On July 6, Interactive Brokers rose 3.2% in regular trading, trading at $94.425/share, with turnover of $56.85 million. The stock continues to build on momentum following the release of strong June operating metrics and an analyst upgrade earlier this week.
Interactive Brokers reported that its June daily average revenue trades surged 53% year-over-year to 5.3 million, accelerating from 47% growth in May. Ending client equity climbed 40% to $930.3 billion, client accounts rose 34% to 5.2 million, and client margin loan balances jumped 67% to $108.5 billion, reflecting robust leveraged trading demand among active participants.
Goldman Sachs raised its price target on IBKR to $114 from $109 while maintaining a Buy rating. The consensus mean price target stands at $92.40 with an average overweight rating. The company is scheduled to report Q2 earnings on July 21, with an expected EPS of $0.58, and the strong June metrics have set an optimistic tone ahead of that release.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
Comments