William Blair Has Strong Forecast for Nasdaq FY2024 Earnings

Nasdaq, Inc. (NASDAQ:NDAQ) – Equities research analysts at William Blair raised their FY2024 earnings estimates for shares of Nasdaq in a report released on Monday, January 13th. William Blair analyst J. Schmitt now forecasts that the financial services provider will post earnings of $2.80 per share for the year, up from their previous forecast of $2.78. William Blair has a “Outperform” rating on the stock. The consensus estimate for Nasdaq’s current full-year earnings is $2.80 per share. William Blair also issued estimates for Nasdaq’s Q4 2024 earnings at $0.74 EPS.

Several other research analysts have also weighed in on the stock. TD Cowen lowered their price objective on shares of Nasdaq from $81.00 to $80.00 and set a “hold” rating on the stock in a research note on Monday, October 28th. Keefe, Bruyette & Woods boosted their price objective on shares of Nasdaq from $86.00 to $91.00 and gave the stock an “outperform” rating in a research note on Friday, December 20th. Piper Sandler boosted their price objective on shares of Nasdaq from $73.00 to $80.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Argus upped their price target on shares of Nasdaq from $76.00 to $82.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Nasdaq from a “hold” rating to a “buy” rating and upped their price target for the company from $80.00 to $98.00 in a research note on Wednesday, January 8th. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $85.73.

Nasdaq Stock Up 1.8 %

Nasdaq stock opened at $78.39 on Wednesday. The firm has a market capitalization of $45.06 billion, a PE ratio of 46.94, a P/E/G ratio of 2.59 and a beta of 0.98. The company’s 50-day moving average is $79.28 and its 200-day moving average is $73.14. Nasdaq has a fifty-two week low of $54.90 and a fifty-two week high of $83.77. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.95 and a quick ratio of 0.95.

Nasdaq (NASDAQ:NDAQ) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.05. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.17 billion. Nasdaq had a net margin of 13.67% and a return on equity of 14.56%. Nasdaq’s revenue for the quarter was up 21.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.71 EPS.

Nasdaq Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend was Friday, December 6th. Nasdaq’s dividend payout ratio (DPR) is presently 57.49%.

Insider Transactions at Nasdaq

In other news, EVP Jeremy Skule sold 12,075 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $78.75, for a total transaction of $950,906.25. Following the completion of the sale, the executive vice president now owns 102,505 shares of the company’s stock, valued at approximately $8,072,268.75. This represents a 10.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Bradley J. Peterson sold 13,642 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $75.32, for a total transaction of $1,027,515.44. Following the sale, the executive vice president now directly owns 142,830 shares of the company’s stock, valued at approximately $10,757,955.60. This trade represents a 8.72 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 49,459 shares of company stock valued at $3,811,808. Company insiders own 0.70% of the company’s stock.

Hedge Funds Weigh In On Nasdaq

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Citizens Financial Group Inc. RI lifted its stake in Nasdaq by 3.6% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 3,975 shares of the financial services provider’s stock valued at $290,000 after purchasing an additional 137 shares during the last quarter. First Pacific Financial lifted its stake in Nasdaq by 1.0% in the 3rd quarter. First Pacific Financial now owns 13,842 shares of the financial services provider’s stock valued at $1,011,000 after purchasing an additional 142 shares during the last quarter. Harbor Capital Advisors Inc. lifted its stake in Nasdaq by 1.5% in the 4th quarter. Harbor Capital Advisors Inc. now owns 9,818 shares of the financial services provider’s stock valued at $759,000 after purchasing an additional 148 shares during the last quarter. Brooklyn Investment Group lifted its stake in Nasdaq by 8.5% in the 4th quarter. Brooklyn Investment Group now owns 1,899 shares of the financial services provider’s stock valued at $147,000 after purchasing an additional 148 shares during the last quarter. Finally, Crestwood Advisors Group LLC lifted its stake in Nasdaq by 4.2% in the 3rd quarter. Crestwood Advisors Group LLC now owns 3,670 shares of the financial services provider’s stock valued at $268,000 after purchasing an additional 149 shares during the last quarter. 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.