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With a market cap of $28.8 billion, Cboe Global Markets, Inc. (CBOE) is a global exchange operator providing trading, clearing, and market data services across options, equities, futures, FX, and digital assets in the United States and internationally. It operates a diversified platform spanning North America, Europe, and Asia Pacific, with strategic partnerships with leading index providers such as S&P Dow Jones Indices, FTSE Russell, and MSCI.
The holding company's shares have outperformed the broader market over the past 52 weeks. CBOE stock has increased 32.1% over this time frame, while the broader S&P 500 Index ($SPX) has rallied 11.8%. Moreover, shares of the company are up 9.6% on a YTD basis, compared to SPX’s marginal decline.
Looking closer, shares of the Chicago, Illinois-based company have also outpaced the State Street Financial Select Sector SPDR ETF’s (XLF) slight rise over the past 52 weeks.
Cboe Global Markets reported better-than-expected Q4 2025 adjusted EPS of $3.06, and net revenue of $671.1 million on Feb. 6. The company delivered strong profitability, with operating income up 35% to $403.8 million, net income rising 60% to $312.2 million, and standout performance in the Options segment, where revenue climbed 34% to $433.1 million driven by higher trading volumes. However, the stock fell marginally on that day.
For the fiscal year ending in December 2026, analysts expect CBOE’s adjusted EPS to grow 6.5% year-over-year to $11.36. The company’s earnings surprise history is promising. It beat the consensus estimates in the last four quarters.
Among the 16 analysts covering the stock, the consensus rating is a “Hold.” That’s based on four “Strong Buy” ratings, nine “Holds,” and three “Strong Sell.”
On Feb. 9, Barclays analyst Benjamin Budish raised the price target on Cboe Global Markets to $317 and reiterated an “Overweight” rating.
As of writing, the stock is trading above the mean price target of $277. The Street-high price target of $317 implies a potential upside of 13.3% from the current price.
