Piper Sandler Increases Interactive Brokers Group (NASDAQ:IBKR) Price Target to $65.00

Interactive Brokers Group (NASDAQ:IBKR - Free Report) had its target price hoisted by Piper Sandler from $45.50 to $65.00 in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have an overweight rating on the financial services provider's stock.

A number of other equities research analysts have also weighed in on IBKR. The Goldman Sachs Group boosted their target price on shares of Interactive Brokers Group from $53.00 to $60.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Wall Street Zen raised shares of Interactive Brokers Group from a "sell" rating to a "hold" rating in a report on Saturday, June 21st. Citigroup upped their price objective on shares of Interactive Brokers Group from $53.75 to $60.00 and gave the company a "buy" rating in a research note on Monday, July 7th. Barclays reaffirmed an "overweight" rating and issued a $65.00 price objective on shares of Interactive Brokers Group in a research note on Thursday, July 10th. Finally, Bank of America reduced their price objective on shares of Interactive Brokers Group from $66.25 to $60.75 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $58.38.

Interactive Brokers Group Trading Down 0.4%

IBKR traded down $0.22 during trading on Tuesday, reaching $59.41. 4,694,186 shares of the company's stock were exchanged, compared to its average volume of 5,834,355. Interactive Brokers Group has a one year low of $25.92 and a one year high of $60.35. The stock has a market capitalization of $100.43 billion, a PE ratio of 32.14, a price-to-earnings-growth ratio of 2.75 and a beta of 1.25. The firm has a fifty day moving average price of $52.93 and a two-hundred day moving average price of $49.05.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last posted its earnings results on Tuesday, April 15th. The financial services provider reported $0.47 earnings per share for the quarter, missing analysts' consensus estimates of $0.48 by ($0.01). Interactive Brokers Group had a return on equity of 4.97% and a net margin of 9.53%. The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.37 billion. Sell-side analysts expect that Interactive Brokers Group will post 7.46 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Interactive Brokers Group by 2.8% during the 1st quarter. Vanguard Group Inc. now owns 10,351,521 shares of the financial services provider's stock valued at $1,714,108,000 after purchasing an additional 280,004 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Interactive Brokers Group by 91.4% during the 4th quarter. Bank of America Corp DE now owns 2,338,972 shares of the financial services provider's stock valued at $413,226,000 after acquiring an additional 1,117,186 shares during the period. Geode Capital Management LLC grew its stake in shares of Interactive Brokers Group by 9.4% during the 4th quarter. Geode Capital Management LLC now owns 2,259,032 shares of the financial services provider's stock valued at $399,205,000 after acquiring an additional 193,497 shares during the period. Wellington Management Group LLP grew its stake in shares of Interactive Brokers Group by 8,249.3% during the 4th quarter. Wellington Management Group LLP now owns 1,494,029 shares of the financial services provider's stock valued at $263,950,000 after acquiring an additional 1,476,135 shares during the period. Finally, American Century Companies Inc. grew its stake in shares of Interactive Brokers Group by 1,476.3% during the 1st quarter. American Century Companies Inc. now owns 1,433,981 shares of the financial services provider's stock valued at $237,453,000 after acquiring an additional 1,343,007 shares during the period. Institutional investors own 23.80% of the company's stock.

About Interactive Brokers Group

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.