These Analysts Revise Their Forecasts On Cboe Global Markets Following Q4 Results

Cboe Global Markets, Inc. CBOE reported better-than-expected fourth-quarter earnings on Friday.

Cboe Global Markets posted adjusted earnings of $2.06 per share, beating market estimates of $2.03 per share. The company’s quarterly sales came in at $499.00 million versus expectations of $511.68 million, according to data from Benzinga Pro.

Cboe Global Markets sees FY24 organic net revenue growth of 5% to 7%.

"I am pleased to report that Cboe generated another year of strong revenue growth and financial results in 2023," said Fredric Tomczyk, Cboe Global Markets Chief Executive Officer. "Our Derivatives and Data and Access Solutions categories helped drive the 10% net revenue growth and 13% adjusted diluted EPS growth for the year as both strong secular and cyclical trends helped boost these business lines. In addition, we made meaningful progress on our strategic initiatives as a company and are well-positioned for 2024. This year we plan to unlock additional value from our global derivatives and securities network by leveraging our core strengths – our global footprint, superior technology and product innovation – to help drive continued strong revenue growth and financial results."

Cboe Global Markets shares fell 1.1% to close at $182.78 on Friday.

These analysts made changes to their price targets on Cboe Global Markets after the company reported quarterly results.

• Barclays cut the price target on Cboe Global Markets from $204 to $200. Barclays analyst Benjamin Budish maintained an Overweight rating.
• Rosenblatt increased Cboe Global Markets price target from $192 to $200. Rosenblatt analyst Andrew Bond maintained a Buy rating.
• Oppenheimer boosted the price target on Cboe Global Markets from $201 to $206. Oppenheimer analyst Owen Lau maintained an Outperform rating.

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