A number of other equities analysts have also recently commented on NDAQ. Oppenheimer reaffirmed an “outperform” rating and set a $65.00 price target on shares of Nasdaq in a research note on Thursday, October 19th. JPMorgan Chase & Co. lifted their price target on shares of Nasdaq from $62.00 to $63.00 and gave the stock an “overweight” rating in a research note on Thursday, October 19th. Bank of America dropped their price target on shares of Nasdaq from $50.00 to $49.00 in a research note on Tuesday, October 3rd. Rosenblatt Securities reiterated a “buy” rating and set a $82.00 price objective on shares of Nasdaq in a report on Thursday, October 19th. Finally, Morgan Stanley lifted their price objective on shares of Nasdaq from $54.00 to $55.00 and gave the company an “equal weight” rating in a report on Thursday, October 19th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $61.09.
Nasdaq Price Performance
Nasdaq (NASDAQ:NDAQ – Get Free Report) last issued its quarterly earnings data on Wednesday, October 18th. The financial services provider reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. Nasdaq had a net margin of 18.40% and a return on equity of 21.62%. The business had revenue of $940.00 million during the quarter, compared to analysts’ expectations of $931.14 million. During the same period last year, the company posted $0.68 EPS. The business’s revenue was up 5.6% on a year-over-year basis. As a group, equities research analysts anticipate that Nasdaq will post 2.78 EPS for the current fiscal year.
In other Nasdaq news, Director Johan Torgeby purchased 14,000 shares of Nasdaq stock in a transaction dated Monday, October 23rd. The stock was acquired at an average price of $50.42 per share, for a total transaction of $705,880.00. Following the acquisition, the director now owns 22,466 shares in the company, valued at approximately $1,132,735.72. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.75% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. grew its position in Nasdaq by 12.2% during the 2nd quarter. BlackRock Inc. now owns 30,147,422 shares of the financial services provider’s stock worth $1,502,849,000 after purchasing an additional 3,276,599 shares during the last quarter. State Street Corp grew its position in Nasdaq by 2.3% during the 2nd quarter. State Street Corp now owns 14,431,683 shares of the financial services provider’s stock worth $719,419,000 after purchasing an additional 321,354 shares during the last quarter. Vanguard Group Inc. grew its position in Nasdaq by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 12,756,255 shares of the financial services provider’s stock worth $2,273,164,000 after purchasing an additional 126,348 shares during the last quarter. Geode Capital Management LLC grew its position in Nasdaq by 2.4% during the 2nd quarter. Geode Capital Management LLC now owns 7,920,318 shares of the financial services provider’s stock worth $393,881,000 after purchasing an additional 184,645 shares during the last quarter. Finally, Franklin Resources Inc. grew its position in Nasdaq by 6.8% during the 2nd quarter. Franklin Resources Inc. now owns 6,477,638 shares of the financial services provider’s stock worth $322,910,000 after purchasing an additional 409,980 shares during the last quarter. Hedge funds and other institutional investors own 72.47% of the company’s stock.
Nasdaq, Inc operates as a technology company that serves capital markets and other industries worldwide. It operates in three segments: Market Platforms, Capital Access Platforms, and Anti-Financial Crime. The Market Platforms segment trading services, including equity derivative trading and clearing, cash equity trading, fixed income and commodities trading and clearing, and trade management service businesses.
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