Interactive Brokers Group (NASDAQ:IBKR) Stock Rated Outperform in New Coverage at Evercore

Key Points

• Evercore initiated coverage of Interactive Brokers Group with an “outperform” rating and a $100 price target, implying 13.78% upside from the prior close.
• Analyst sentiment is broadly positive: IBKR has a consensus “Moderate Buy” rating and an average price target of $103.18, with recent coverage including Wells Fargo’s “overweight” rating and a $102 target.
• The company exceeded quarterly expectations, reporting $0.69 in EPS versus a $0.64 consensus estimate and $1.88 billion in revenue, up 28.1% year over year.

Analysts at Evercore assumed coverage on shares of Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) in a research report issued to clients and investors on Monday, Marketbeat Ratings reports. The firm set an "outperform" rating and a $100.00 price target on the financial services provider's stock. Evercore's target price would suggest a potential upside of 13.78% from the company's previous close.

IBKR has been the subject of several other reports. Jefferies Financial Group raised their target price on shares of Interactive Brokers Group from $102.00 to $108.00 and gave the company a "buy" rating in a research note on Wednesday, July 22nd. Rothschild & Co Redburn boosted their price target on shares of Interactive Brokers Group from $94.00 to $95.00 and gave the stock a "buy" rating in a research note on Monday, September 21st. Weiss Ratings cut shares of Interactive Brokers Group from a "hold (c+)" rating to a "hold (c)" rating in a research note on Friday, October 2nd. Zacks Research downgraded shares of Interactive Brokers Group from a "strong-buy" rating to a "hold" rating in a report on Thursday, September 24th. Finally, Wells Fargo & Company began coverage on Interactive Brokers Group in a research report on Friday, October 2nd. They set an "overweight" rating and a $102.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $103.18.

Interactive Brokers Group Price Performance

Shares of IBKR opened at $87.89 on Monday. The firm has a market cap of $149.54 billion, a P/E ratio of 35.16, a price-to-earnings-growth ratio of 1.56 and a beta of 1.37. Interactive Brokers Group has a 1 year low of $58.95 and a 1 year high of $98.75. The company has a 50 day simple moving average of $90.54 and a two-hundred day simple moving average of $86.74.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last released its earnings results on Tuesday, July 21st. The financial services provider reported $0.69 EPS for the quarter, topping the consensus estimate of $0.64 by $0.05. Interactive Brokers Group had a net margin of 9.94% and a return on equity of 5.37%. The firm had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter in the previous year, the firm earned $0.51 earnings per share. The company's quarterly revenue was up 28.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Interactive Brokers Group will post 2.69 earnings per share for the current year.

Institutional Investors Weigh In On Interactive Brokers Group

Several large investors have recently bought and sold shares of the business. Reflection Asset Management bought a new position in Interactive Brokers Group during the fourth quarter valued at $26,000. Tobam purchased a new position in shares of Interactive Brokers Group in the 4th quarter worth $30,000. SHP Wealth Management bought a new stake in shares of Interactive Brokers Group in the 4th quarter worth about $31,000. Wealth Enhancement Trust Services Inc. increased its holdings in shares of Interactive Brokers Group by 1,217.2% in the 3rd quarter. Wealth Enhancement Trust Services Inc. now owns 382 shares of the financial services provider's stock worth $33,000 after buying an additional 353 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC increased its holdings in shares of Interactive Brokers Group by 584.6% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 534 shares of the financial services provider's stock worth $36,000 after buying an additional 456 shares during the last quarter. Institutional investors own 23.80% of the company's stock.

About Interactive Brokers Group

Interactive Brokers Group, Inc is a global electronic brokerage company that provides trading, investment and custody services to individual investors, financial advisors, hedge funds, proprietary trading firms, family offices and other institutional clients. The company offers access to a broad range of markets and financial instruments, including stocks, options, futures, currencies, bonds, exchange-traded funds and mutual funds.

Interactive Brokers provides its services through digital platforms such as Trader Workstation, IBKR Mobile and Client Portal, along with application programming interfaces for clients seeking automated or integrated trading capabilities.