BMO Capital Markets Boosts Interactive Brokers Group (NASDAQ:IBKR) Price Target to $84.00

Key Points

• BMO Capital Markets has raised the price target for Interactive Brokers Group (IBKR) from $82.00 to $84.00, indicating a potential upside of 22.59% from the current price.
• In its latest earnings report, Interactive Brokers exceeded expectations with a reported EPS of $0.57, above the consensus estimate of $0.49, and its revenue increased by 21.2% year-over-year.
• Recently, several analysts have rated IBKR with varying recommendations, resulting in an average rating of “Moderate Buy” and a consensus target price of $71.34.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) had its price target hoisted by investment analysts at BMO Capital Markets from $82.00 to $84.00 in a report released on Friday,Benzinga reports. The firm currently has an "outperform" rating on the financial services provider's stock. BMO Capital Markets' price target suggests a potential upside of 22.59% from the company's current price.

IBKR has been the subject of a number of other research reports. Barclays set a $80.00 price objective on Interactive Brokers Group in a research report on Friday. Weiss Ratings restated a "hold (c)" rating on shares of Interactive Brokers Group in a research report on Tuesday. Piper Sandler set a $80.00 price objective on Interactive Brokers Group and gave the company an "overweight" rating in a research report on Tuesday. The Goldman Sachs Group restated a "buy" rating and set a $91.00 price objective on shares of Interactive Brokers Group in a research report on Friday. Finally, Zacks Research lowered Interactive Brokers Group from a "strong-buy" rating to a "hold" rating in a research report on Thursday, October 2nd. Seven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $71.34.

Interactive Brokers Group Stock Performance

Shares of IBKR stock opened at $68.52 on Friday. Interactive Brokers Group has a 52-week low of $32.82 and a 52-week high of $73.35. The firm has a market capitalization of $116.22 billion, a PE ratio of 35.23, a PEG ratio of 2.85 and a beta of 1.22. The stock has a fifty day simple moving average of $65.30 and a two-hundred day simple moving average of $56.22.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last issued its quarterly earnings results on Thursday, October 16th. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.49 by $0.08. Interactive Brokers Group had a return on equity of 4.92% and a net margin of 9.78%.The business had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.47 billion. During the same quarter in the prior year, the business posted $1.61 EPS. Interactive Brokers Group's revenue for the quarter was up 21.2% compared to the same quarter last year. On average, sell-side analysts forecast that Interactive Brokers Group will post 7.46 EPS for the current fiscal year.

Insider Transactions at Interactive Brokers Group

In other Interactive Brokers Group news, CFO Paul Jonathan Brody sold 17,058 shares of the firm's stock in a transaction dated Friday, September 26th. The shares were sold at an average price of $65.78, for a total value of $1,122,075.24. Following the completion of the sale, the chief financial officer owned 28,289 shares of the company's stock, valued at $1,860,850.42. This trade represents a 37.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 1,205,683 shares of company stock valued at $77,217,965 over the last ninety days. 2.97% of the stock is owned by company insiders.

Institutional Trading of Interactive Brokers Group

Institutional investors and hedge funds have recently modified their holdings of the stock. N.E.W. Advisory Services LLC bought a new stake in shares of Interactive Brokers Group during the first quarter valued at approximately $26,000. Nvwm LLC bought a new position in Interactive Brokers Group in the first quarter worth approximately $33,000. ASR Vermogensbeheer N.V. bought a new position in Interactive Brokers Group in the first quarter worth approximately $33,000. North Capital Inc. bought a new position in Interactive Brokers Group in the first quarter worth approximately $49,000. Finally, Quarry LP raised its stake in Interactive Brokers Group by 486.3% in the first quarter. Quarry LP now owns 299 shares of the financial services provider's stock worth $50,000 after buying an additional 248 shares in the last quarter. Institutional investors own 23.80% of the company's stock.

Interactive Brokers Group Company Profile

Interactive Brokers Group, Inc operates as an automated electronic broker worldwide. The company engages in the execution, clearance, and settlement of trades in stocks, options, futures, foreign exchange instruments, bonds, mutual funds, exchange traded funds (ETFs), precious metals, and cryptocurrencies.

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