Cboe Global Markets Inc (CBOE)

Cboe Global Markets' stock price increased by 35.64% from July 15, 2024, to July 15, 2025, with a share price of $236.69 as of July 21, 2025. Morgan Stanley downgraded CBOE from Overweight to Underweight on May 14, 2025, and B of A Securities downgraded it from Buy to Neutral on April 10, 2025. Jefferies raised its price target on Cboe Holdings to $233.00 from $217.00 on July 14, 2025, while UBS maintained its Neutral rating with a $245.00 price target on July 8, 2025. Barclays decreased its price objective from $245.00 to $243.00 with an "equal weight" rating on July 10, 2025. Piper Sandler upped its price objective from $245.00 to $250.00 and gave the stock an "overweight" rating. Loop Capital set a $227.00 target price, and Oppenheimer increased its target price from $249.00 to $253.00 with an "outperform" rating. Cboe reported strong financial results for 2024, with record net revenue and earnings, and anticipates mid-single-digit organic total net revenue growth in 2025.

Demand for Cboe Global Markets' products and services is influenced by market activity and volatility. Higher trading volumes generally lead to increased transaction fees, market data fees, and access and capacity fees. Products like VIX options and futures see increased demand during periods of market uncertainty. Cboe has observed consistent demand for its options and futures products, such as the expansion of SPX Weeklys. Demand for data and access solutions is a consistent revenue stream. Strategic acquisitions have contributed to revenue growth and expanded the company's offerings. Cboe's results in 2024 showed broad-based growth across its business lines, indicating consistent demand throughout the year, with overall market conditions and investor activity driving the demand for Cboe's trading and data services.

Cboe Global Markets, Inc. (CBOE) is an exchange holding company that offers trading and investment solutions across various asset classes and geographies, operating in the Financial Services sector. The company operates through six segments: Options, North American Equities, Europe and Asia Pacific, Futures, Global FX, and Digital. Cboe is the largest U.S. options exchange, offering equity, index, and ETP options, including proprietary products like S&P 500 options (SPX) and options on the Cboe Volatility Index (VIX Index). Cboe offers futures and related products, including VIX futures and corporate bond index futures, and launched margined futures on Bitcoin and Ether in January 2024. Cboe operates four U.S. equities exchanges and provides ETP transaction and listing services, along with institutional foreign exchange trading and digital asset services through Cboe Digital. Cboe offers market data, access services, and analytics tools, including benchmark products like the CBOE S&P BuyWrite Index (BXM).

Cboe Global Markets operates across North America, Europe, and Asia-Pacific, owning stock exchanges in the U.S., Canada, the Netherlands, and Australia. Key operational hubs are located in Chicago, New York, London, Kansas City, and Amsterdam. The acquisition of Chi-X Asia Pacific has strengthened Cboe's presence in Asia-Pacific, providing access to markets in Japan and Australia.

Cboe Global Markets maintains a strong brand reputation as a leading global exchange network, emphasizing a trusted, inclusive marketplace and providing products, technology, and data solutions for a sustainable financial future. The company's record net revenue and earnings in 2024 reflect its operational strength and market position. Cboe's commitment to expanding its global presence, enhancing market accessibility, and operating reliable exchanges contributes to its positive image. Cboe achieved record net revenue and earnings in 2024, with growth across its business lines. Cboe has continued to expand its global operations, including further establishing itself in Asia Pacific in 2024. Cboe continues to introduce new products, such as the launch of margined futures on Bitcoin and Ether in January 2024, and plans to introduce a retail-focused trading service in Europe in July 2025. As an exchange operator, Cboe is subject to regulatory oversight, and failure to comply with regulations could negatively impact its reputation.

Approximately 54.54% of Cboe Global Markets, Inc.'s stock is owned by institutional investors, 0.22% by insiders, and 45.24% by public companies and individual investors. Major institutional owners include Vanguard Group Inc., BlackRock, Inc., Alliancebernstein L.p., State Street Corp., T. Rowe Price Investment Management, Inc., T. Rowe Price Mid-Cap Growth Fund, Inc., Geode Capital Management, Llc., Morgan Stanley, and Invesco Ltd.