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

Nasdaq (NASDAQ:NDAQ) had its price target cut by analysts at Morgan Stanley from $116.00 to $112.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Morgan Stanley’s price objective indicates a potential upside of 26.25% from the company’s current price.

A number of other brokerages also recently issued reports on NDAQ. TD Cowen decreased their price objective on Nasdaq from $104.00 to $98.00 and set a “buy” rating on the stock in a research report on Monday, June 22nd. Rothschild & Co Redburn set a $110.00 price target on shares of Nasdaq in a research note on Thursday, June 11th. Raymond James Financial reaffirmed an “outperform” rating and issued a $113.00 price objective (up from $111.00) on shares of Nasdaq in a research note on Thursday. Weiss Ratings restated a “buy (b)” rating on shares of Nasdaq in a report on Wednesday, April 22nd. Finally, Barclays lowered their price target on shares of Nasdaq from $114.00 to $108.00 and set an “overweight” rating on the stock in a report on Thursday. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $106.92.

Nasdaq Trading Up 1.4%

Shares of Nasdaq stock opened at $88.72 on Friday. The firm has a market cap of $50.17 billion, a price-to-earnings ratio of 26.71, a PEG ratio of 1.68 and a beta of 0.99. The business has a 50-day moving average price of $87.26 and a 200-day moving average price of $89.02. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.71. Nasdaq has a twelve month low of $76.55 and a twelve month high of $101.79.

Nasdaq (NASDAQ:NDAQ) last posted its earnings results on Thursday, April 23rd. The financial services provider reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.03. The company had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $1.42 billion. Nasdaq had a return on equity of 17.51% and a net margin of 23.15%.The firm’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.79 earnings per share. Equities research analysts anticipate that Nasdaq will post 3.87 EPS for the current fiscal year.

Insider Transactions at Nasdaq

In other news, EVP Bradley J. Peterson sold 7,710 shares of the stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $90.82, for a total value of $700,222.20. Following the transaction, the executive vice president directly owned 141,035 shares of the company’s stock, valued at approximately $12,808,798.70. This represents a 5.18% 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, insider Cohen Tal sold 15,518 shares of Nasdaq stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $90.75, for a total value of $1,408,258.50. Following the sale, the insider directly owned 215,208 shares of the company’s stock, valued at $19,530,126. This trade represents a 6.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 24,551 shares of company stock worth $2,225,990 in the last 90 days. 0.60% of the stock is owned by company insiders.

Institutional Trading of Nasdaq

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

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.