Nasdaq, Inc. (NASDAQ:NDAQ) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Monday.
According to Zacks, “Nasdaq remains focused on growth through acquisitions and organic initiatives that enable entry and cross-selling opportunities into new markets at a low-cost and highly-flexible platform. It displays prudence by accelerating its non-transaction revenue base. Nasdaq realigned its reporting segments to better reflect client orientation, rebranded its fixed income business and has decided to end its NLX interest rate futures business as well. However, elevated expenses restrict the desired margin expansion. Intense competition and regulatory issues remain key concerns. Also, shares of Nasdaq underperformed the Zacks categorized Securities Exchanges industry, year to date. The company is set to report second quarter release on Jul 26. According to our proven model a Zacks Rank #3 when combined with an Earnings ESP of 0.00% makes prediction difficult for a likely earnings beat.”
Several other research analysts also recently commented on the stock. BidaskClub raised shares of Nasdaq from a “sell” rating to a “hold” rating in a research note on Thursday, June 29th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $71.00 price target on shares of Nasdaq in a research note on Thursday, March 30th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $68.00 price target on shares of Nasdaq in a research note on Monday, April 10th. Evercore ISI reaffirmed an “in-line” rating and issued a $74.00 price target on shares of Nasdaq in a research note on Friday, April 28th. Finally, UBS AG reissued a “buy” rating and set a $81.00 target price (down previously from $85.00) on shares of Nasdaq in a research report on Friday, April 28th. Eight research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $74.00.
Nasdaq (NDAQ) opened at 71.70 on Monday. Nasdaq has a 52-week low of $63.30 and a 52-week high of $72.52. The firm has a 50 day moving average of $70.40 and a 200-day moving average of $69.47. The stock has a market cap of $11.84 billion, a PE ratio of 83.57 and a beta of 0.76.
Nasdaq (NASDAQ:NDAQ) last released its earnings results on Wednesday, April 26th. The financial services provider reported $1.10 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.05 by $0.05. The firm had revenue of $583 million during the quarter, compared to analyst estimates of $593.46 million. Nasdaq had a net margin of 3.87% and a return on equity of 11.77%. The business’s revenue was up 9.2% on a year-over-year basis. During the same quarter last year, the business earned $0.91 EPS. Equities analysts anticipate that Nasdaq will post $4.11 earnings per share for the current fiscal year.
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In other Nasdaq news, Director Lars Wedenborn sold 10,000 shares of Nasdaq stock in a transaction that occurred on Thursday, April 27th. The shares were sold at an average price of $68.38, for a total transaction of $683,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.60% of the company’s stock.
Several institutional investors have recently bought and sold shares of NDAQ. Massachusetts Financial Services Co. MA raised its position in Nasdaq by 1.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 15,395,293 shares of the financial services provider’s stock valued at $1,069,202,000 after buying an additional 146,050 shares during the period. Vanguard Group Inc. raised its position in Nasdaq by 3.8% in the first quarter. Vanguard Group Inc. now owns 11,262,495 shares of the financial services provider’s stock valued at $782,180,000 after buying an additional 416,910 shares during the period. BlackRock Inc. raised its position in Nasdaq by 3,831.1% in the first quarter. BlackRock Inc. now owns 9,546,334 shares of the financial services provider’s stock valued at $662,992,000 after buying an additional 9,303,493 shares during the period. State Street Corp raised its position in Nasdaq by 0.4% in the first quarter. State Street Corp now owns 5,296,709 shares of the financial services provider’s stock valued at $367,865,000 after buying an additional 20,813 shares during the period. Finally, Clearbridge Investments LLC raised its position in Nasdaq by 13.1% in the first quarter. Clearbridge Investments LLC now owns 3,094,734 shares of the financial services provider’s stock valued at $214,929,000 after buying an additional 358,414 shares during the period. 74.67% of the stock is owned by hedge funds and other institutional investors.
About Nasdaq
Nasdaq, Inc (Nasdaq) is a holding company. The Company is a provider of trading, clearing, exchange technology, regulatory, securities listing, information and public company services. It manages, operates and provides its products and services through four segments: Market Services, Corporate Services, Information Services and Market Technology.
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