Nasdaq Inc (NASDAQ:NDAQ) reported better-than-expected earnings for its first quarter on Thursday.
The company posted quarterly revenue of $1.24 billion, versus estimates of $1.23 billion. The company's quarterly earnings came in at 79 cents per share, versus estimates of 77 cents per share.
Total revenue was up 11% year-over-year and annual recurring revenue climbed 8% year-over-year to $2.8 billion.
"Nasdaq's first quarter results underscore the resilience of our business model and our ability to deliver growth across our divisions in a rapidly shifting environment," said chair and CEO Adena Friedman.
Nasdaq declared a quarterly dividend of 27 cents per share, payable on June 27 to shareholders of record as of June 13.
In a separate press release, Nasdaq announced that the company and Amazon.com Inc's (NASDAQ:AMZN) Amazon Web Services (AWS) will introduce a new suite of solutions including infrastructure, software, data management and services that will enable market operators to overcome modernization barriers.
Nasdaq shares fell 0.1% to trade at $74.64 on Friday.
These analysts made changes to their price targets on Nasdaq following earnings announcement.
- Barclays analyst Benjamin Budish maintained Nasdaq with an Overweight rating and lowered the price target from $86 to $84.
- UBS analyst Alex Kramm maintained Nasdaq with a Neutral and raised the price target from $76 to $82.
- Keefe, Bruyette & Woods analyst Kyle Voigt maintained the stock with an Outperform rating and raised the price target from $87 to $88..
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