Piper Sandler Forecasts Strong Price Appreciation for Interactive Brokers Group (NASDAQ:IBKR) Stock

Interactive Brokers Group (NASDAQ:IBKR) had its target price boosted by Piper Sandler from $45.50 to $65.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. Piper Sandler’s target price would indicate a potential upside of 9.34% from the company’s previous close.

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

Interactive Brokers Group Trading Down 0.3%

Shares of IBKR stock opened at $59.45 on Tuesday. Interactive Brokers Group has a 12 month low of $25.92 and a 12 month high of $60.38. The company has a market cap of $100.50 billion, a P/E ratio of 32.18, a PEG ratio of 2.75 and a beta of 1.25. The firm has a fifty day moving average price of $53.22 and a 200 day moving average price of $49.13.

Interactive Brokers Group (NASDAQ:IBKR) last announced its quarterly 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 net margin of 9.53% and a return on equity of 4.97%. The company had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.37 billion. On average, equities analysts forecast that Interactive Brokers Group will post 7.46 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Independent Advisor Alliance acquired a new stake in shares of Interactive Brokers Group in the fourth quarter valued at approximately $261,000. Farther Finance Advisors LLC boosted its position in Interactive Brokers Group by 27.7% during the fourth quarter. Farther Finance Advisors LLC now owns 1,034 shares of the financial services provider’s stock worth $183,000 after acquiring an additional 224 shares during the last quarter. Commonwealth Equity Services LLC boosted its holdings in shares of Interactive Brokers Group by 6.2% in the 4th quarter. Commonwealth Equity Services LLC now owns 17,008 shares of the financial services provider’s stock valued at $3,005,000 after purchasing an additional 990 shares during the last quarter. Natixis Advisors LLC boosted its holdings in shares of Interactive Brokers Group by 12.6% in the 4th quarter. Natixis Advisors LLC now owns 21,203 shares of the financial services provider’s stock valued at $3,746,000 after purchasing an additional 2,369 shares during the last quarter. Finally, Corient Private Wealth LLC boosted its holdings in shares of Interactive Brokers Group by 14.8% in the 4th quarter. Corient Private Wealth LLC now owns 8,800 shares of the financial services provider’s stock valued at $1,555,000 after purchasing an additional 1,132 shares during the last quarter. 23.80% of the stock is currently owned by institutional investors and hedge funds.

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.