Piper Sandler Upgrades Interactive Brokers Group Stock Forecast

Piper Sandler has raised its price target for shares of Interactive Brokers Group (NASDAQ: IBKR) from $163.00 to $200.00. This change was shared in a recent research report issued to clients on Tuesday. The investment firm currently holds an "overweight" rating on the stock, which suggests that they expect it to outperform the market.

The newly set price objective implies a potential increase of about 5.22% from the stock's previous closing price.

Analyst Recommendations and Price Targets

Additional analysts have also provided updated price targets for Interactive Brokers Group recently. Notably, the Goldman Sachs Group raised its target from $171.00 to $195.00 while maintaining a "buy" rating as of December 3rd. Similarly, UBS Group adjusted their price forecast from $155.00 to $170.00 on October 8th, also giving it a "buy" rating.

Jefferies Financial Group increased their price objective from $152.00 to $165.00, rating the stock as a "buy" back on October 4th. Furthermore, Keefe, Bruyette & Woods raised their target from $152.00 to $190.00, designating it as a "market perform" stock on December 20th.

Moreover, Barclays lifted its price target on Interactive Brokers Group from $165.00 to $214.00 on December 9th and gave the stock an "overweight" rating. Overall, one analyst rates the stock as a hold while seven others recommend buying it, according to data from MarketBeat.com. The general consensus rating stands at "Moderate Buy" with an average price target of $177.63.

Recent Stock Performance

On Tuesday, shares of Interactive Brokers opened at $190.07. The stock has shown a solid performance, with a 50-day simple moving average of $178.44 and a 200-day average of $146.45. The shares have fluctuated within a 1-year low of $83.86 and a peak of $193.42.

As for market metrics, the company has a market capitalization of $80.31 billion, a price-to-earnings (P/E) ratio of 29.02, and a P/E-to-growth (P/E/G) ratio of 1.41. The stock also has a beta of 0.87, indicating it is less volatile than the market.

Financial Performance

Interactive Brokers Group recently released its earnings results on October 15th. The financial provider reported earnings of $1.75 per share, slightly below the consensus estimate of $1.78. In terms of financial health, the company recorded a net margin of 7.89% and a return on equity of 4.83%. The reported revenue for the quarter stood at $2.45 billion, surpassing analyst expectations of $1.32 billion, compared to the same time last year when the company reported earnings of $1.55 per share.

Looking ahead, analysts expect Interactive Brokers Group to report earnings per share of around $6.82 for the current fiscal year.

Institutional Investment Activity

Recent changes in institutional ownership have also been noteworthy. Versant Capital Management Inc increased its stake in Interactive Brokers Group by 66.4% in the fourth quarter, bringing its total to 178 shares worth approximately $31,000. Fairfield Financial Advisors LTD has also entered into a new position during the second quarter, valued at around $32,000.

Additionally, UMB Bank n.a. raised its investment by 350% in the third quarter. They own 288 shares now worth about $40,000 after adding 224 shares recently. Similarly, Smithfield Trust Co has boosted its holdings by 80.6%, with a total of 345 shares valued at $48,000 following the acquisition of 154 additional shares last quarter.

Currently, around 23.80% of the stock is held by hedge funds and institutional investors.

About Interactive Brokers Group

Interactive Brokers Group, Inc. operates as an automated electronic broker on a global scale. The firm is involved in the execution, clearing, and settlement of trades across various financial instruments including stocks, options, futures, foreign exchange, bonds, mutual funds, exchange-traded funds (ETFs), precious metals, and cryptocurrencies.

Investment, Finance, Stocks