Citigroup Lowers Nasdaq (NASDAQ:NDAQ) Price Target to $75.00

Nasdaq (NASDAQ:NDAQ) had its price target lowered by analysts at Citigroup from $84.00 to $75.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. Citigroup’s target price indicates a potential upside of 12.95% from the stock’s current price.

Several other research firms have also recently weighed in on NDAQ. Royal Bank of Canada reiterated an “outperform” rating and set a $95.00 price objective on shares of Nasdaq in a research report on Thursday, January 30th. UBS Group lifted their price objective on Nasdaq from $79.00 to $89.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. StockNews.com raised Nasdaq from a “sell” rating to a “hold” rating in a research note on Thursday, March 27th. Keefe, Bruyette & Woods raised their target price on Nasdaq from $86.00 to $91.00 and gave the stock an “outperform” rating in a research note on Friday, December 20th. Finally, Morgan Stanley lowered Nasdaq from an “overweight” rating to an “equal weight” rating and set a $74.00 price target on the stock. in a research note on Tuesday. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $85.88.

Nasdaq Trading Down 2.0 %

NDAQ traded down $1.34 during trading on Tuesday, reaching $66.40. 6,750,083 shares of the company’s stock were exchanged, compared to its average volume of 2,810,497. The firm has a fifty day moving average price of $78.26 and a two-hundred day moving average price of $77.64. The stock has a market capitalization of $38.19 billion, a PE ratio of 34.58, a price-to-earnings-growth ratio of 2.12 and a beta of 1.02. Nasdaq has a one year low of $58.10 and a one year high of $84.15. The company has a current ratio of 0.99, a quick ratio of 0.95 and a debt-to-equity ratio of 0.81.

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

Insiders Place Their Bets

In other Nasdaq 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 transaction, the executive vice president now owns 61,980 shares of the company’s stock, valued at $4,450,783.80. This trade represents a 1.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Sarah Youngwood sold 14,959 shares of the business’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 value of $1,102,179.12. Following the completion of the transaction, the executive vice president now owns 59,694 shares in the company, 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. Insiders have sold 19,116 shares of company stock valued at $1,434,818 in the last three months. 0.70% of the stock is currently owned by insiders.

Institutional Trading of Nasdaq

Hedge funds have recently bought and sold shares of the business. Janus Henderson Group PLC raised its stake in shares of Nasdaq by 8.9% during the 3rd quarter. Janus Henderson Group PLC now owns 58,929 shares of the financial services provider’s stock worth $4,302,000 after purchasing an additional 4,800 shares during the period. Quarry LP raised its position in Nasdaq by 316.7% in the third quarter. Quarry LP now owns 871 shares of the financial services provider’s stock worth $64,000 after acquiring an additional 662 shares during the period. Quantinno Capital Management LP boosted its stake in Nasdaq by 23.1% in the third quarter. Quantinno Capital Management LP now owns 30,329 shares of the financial services provider’s stock valued at $2,214,000 after acquiring an additional 5,682 shares during the last quarter. XTX Topco Ltd bought a new position in shares of Nasdaq during the 3rd quarter valued at approximately $208,000. Finally, MML Investors Services LLC increased its stake in shares of Nasdaq by 34.4% during the 3rd quarter. MML Investors Services LLC now owns 5,843 shares of the financial services provider’s stock worth $427,000 after purchasing an additional 1,494 shares during the last quarter. 72.47% 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 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.