Nasdaq (NASDAQ:NDAQ) Shares Gap Down to $57.83

Posted by on Jun 12th, 2023

Nasdaq, Inc. (NASDAQ:NDAQ – Get Rating) shares gapped down before the market opened on Monday . The stock had previously closed at $57.83, but opened at $52.10. Nasdaq shares last traded at $51.62, with a volume of 3,899,918 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on NDAQ shares. StockNews.com upgraded Nasdaq from a “sell” rating to a “hold” rating in a research report on Tuesday, May 16th. Oppenheimer upped their price target on Nasdaq from $64.00 to $65.00 and gave the stock an “outperform” rating in a report on Thursday, April 20th. Rosenblatt Securities restated a “buy” rating and issued a $82.00 price target on shares of Nasdaq in a report on Thursday, April 20th. Finally, Morgan Stanley lowered Nasdaq from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $70.00 to $60.00 in a research note on Tuesday, April 11th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $63.67.

Nasdaq Stock Down 11.6 %

The stock has a fifty day moving average of $55.21 and a two-hundred day moving average of $58.12. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.77. The stock has a market cap of $25.10 billion, a price-to-earnings ratio of 22.76, a PEG ratio of 4.82 and a beta of 0.97.

Nasdaq (NASDAQ:NDAQ – Get Rating) last released its quarterly earnings data on Wednesday, April 19th. The financial services provider reported $0.69 EPS for the quarter, beating the consensus estimate of $0.66 by $0.03. Nasdaq had a return on equity of 22.15% and a net margin of 18.38%. The company had revenue of $914.00 million for the quarter, compared to analyst estimates of $910.06 million. During the same period last year, the company posted $0.66 earnings per share. The firm’s revenue was up 2.5% compared to the same quarter last year. As a group, analysts predict that Nasdaq, Inc. will post 2.7 EPS for the current fiscal year.

Nasdaq Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Friday, June 16th will be given a $0.22 dividend. The ex-dividend date is Thursday, June 15th. This is a positive change from Nasdaq’s previous quarterly dividend of $0.20. This represents a $0.88 annualized dividend and a yield of 1.72%. Nasdaq’s dividend payout ratio (DPR) is 38.26%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. CI Investments Inc. raised its position in Nasdaq by 3,142.9% in the third quarter. CI Investments Inc. now owns 454 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 440 shares during the period. International Assets Investment Management LLC purchased a new stake in shares of Nasdaq during the fourth quarter worth about $26,000. Fiduciary Alliance LLC purchased a new stake in shares of Nasdaq during the fourth quarter worth about $30,000. EverSource Wealth Advisors LLC increased its position in shares of Nasdaq by 51.3% during the first quarter. EverSource Wealth Advisors LLC now owns 569 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 193 shares during the last quarter. Finally, Harbour Investments Inc. increased its position in shares of Nasdaq by 250.6% during the fourth quarter. Harbour Investments Inc. now owns 547 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 391 shares during the last quarter. 73.01% of the stock is owned by hedge funds and other institutional investors.

Nasdaq Company Profile

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Nasdaq, Inc is a holding company, which engages in trading, clearing, exchange technology, regulatory, securities listing, information, and public and private company services. It operates through the following segments: Market Technology, Investment Intelligence, Corporate Platforms, and Market Services.

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