Nasdaq (NASDAQ:NDAQ) Earns Overweight Rating from Analysts at Morgan Stanley

Morgan Stanley initiated coverage on shares of Nasdaq (NASDAQ:NDAQ) in a research report issued on Friday, Briefing.com reports. The firm set an “overweight” rating and a $205.00 price target on the financial services provider’s stock. Morgan Stanley’s target price would indicate a potential upside of 21.76% from the company’s previous close.

Other equities research analysts have also recently issued reports about the company. Deutsche Bank Aktiengesellschaft boosted their price objective on Nasdaq from $160.00 to $164.00 and gave the company a “buy” rating in a research note on Tuesday, April 13th. Wells Fargo & Company upped their price target on Nasdaq from $173.00 to $186.00 and gave the company an “overweight” rating in a research report on Thursday, April 22nd. Piper Sandler upped their price target on Nasdaq from $160.00 to $165.00 and gave the company an “overweight” rating in a research report on Thursday, April 8th. Citigroup upped their price target on Nasdaq from $147.00 to $164.00 in a research report on Tuesday, April 20th. Finally, Rosenblatt Securities boosted their price objective on Nasdaq from $150.00 to $161.00 and gave the stock a “neutral” rating in a report on Monday, April 19th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $162.34.

NDAQ opened at $168.36 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.86. The stock has a market cap of $27.63 billion, a P/E ratio of 27.38, a price-to-earnings-growth ratio of 4.28 and a beta of 0.84. The business’s fifty day moving average price is $161.81. Nasdaq has a 1 year low of $112.23 and a 1 year high of $171.00.

Nasdaq (NASDAQ:NDAQ) last released its earnings results on Tuesday, April 20th. The financial services provider reported $1.96 EPS for the quarter, topping the Zacks’ consensus estimate of $1.74 by $0.22. The company had revenue of $851.00 million for the quarter, compared to analysts’ expectations of $782.23 million. Nasdaq had a return on equity of 18.04% and a net margin of 17.33%. The business’s revenue for the quarter was up 21.4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.50 EPS. As a group, sell-side analysts forecast that Nasdaq will post 6.87 EPS for the current fiscal year.

In other news, EVP Bradley J. Peterson sold 518 shares of the stock in a transaction on Friday, May 14th. The stock was sold at an average price of $164.22, for a total value of $85,065.96. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Pc Nelson Griggs sold 1,000 shares of the stock in a transaction on Thursday, June 3rd. The stock was sold at an average price of $167.89, for a total value of $167,890.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,518 shares of company stock valued at $1,731,996. 0.60% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in the stock. E Fund Management Co. Ltd. purchased a new position in Nasdaq in the first quarter worth about $30,000. Twin Tree Management LP purchased a new position in Nasdaq in the fourth quarter worth about $31,000. Twin Lakes Capital Management LLC purchased a new position in Nasdaq in the first quarter worth about $37,000. Grandview Asset Management LLC purchased a new position in Nasdaq in the first quarter worth about $26,000. Finally, Total Clarity Wealth Management Inc. purchased a new position in Nasdaq in the first quarter worth about $44,000. 73.83% of the stock is currently owned by institutional investors.

About Nasdaq

Nasdaq, Inc operates as a technology company that serves capital markets and other industries worldwide. It operates through four segments: Market Services, Corporate Platforms, Investment Intelligence, and Market Technology. The Market Services segment includes equity derivative trading and clearing, cash equity trading, fixed income and commodities trading and clearing, and trade management service businesses.

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Analyst Recommendations for Nasdaq (NASDAQ:NDAQ)

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