Wells Fargo & Co Reiterates “Market Perform” Rating for Nasdaq (NDAQ)

Nasdaq (NASDAQ:NDAQ)‘s stock had its “market perform” rating restated by investment analysts at Wells Fargo & Co in a research note issued on Wednesday, January 10th, The Fly reports. They currently have a $83.00 price objective on the financial services provider’s stock, up from their previous price objective of $77.00. Wells Fargo & Co’s target price would indicate a potential upside of 8.92% from the stock’s previous close.

Several other research firms have also issued reports on NDAQ. BidaskClub raised shares of Nasdaq from a “sell” rating to a “hold” rating in a research report on Saturday, January 6th. UBS Group reaffirmed a “buy” rating and set a $89.00 price objective (up previously from $83.00) on shares of Nasdaq in a research note on Monday, December 11th. ValuEngine raised shares of Nasdaq from a “hold” rating to a “buy” rating in a research note on Wednesday, November 15th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $78.00 price objective on shares of Nasdaq in a research note on Thursday, October 12th. Finally, Citigroup boosted their price target on shares of Nasdaq from $75.00 to $82.00 and gave the stock a “neutral” rating in a research note on Thursday, October 19th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company’s stock. Nasdaq presently has an average rating of “Hold” and a consensus price target of $81.86.

Nasdaq (NASDAQ:NDAQ) traded down $1.27 on Wednesday, hitting $76.20. 997,014 shares of the company were exchanged, compared to its average volume of 1,007,711. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.05 and a quick ratio of 1.15. Nasdaq has a one year low of $65.98 and a one year high of $83.29. The company has a market capitalization of $13,354.62, a price-to-earnings ratio of 17.93, a P/E/G ratio of 1.72 and a beta of 0.71.

Nasdaq (NASDAQ:NDAQ) last released its quarterly earnings results on Wednesday, January 31st. The financial services provider reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.05. The company had revenue of $635.00 million for the quarter, compared to analyst estimates of $628.36 million. Nasdaq had a net margin of 18.49% and a return on equity of 12.75%. The firm’s revenue was up 6.0% on a year-over-year basis. During the same period last year, the firm earned $0.95 earnings per share. analysts predict that Nasdaq will post 4.81 earnings per share for the current year.

Nasdaq declared that its Board of Directors has approved a stock buyback program on Monday, January 29th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.

In other news, EVP Pc Nelson Griggs sold 2,064 shares of the company’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $76.58, for a total value of $158,061.12. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Bradley J. Peterson sold 19,169 shares of the company’s stock in a transaction dated Friday, January 12th. The stock was sold at an average price of $80.70, for a total transaction of $1,546,938.30. Following the completion of the sale, the insider now directly owns 32,214 shares in the company, valued at $2,599,669.80. The disclosure for this sale can be found here. Insiders sold a total of 29,080 shares of company stock valued at $2,330,227 over the last 90 days. Company insiders own 1.60% of the company’s stock.

A number of hedge funds have recently made changes to their positions in NDAQ. Delta Asset Management LLC TN boosted its holdings in shares of Nasdaq by 6,087.0% during the 4th quarter. Delta Asset Management LLC TN now owns 1,423 shares of the financial services provider’s stock valued at $109,000 after acquiring an additional 1,400 shares during the last quarter. Invictus RG purchased a new stake in shares of Nasdaq during the 3rd quarter valued at about $111,000. YorkBridge Wealth Partners LLC boosted its holdings in shares of Nasdaq by 13.9% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 1,454 shares of the financial services provider’s stock valued at $104,000 after acquiring an additional 178 shares during the last quarter. Cerebellum GP LLC bought a new position in shares of Nasdaq in the 4th quarter worth approximately $125,000. Finally, Pacer Advisors Inc. lifted its stake in shares of Nasdaq by 8.6% in the 2nd quarter. Pacer Advisors Inc. now owns 2,568 shares of the financial services provider’s stock worth $184,000 after purchasing an additional 203 shares during the period. 76.11% of the stock is currently owned by institutional investors.

ILLEGAL ACTIVITY NOTICE: “Wells Fargo & Co Reiterates “Market Perform” Rating for Nasdaq (NDAQ)” was originally reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this article on another website, it was copied illegally and republished in violation of U.S. and international copyright legislation. The original version of this article can be accessed at https://www.dispatchtribunal.com/2018/02/06/nasdaq-ndaq-receives-market-perform-rating-from-wells-fargo-co.html.

Nasdaq Company Profile

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.

The Fly

Analyst Recommendations for Nasdaq (NASDAQ:NDAQ)

Receive News & Ratings for Nasdaq Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nasdaq and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply