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Shares of Interactive Brokers (NASDAQ:) are down 1.5% in pre-market buying and selling after the retail investing firm reported .
IBKR reported an adjusted EPS of 82c, in keeping with the consensus estimates. Adjusted web income got here in at $692 million, lacking the consensus projection of $701.6 million.
Whole buyer accounts stood at 1.81 million, simply above the anticipated 1.8 million. Buyer margin loans have been reported at $48.2 billion, beneath the analyst estimates of $49.62 billion.
The group reported $355.9 billion of buyer fairness, matching the analyst estimates. Buyer credit score balances totaled $92.5 billion, whereas analysts have been in search of $87.25 billion.
BofA analyst Craig Siegenthaler reiterated a Purchase ranking and hiked the worth goal to $117.00 per share from $111.00 after outcomes confirmed that sturdy natural progress momentum has continued.
“We reiterate our Purchase ranking as we forecast upside to consensus EPS estimates (about 20% in 2024), its PE a number of (solely 15x) and we forecast about 20% income progress in 2023-24. IBKR additionally has visibility into a number of massive introducing dealer wins that it expects to announce later in 2022,” Siegenthaler mentioned in a shopper observe.
The analyst sees IBKR as “one of many strongest natural progress names in monetary providers given its extensive product providing that it affords globally.”
Alternatively, Goldman Sachs analyst Will Nance is extra pessimistic as he reiterated a Impartial ranking and lowered the worth goal to $90.00 per share from $105.00.
“Administration stays optimistic round account progress within the 30% vary, which together with the outlook for earnings upside from charges, suggests an bettering danger/reward. That mentioned we stay Impartial rated as we imagine we have to see retail engagement ranges inflect/stage out for shares to inflect greater,” Nance mentioned in a memo to shoppers.
By Senad Karaahmetovic
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