Piper Sandler Reiterates “Overweight” Rating for Interactive Brokers Group (NASDAQ:IBKR)

Interactive Brokers Group (NASDAQ:IBKR)‘s stock had its “overweight” rating reiterated by stock analysts at Piper Sandler in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $210.00 price target on the financial services provider’s stock, up from their prior price target of $200.00. Piper Sandler’s target price would suggest a potential downside of 0.15% from the company’s previous close.

Several other brokerages have also recently weighed in on IBKR. Keefe, Bruyette & Woods boosted their price objective on shares of Interactive Brokers Group from $190.00 to $195.00 and gave the stock a “market perform” rating in a research note on Monday, January 13th. The Goldman Sachs Group upped their price objective on shares of Interactive Brokers Group from $171.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Citigroup upped their price objective on shares of Interactive Brokers Group from $180.00 to $220.00 and gave the company a “buy” rating in a report on Friday, January 10th. Jefferies Financial Group upped their price objective on shares of Interactive Brokers Group from $152.00 to $165.00 and gave the company a “buy” rating in a report on Friday, October 4th. Finally, Barclays upped their target price on shares of Interactive Brokers Group from $224.00 to $231.00 and gave the stock an “overweight” rating in a report on Wednesday. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $192.25.

Interactive Brokers Group Stock Performance

Shares of NASDAQ IBKR traded up $17.48 during midday trading on Wednesday, reaching $210.31. The company’s stock had a trading volume of 1,456,586 shares, compared to its average volume of 1,268,460. Interactive Brokers Group has a fifty-two week low of $88.22 and a fifty-two week high of $210.52. The business’s 50 day moving average price is $184.08 and its two-hundred day moving average price is $151.45. The company has a market cap of $88.86 billion, a P/E ratio of 31.98, a P/E/G ratio of 1.38 and a beta of 0.87.

Interactive Brokers Group (NASDAQ:IBKR) last announced its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $2.03 EPS for the quarter, beating the consensus estimate of $1.81 by $0.22. Interactive Brokers Group had a net margin of 7.89% and a return on equity of 4.83%. The business had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1,372,590.34 billion. During the same period in the previous year, the business earned $1.52 earnings per share. The company’s revenue was up 21.8% on a year-over-year basis. Sell-side analysts forecast that Interactive Brokers Group will post 6.99 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Interactive Brokers Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in IBKR. Pacer Advisors Inc. grew its position in shares of Interactive Brokers Group by 10.5% during the 4th quarter. Pacer Advisors Inc. now owns 28,995 shares of the financial services provider’s stock valued at $5,123,000 after acquiring an additional 2,752 shares during the period. KBC Group NV grew its position in shares of Interactive Brokers Group by 34.7% during the 4th quarter. KBC Group NV now owns 147,048 shares of the financial services provider’s stock valued at $25,979,000 after acquiring an additional 37,890 shares during the period. Union Bancaire Privee UBP SA bought a new position in shares of Interactive Brokers Group during the 4th quarter valued at approximately $3,750,000. Blue Trust Inc. boosted its holdings in Interactive Brokers Group by 90.7% in the 4th quarter. Blue Trust Inc. now owns 185 shares of the financial services provider’s stock worth $33,000 after buying an additional 88 shares during the period. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new position in Interactive Brokers Group in the 4th quarter worth approximately $244,000. Hedge funds and other 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.