The Goldman Sachs Group Forecasts Strong Price Appreciation for Interactive Brokers Group (NASDAQ:IBKR) Stock

Interactive Brokers Group (NASDAQ:IBKR) had its price objective lifted by research analysts at The Goldman Sachs Group from $171.00 to $195.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. The Goldman Sachs Group’s price target indicates a potential upside of 4.38% from the stock’s previous close.

Several other research firms have also commented on IBKR. Barclays cut their price objective on Interactive Brokers Group from $166.00 to $165.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Jefferies Financial Group increased their price objective on Interactive Brokers Group from $152.00 to $165.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Piper Sandler reaffirmed an “overweight” rating and set a $163.00 target price on shares of Interactive Brokers Group in a report on Wednesday, October 16th. Finally, UBS Group increased their target price on shares of Interactive Brokers Group from $155.00 to $170.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $160.00.

Interactive Brokers Group Price Performance

NASDAQ:IBKR traded up $1.14 during trading hours on Tuesday, reaching $186.82. The company had a trading volume of 248,814 shares, compared to its average volume of 1,010,369. The firm has a market cap of $78.94 billion, a PE ratio of 28.52, a price-to-earnings-growth ratio of 1.50 and a beta of 0.85. Interactive Brokers Group has a 1-year low of $77.75 and a 1-year high of $193.42. The business’s 50 day moving average price is $160.09 and its 200-day moving average price is $136.09.

Interactive Brokers Group (NASDAQ:IBKR) last issued its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $1.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.78 by ($0.03). Interactive Brokers Group had a return on equity of 4.83% and a net margin of 7.89%. The business had revenue of $2.45 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter in the prior year, the company posted $1.55 EPS. On average, analysts expect that Interactive Brokers Group will post 6.82 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Interactive Brokers Group

A number of hedge funds have recently modified their holdings of the business. Tortoise Investment Management LLC boosted its stake in Interactive Brokers Group by 76.6% during the second quarter. Tortoise Investment Management LLC now owns 256 shares of the financial services provider’s stock worth $31,000 after buying an additional 111 shares during the period. Fairfield Financial Advisors LTD purchased a new position in shares of Interactive Brokers Group during the 2nd quarter worth approximately $32,000. UMB Bank n.a. lifted its stake in Interactive Brokers Group by 350.0% during the third quarter. UMB Bank n.a. now owns 288 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 224 shares in the last quarter. Smithfield Trust Co grew its stake in shares of Interactive Brokers Group by 80.6% in the third quarter. Smithfield Trust Co now owns 345 shares of the financial services provider’s stock valued at $48,000 after buying an additional 154 shares in the last quarter. Finally, Darwin Wealth Management LLC purchased a new stake in shares of Interactive Brokers Group in the 3rd quarter valued at $49,000. 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.