Interactive Brokers Group’s (IBKR) Overweight Rating Reiterated at Piper Sandler

Interactive Brokers Group (NASDAQ:IBKR)‘s stock had its “overweight” rating reissued by investment analysts at Piper Sandler in a research report issued on Wednesday,Benzinga reports. They presently have a $210.00 target price on the financial services provider’s stock, up from their prior target price of $200.00. Piper Sandler’s target price indicates a potential upside of 0.70% from the stock’s current price.

Several other equities research analysts have also commented on the stock. Jefferies Financial Group boosted their target price on shares of Interactive Brokers Group from $152.00 to $165.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. UBS Group boosted their price objective on shares of Interactive Brokers Group from $155.00 to $170.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. 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 report on Monday, January 13th. Barclays boosted their price objective on shares of Interactive Brokers Group from $224.00 to $231.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Citigroup boosted their price objective on shares of Interactive Brokers Group from $180.00 to $220.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Interactive Brokers Group has a consensus rating of “Moderate Buy” and an average price target of $192.25.

Interactive Brokers Group Stock Performance

Shares of NASDAQ IBKR opened at $208.55 on Wednesday. The firm has a market capitalization of $88.12 billion, a P/E ratio of 29.54, a PEG ratio of 1.40 and a beta of 0.87. Interactive Brokers Group has a one year low of $88.22 and a one year high of $212.84. The company’s fifty day moving average is $185.31 and its two-hundred day moving average is $152.25.

Interactive Brokers Group (NASDAQ:IBKR) last issued its earnings results on Tuesday, January 21st. The financial services provider reported $2.03 EPS for the quarter, topping the consensus estimate of $1.81 by $0.22. The company had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1,372,590.34 billion. Interactive Brokers Group had a net margin of 9.25% and a return on equity of 5.11%. The business’s revenue was up 21.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.52 EPS. On average, sell-side analysts forecast that Interactive Brokers Group will post 7.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IBKR. Millennium Management LLC lifted its holdings in Interactive Brokers Group by 1,292.1% in the 2nd quarter. Millennium Management LLC now owns 1,082,017 shares of the financial services provider’s stock valued at $132,655,000 after purchasing an additional 1,004,289 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. acquired a new position in shares of Interactive Brokers Group during the 3rd quarter valued at about $83,630,000. Waverton Investment Management Ltd acquired a new position in shares of Interactive Brokers Group during the 3rd quarter valued at about $26,946,000. Allspring Global Investments Holdings LLC increased its stake in shares of Interactive Brokers Group by 262.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 258,353 shares of the financial services provider’s stock valued at $36,004,000 after acquiring an additional 187,010 shares during the last quarter. Finally, Lord Abbett & CO. LLC acquired a new position in shares of Interactive Brokers Group during the 3rd quarter valued at about $25,085,000. 23.80% of the stock is currently owned by hedge funds and other institutional investors.

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.