title

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.