TD Cowen Forecasts Strong Price Appreciation for Cboe Global Markets (BATS:CBOE) Stock

Cboe Global Markets (BATS:CBOE) had its target price hoisted by equities researchers at TD Cowen from $334.00 to $342.00 in a report released on Monday, Benzinga reports. The firm presently has a “buy” rating on the stock. TD Cowen’s price target would indicate a potential upside of 17.02% from the stock’s current price.

A number of other equities analysts have also issued reports on CBOE. Morgan Stanley upgraded shares of Cboe Global Markets from an “underweight” rating to an “overweight” rating and increased their target price for the company from $258.00 to $358.00 in a research report on Friday, October 9th. Piper Sandler dropped their price target on shares of Cboe Global Markets from $355.00 to $320.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 15th. Loop Capital set a $343.00 price target on shares of Cboe Global Markets in a research note on Wednesday, October 7th. Wells Fargo & Company assumed coverage on shares of Cboe Global Markets in a research note on Friday, October 2nd. They issued an “equal weight” rating and a $301.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Cboe Global Markets in a report on Monday, August 3rd. Five analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $321.18.

Cboe Global Markets Stock Down 1.7%

Shares of Cboe Global Markets stock opened at $292.25 on Monday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.21 and a quick ratio of 1.21. Cboe Global Markets has a 1-year low of $227.15 and a 1-year high of $371.18. The business’s fifty day moving average price is $286.72 and its two-hundred day moving average price is $292.81. The company has a market capitalization of $31.00 billion, a P/E ratio of 150.65 and a beta of 0.61.

Cboe Global Markets (BATS:CBOE) last released its quarterly earnings results on Friday, July 31st. The company reported $3.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.49 by $0.07. The company had revenue of $731.60 million during the quarter, compared to analysts’ expectations of $716.61 million. Cboe Global Markets had a return on equity of 20.05% and a net margin of 5.77%. The company’s revenue for the quarter was up 24.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.46 earnings per share. As a group, research analysts forecast that Cboe Global Markets will post 6.41 EPS for the current year.

Insider Buying and Selling at Cboe Global Markets

In other news, Director Janet Froetscher sold 937 shares of the company’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $278.95, for a total value of $261,376.15. Following the completion of the sale, the director owned 12,870 shares in the company, valued at $3,590,086.50. This represents a 6.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.51% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. BlackRock Inc. bought a new stake in shares of Cboe Global Markets during the 2nd quarter worth $2,474,799,000. Deutsche Bank AG acquired a new position in shares of Cboe Global Markets in the 2nd quarter worth $491,465,000. Jupiter Topco LLC acquired a new position in shares of Cboe Global Markets in the 2nd quarter worth $304,917,000. Legal & General Group Plc acquired a new position in shares of Cboe Global Markets in the 2nd quarter worth $175,870,000. Finally, Bank of America Corp DE acquired a new stake in shares of Cboe Global Markets during the second quarter worth $162,794,000. 81.73% of the stock is owned by institutional investors and hedge funds.

About Cboe Global Markets

Cboe Global Markets, Inc, through its subsidiaries, operates as an options exchange worldwide. It operates through six segments: Options, North American Equities, Europe and Asia Pacific, Futures, Global FX, and Digital. The Options segment trades in listed market indices. The North American Equities segment trades in listed U.S. and Canadian equities. This segment also offers exchange-traded products (ETP) transaction and listing services. The Europe and Asia Pacific segment provides pan-European listed equities and derivatives transaction services, ETPs, exchange-traded commodities, and international depository receipts, as well as ETP listings and clearing services.