Piper Sandler Analyst Bullish On Interactive Brokers, Sees 26% Account Growth in 2024
Portfolio Pulse from Lekha Gupta
Piper Sandler analyst Patrick Moley has raised estimates for Interactive Brokers Group, Inc. (NASDAQ:IBKR) following strong Q2 FY24 results. The company reported sales of $1.29 billion and EPS of $1.76, both beating analyst estimates. Moley projects 26% account growth in FY24 and increased EPS estimates. The analyst maintains an Overweight rating with a $140 price target. Barclays also raised its price target to $147. Investors can gain exposure via Alpha Dog ETF (NYSE:RUFF) and IShares Focused Value Factor ETF (NYSE:FOVL).
July 17, 2024 | 5:41 pm
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IShares Focused Value Factor ETF (NYSE:FOVL) includes Interactive Brokers (IBKR), which has received positive analyst ratings and increased price targets following strong Q2 FY24 results.
FOVL holds IBKR, which has received positive news. This could lead to a short-term increase in FOVL's value as IBKR's stock price rises.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
Piper Sandler and Barclays have raised their price targets for Interactive Brokers Group, Inc. (NASDAQ:IBKR) following strong Q2 FY24 results. The company reported sales and EPS that beat analyst estimates, and account growth is projected at 26% for FY24.
The positive earnings report and increased price targets from two major analysts are likely to boost investor confidence and drive the stock price up in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Alpha Dog ETF (NYSE:RUFF) provides exposure to Interactive Brokers (IBKR), which has received positive analyst ratings and increased price targets following strong Q2 FY24 results.
RUFF holds IBKR, which has received positive news. This could lead to a short-term increase in RUFF's value as IBKR's stock price rises.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50