Citigroup Has Lowered Expectations for Nasdaq (NASDAQ:NDAQ) Stock Price

Nasdaq (NASDAQ:NDAQ) had its price objective decreased by investment analysts at Citigroup from $84.00 to $75.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. Citigroup’s target price would suggest a potential upside of 4.18% from the stock’s current price.

Other analysts have also issued reports about the company. Raymond James raised their price target on Nasdaq from $83.00 to $84.00 and gave the stock an “outperform” rating in a research note on Thursday, January 9th. Oppenheimer upped their price objective on Nasdaq from $86.00 to $89.00 and gave the company an “outperform” rating in a report on Monday, January 13th. Keefe, Bruyette & Woods upped their price target on Nasdaq from $86.00 to $91.00 and gave the company an “outperform” rating in a research report on Friday, December 20th. Royal Bank of Canada restated an “outperform” rating and set a $95.00 target price on shares of Nasdaq in a research note on Thursday, January 30th. Finally, Morgan Stanley cut Nasdaq from an “overweight” rating to an “equal weight” rating and set a $74.00 price target for the company. in a report on Tuesday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $85.88.

Nasdaq Trading Up 8.4 %

Shares of NDAQ opened at $71.99 on Tuesday. Nasdaq has a 52-week low of $58.10 and a 52-week high of $84.15. The company has a quick ratio of 0.95, a current ratio of 0.99 and a debt-to-equity ratio of 0.81. The firm’s fifty day moving average is $77.24 and its two-hundred day moving average is $77.45. The stock has a market cap of $41.40 billion, a PE ratio of 37.49, a price-to-earnings-growth ratio of 2.12 and a beta of 1.02.

Nasdaq (NASDAQ:NDAQ) last issued its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.02. Nasdaq had a net margin of 15.10% and a return on equity of 14.82%. Research analysts forecast that Nasdaq will post 3.18 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Bryan Everard Smith sold 657 shares of Nasdaq stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $71.81, for a total transaction of $47,179.17. Following the sale, the executive vice president now owns 61,980 shares in the company, valued at $4,450,783.80. This trade represents a 1.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Sarah Youngwood sold 14,959 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $73.68, for a total transaction of $1,102,179.12. Following the sale, the executive vice president now directly owns 59,694 shares of the company’s stock, valued at $4,398,253.92. The trade was a 20.04 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,116 shares of company stock valued at $1,434,818. 0.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Nasdaq

A number of institutional investors have recently bought and sold shares of the stock. Rakuten Securities Inc. bought a new stake in shares of Nasdaq during the fourth quarter valued at approximately $26,000. Founders Capital Management bought a new position in shares of Nasdaq during the fourth quarter worth about $27,000. Kestra Investment Management LLC bought a new position in Nasdaq in the fourth quarter valued at approximately $33,000. Raleigh Capital Management Inc. lifted its position in shares of Nasdaq by 106.6% in the fourth quarter. Raleigh Capital Management Inc. now owns 436 shares of the financial services provider’s stock valued at $34,000 after buying an additional 225 shares during the last quarter. Finally, Kapitalo Investimentos Ltda acquired a new stake in Nasdaq during the 4th quarter worth approximately $37,000. Hedge funds and other institutional investors own 72.47% of the company’s stock.

Nasdaq Company Profile

Nasdaq, Inc operates as a technology company that serves capital markets and other industries worldwide. It operates in three segments: Capital Access Platforms, Financial Technology, and Market Services. The Capital Access Platforms segment sells and distributes historical and real-time market data; and develops and licenses Nasdaq-branded indices and financial products.