Cboe Global Markets (NASDAQ:CBOE) Hits New 12-Month High - Time to Buy?

Key Points

• Cboe Global Markets shares reached a new 52-week high of $252.31, indicating strong performance and investor interest.
• Brokerages have set various price targets for the stock, with UBS Group raising its target to $255.00, while the consensus price target sits at $231.38.
• In the latest earnings report, Cboe posted $2.46 earnings per share, surpassing estimates and showcasing a 14.3% increase in revenue compared to the previous year.

Shares of Cboe Global Markets, Inc. (NASDAQ:CBOE - Get Free Report) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $252.31 and last traded at $252.22, with a volume of 49313 shares. The stock had previously closed at $249.50.

Wall Street Analysts Forecast Growth

CBOE has been the subject of a number of analyst reports. Keefe, Bruyette & Woods increased their price target on Cboe Global Markets from $243.00 to $248.00 and gave the stock a "market perform" rating in a research note on Monday, August 4th. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $254.00 price target on shares of Cboe Global Markets in a research note on Monday, August 4th. Morgan Stanley set a $218.00 price target on Cboe Global Markets and gave the stock an "underweight" rating in a research note on Tuesday, July 15th. Piper Sandler increased their price target on Cboe Global Markets from $250.00 to $265.00 and gave the stock an "overweight" rating in a research note on Monday, August 4th. Finally, Citigroup increased their price target on Cboe Global Markets from $230.00 to $245.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 8th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $231.38.

Cboe Global Markets Trading Up 1.2%

The stock has a market cap of $26.42 billion, a PE ratio of 34.98, a price-to-earnings-growth ratio of 1.75 and a beta of 0.46. The stock has a 50-day moving average price of $234.06 and a two-hundred day moving average price of $222.16. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.78 and a quick ratio of 1.39.

Cboe Global Markets (NASDAQ:CBOE - Get Free Report) last released its quarterly earnings results on Friday, August 1st. The company reported $2.46 EPS for the quarter, topping the consensus estimate of $2.43 by $0.03. Cboe Global Markets had a return on equity of 22.02% and a net margin of 18.64%. The company's revenue for the quarter was up 14.3% on a year-over-year basis. During the same period last year, the company earned $2.15 earnings per share. Sell-side analysts forecast that Cboe Global Markets, Inc. will post 8.96 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Catherine R. Clay sold 3,598 shares of Cboe Global Markets stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $226.58, for a total value of $815,234.84. Following the completion of the transaction, the executive vice president owned 2,183 shares in the company, valued at approximately $494,624.14. This trade represents a 62.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.22% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Alliancebernstein L.P. grew its position in Cboe Global Markets by 23.1% in the first quarter. Alliancebernstein L.P. now owns 9,464,537 shares of the company's stock worth $2,141,730,000 after acquiring an additional 1,779,048 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its position in Cboe Global Markets by 1.3% in the first quarter. T. Rowe Price Investment Management Inc. now owns 4,069,233 shares of the company's stock worth $920,827,000 after acquiring an additional 54,054 shares in the last quarter. Geode Capital Management LLC grew its position in Cboe Global Markets by 1.8% in the second quarter. Geode Capital Management LLC now owns 2,855,971 shares of the company's stock worth $664,186,000 after acquiring an additional 51,873 shares in the last quarter. Invesco Ltd. boosted its position in shares of Cboe Global Markets by 15.6% during the first quarter. Invesco Ltd. now owns 1,357,792 shares of the company's stock valued at $307,255,000 after buying an additional 182,725 shares during the period. Finally, Northern Trust Corp boosted its position in shares of Cboe Global Markets by 6.1% during the first quarter. Northern Trust Corp now owns 1,319,236 shares of the company's stock valued at $298,530,000 after buying an additional 76,346 shares during the period. Hedge funds and other institutional investors own 82.67% of the company's stock.

About Cboe Global Markets

Cboe Global Markets, Inc is one of the largest stock exchange operators by volume in the United States and a leading market globally for ETP trading. Cboe offers trading across a diverse range of products in multiple asset classes and geographies, including options, futures, U.S. and European equities, exchange-traded products (ETPs), global foreign exchange (FX) and multi-asset volatility products based on the VIX Index.