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Cboe Global Markets, Inc. (CBOE), headquartered in Chicago, Illinois, is a leading global market infrastructure provider and tradable products. With a market cap of $20.1 billion, Cboe operates a diverse range of equity, options, futures, and forex markets, offering innovative solutions to investors, traders, and institutions worldwide.
Companies with a market value of $10 billion or more are classified as “large-cap stocks,” Cboe Global holds its place in this category. With a steadfast commitment to innovation and market integrity, Cboe delivers cutting-edge trading solutions, advanced market data, and global connectivity. The company’s efforts empower investors and institutions while driving growth and efficiency in the financial markets worldwide.
Shares of Cboe Global are trading 13.6% below their 52-week high of $221.66, which they hit on Nov. 27. The stock has declined 8% over the past three months, lagging behind the iShares U.S. Broker-Dealers & Securities Exchanges ETF (IAI), which has gained 12.5% over the same time frame.
Over the longer term, CBOE has climbed 11.2% over the past six months, trailing IAI's strong 23.6% return. Likewise, over the past 52 weeks, CBOE's 10.1% gain falls short of IAI's impressive 37.1% increase.
Since early December, the CBOE has consistently remained below its 50-day moving average, signaling a bearish trend. However, despite recent fluctuations, CBOE has traded above its 200-day moving average since July.
Shares of Cboe fell 1.7% on Nov. 1 following the release of its Q3 earnings results. The company reported a record adjusted EPS of $2.22, an 8% year-over-year increase, and achieved record net revenue of $532.0 million, reflecting 11% growth.
Additionally, Cboe raised its 2024 organic total net revenue growth target to the 7% to 9% range, up from the previous range of 6% to 8%, while reaffirming the lower end of its Data and Access Solutions organic net revenue growth target at 7% to 10%.
CBOE’s rival, CME Group Inc. (CME), has outperformed the stock and gained 13% over the past 52 weeks.
Analysts maintain a cautiously optimistic outlook on its prospects, noting the stock's underperformance relative to the broader sector. CBOE has a consensus rating of “Moderate Buy” from the 17 analysts covering the stock and has a mean price target of $216.44, suggesting a potential upside of 13% from its current price.
