Barclays Increases Interactive Brokers Group (NASDAQ:IBKR) Price Target to $108.00

Key Points

• Barclays raised its price target on Interactive Brokers Group from $93 to $108 and kept an overweight rating, implying about 13.7% upside from the prior close.
• Other analysts are generally constructive on the stock, with recent targets from Goldman Sachs, BMO Capital Markets, and Piper Sandler, while MarketBeat shows an overall Moderate Buy consensus and an average target of $90.25.
• Interactive Brokers recently reported better-than-expected earnings of $0.60 per share, with revenue up 17% year over year, and the stock was trading near $94.99 at the time of the report.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) had its target price upped by equities research analysts at Barclays from $93.00 to $108.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the financial services provider's stock. Barclays's target price would suggest a potential upside of 13.70% from the company's previous close.

A number of other research analysts have also commented on the company. The Goldman Sachs Group set a $98.00 price objective on Interactive Brokers Group in a report on Friday, May 1st. BMO Capital Markets increased their price target on Interactive Brokers Group from $80.00 to $93.00 and gave the company an "outperform" rating in a report on Wednesday, April 22nd. Weiss Ratings lowered shares of Interactive Brokers Group from a "hold (c+)" rating to a "hold (c)" rating in a research report on Monday, June 29th. China Renaissance began coverage on shares of Interactive Brokers Group in a research report on Tuesday. They set a "hold" rating for the company. Finally, Piper Sandler raised their price target on Interactive Brokers Group from $80.00 to $88.00 and gave the company an "overweight" rating in a research report on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $90.25.

Interactive Brokers Group Price Performance

Shares of Interactive Brokers Group stock opened at $94.99 on Thursday. The firm has a market cap of $161.13 billion, a price-to-earnings ratio of 40.74, a P/E/G ratio of 2.61 and a beta of 1.33. The stock has a 50-day simple moving average of $87.72 and a 200-day simple moving average of $77.17. Interactive Brokers Group has a 52-week low of $57.62 and a 52-week high of $97.84.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last issued its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.03. The firm had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.69 billion. Interactive Brokers Group had a net margin of 9.65% and a return on equity of 5.19%. The company's revenue for the quarter was up 17.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.94 earnings per share. As a group, equities research analysts predict that Interactive Brokers Group will post 2.46 earnings per share for the current year.

Insider Buying and Selling

In other Interactive Brokers Group news, Director Lawrence E. Harris sold 26,000 shares of Interactive Brokers Group stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $76.93, for a total transaction of $2,000,180.00. Following the sale, the director owned 173,482 shares in the company, valued at $13,345,970.26. The trade was a 13.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.80% of the stock is currently owned by company insiders.

Institutional Trading of Interactive Brokers Group

Institutional investors have recently made changes to their positions in the business. Reflection Asset Management bought a new position in Interactive Brokers Group during the fourth quarter worth about $26,000. IMA Advisory Services Inc. grew its stake in shares of Interactive Brokers Group by 64.3% in the 4th quarter. IMA Advisory Services Inc. now owns 455 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 178 shares during the period. Tobam acquired a new position in shares of Interactive Brokers Group in the 4th quarter worth approximately $30,000. Entrust Financial LLC acquired a new position in shares of Interactive Brokers Group in the 4th quarter worth approximately $31,000. Finally, SHP Wealth Management bought a new position in shares of Interactive Brokers Group during the 4th quarter worth approximately $31,000. 23.80% of the stock is currently owned by institutional investors and hedge funds.

Interactive Brokers Group Company Profile

Interactive Brokers Group, Inc NASDAQ: IBKR is a global electronic brokerage holding company that provides trading, clearing and custody services to retail traders, institutional investors, proprietary trading groups and financial advisors. The firm offers direct access to a wide range of asset classes, including equities, options, futures, foreign exchange, bonds and exchange-traded funds across many international markets. Interactive Brokers emphasizes electronic order execution, automated trading and low transaction costs as core differentiators for its clients.

Its product suite centers on advanced trading platforms and infrastructure.

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