TD Cowen Reiterates Buy Rating for Cboe Global Markets
TD Cowen has reiterated its buy rating for Cboe Global Markets, Inc. with a price target of $263, a 7.28% upside from the current price.
Key Points
- TD Cowen reiterated its buy rating on Cboe Global Markets, Inc. with a $263 price target on June 22, 2026.
- TD Cowen's $263 price target implies 7.28% upside from Cboe Global Markets, Inc.'s ($CBOE) current $245.15 share price.
- Shares of Cboe Global Markets traded at approximately $251.51 on Monday, with a market cap of about $26.1 billion.
- Insider buying and selling activity includes transactions by senior executives and board members in May 2026.
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TD Cowen has reiterated its buy rating for Cboe Global Markets, Inc. (Cboe US:CBOE), setting a price target of $263. This announcement came on June 22, 2026, as shares traded near $251.51 on Monday. The reiteration underscores confidence in the company's potential.
TD Cowen vs. the S&P 500
Hypothetical, simulated performance of disclosed positions vs. the S&P 500. Not realized profit and not investment advice. Past performance does not indicate future results. Details.
Cboe Global Markets, Inc. Stock Down 20.8%
Shares of Cboe Global Markets traded around $251.51 on Monday. The company boasts a market cap of approximately $26.1 billion. Its P/E ratio stands at 21.27, with a forward P/E of 16.93, and a beta of 0.395. Over the past year, the stock has ranged between $223.54 and $371.18. The 50-day moving average is $315.81, while the 200-day moving average is $274.48. The firm maintains a current ratio of 1.39 and a quick ratio of 0.59, with a debt-to-equity ratio of 29.49.
$CBOE price target
Past daily closes and this analyst's 12-month price target. Not investment advice.
Recent Earnings
Cboe Global Markets reported revenue of $4.79 billion, reflecting a growth rate of 6.5%. The net margin was 25.77%, and return on equity (ROE) was 25.14%. The company posted an EPS of $11.71. The next earnings announcement is expected on July 31, 2026.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
4 analysts raised price targets.
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EPS & revenue
EPS beat estimates by 10.3%. Revenue beat estimates by 79.6%.
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Profit surprise
EBITDA beat by 13 percent. Operating income beat by 9 percent.
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Pre-earnings setup
Expectations were about average.
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Analyst signal
4 target raises.
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Earnings quality
Gross margin up 5.3 points. Operating margin up 10.1 points. Positive free cash flow.
Earnings Call Summary
Cboe had an exceptional first quarter with record net revenue of $729 million, up 29 percent year over year, and adjusted earnings per share of $3.70, up 48 percent. SPX options hit 4.9 million contracts in average daily volume with 34 percent growth, while all major segments including derivatives, cash markets, and foreign exchange delivered strong double digit growth. Management announced a major strategic realignment cutting the workforce by 20 percent and exiting lower-return businesses to focus resources on core derivatives, event contracts, and clearing expansion.
Guidance Cboe raised its forecast for DataVantage revenue to low double digit growth and expects total organic growth of low double digit to mid-teens range for the full year. The company also lowered operating expense guidance to $838 million to $853 million from $864 million to $879 million, reflecting $20 million to $25 million in savings from the strategic realignment in 2026.
Clearly positive report. Results were better than expected, though the forward reset is not the strongest.
Dividend
Cboe Global Markets offers an annual dividend rate of $2.88, yielding 1.16%. The dividend payout ratio is 23.83%, supporting its reputation for returning value to shareholders.
Insider Buying and Selling at Cboe Global Markets, Inc.
Recent insider activity at Cboe Global Markets includes purchases by several executives. On May 14, 2026, Fredric Tomczyk, Roderick Palmore, Erin Mansfield, and Jill Goodman each bought 530 shares. On May 19, 2026, Allen Wilkinson, the SVP and Chief Accounting Officer, acquired 166 shares. Conversely, Janet Froetscher sold 1,223 shares on May 18, 2026, at an average price of $358.09 under a planned transaction.
Analysts Set New Price Targets
On June 22, 2026, TD Cowen maintained its buy rating with a $263 price target. Other recent analyst activity includes UBS maintaining a hold rating with a $335 target on May 4, 2026, and Barclays maintaining a buy rating with a $382 target.
About Cboe Global Markets
Cboe Global Markets, Inc., headquartered in Chicago, Illinois, operates as a leading derivatives and securities exchange network. It provides trading, clearing, and investment solutions globally through segments like Options, North American Equities, Futures, and Global FX. The company, led by CEO Craig Steven Donohue, employs around 1,661 people, facilitating various trading services and strategic partnerships.
Bottom Line
Cboe Global Markets remains a key player in the financial services sector, with TD Cowen's recent rating reiteration reflecting ongoing confidence. Investors track analyst ratings and insider activity to gauge market sentiment. Remember, 13F filings and analyst reports are backward-looking and may not represent current positions.
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