Cboe Global Markets (CBOE) Valuation After Barclays Upgrade on Derivatives Growth and Strategic Refocus

Simply Wall St.12-16 21:18

Barclays just bumped Cboe Global Markets (CBOE) up to Overweight after taking a closer look at its index options engine, the surge in retail options activity, and a tighter focus on core derivatives. ...

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However, recent pullbacks suggest momentum is cooling rather than...","collect":0,"end_time":0,"defaultTopTitle":"simplywall.st","property":["rate"],"viewcount":null,"language":"en","relate_stocks":{"CBOE":"芝加哥期权交易所"},"translate_title":"巴克莱上调衍生品增长和战略重新聚焦后，芝加哥期权交易所全球市场(CBOE)估值","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CBOE":1.5},"content_text":"Barclays just bumped Cboe Global Markets (CBOE) up to Overweight after taking a closer look at its index options engine, the surge in retail options activity, and a tighter focus on core derivatives. See our latest analysis for Cboe Global Markets. That bullish call from Barclays lands after a powerful run, with Cboe’s share price up strongly on a year to date basis and its five year total shareholder return nearing a triple. However, recent pullbacks suggest momentum is cooling rather than collapsing. If you like the structural growth angle in derivatives, it could be worth broadening the lens and exploring fast growing stocks with high insider ownership. With the shares already near record highs, trading at only a modest discount to analyst targets and a rich intrinsic valuation, the key debate now is simple: is Cboe still an attractive opportunity, or is future growth already fully reflected in the current price? Most Popular Narrative Narrative: 5.8% Undervalued With Cboe Global Markets last closing at $246.75 versus a narrative fair value near $262, the storyline leans toward modest upside still on the table.  Cboe's Data Vantage (market data, analytics, and index licensing) is demonstrating consistent double digit revenue growth, supported by high margin, recurring subscription sales, which enhances the predictability and profitability of earnings. Focused resource allocation (such as divesting underperforming segments like Japanese equities) and ongoing investment in scalable technology infrastructure are driving operating leverage, improving efficiency, and supporting sustainable margin expansion.  Read the complete narrative. Curious how slowing top line expectations can coexist with ambitious profit targets and a premium earnings multiple usually reserved for faster growth stories? The narrative breaks down a detailed roadmap that leans on margin expansion, disciplined capital allocation, and a future valuation bar that sits above the broader capital markets pack. If you want to see exactly which revenue mix shifts and profitability assumptions are doing the heavy lifting in that fair value, you will need to dive into the full narrative. Result: Fair Value of $262.08 (UNDERVALUED) Have a read of the narrative in full and understand what's behind the forecasts. However, the thesis could be tested if S&P index licensing terms shift unfavorably or if DeFi style platforms start diverting volumes away from traditional exchanges. Find out about the key risks to this Cboe Global Markets narrative. Another Angle on Valuation Our DCF model tells a different story to the narrative fair value, pointing to Cboe trading above an estimated fair value of about $201 per share. On this measure, the stock screens as overvalued. If growth or margins underwhelm, could today’s price prove too optimistic? Look into how the SWS DCF model arrives at its fair value. CBOE Discounted Cash Flow as at Dec 2025Simply Wall St performs a discounted cash flow (DCF) on every stock in the world every day (check out Cboe Global Markets for example). We show the entire calculation in full. You can track the result in your watchlist or portfolio and be alerted when this changes, or use our stock screener to discover 906 undervalued stocks based on their cash flows. If you save a screener we even alert you when new companies match - so you never miss a potential opportunity.  Build Your Own Cboe Global Markets Narrative If you see the story playing out differently or want to dig into the numbers yourself, you can spin up a custom narrative in just minutes: Do it your way. A good starting point is our analysis highlighting 2 key rewards investors are optimistic about regarding Cboe Global Markets. Ready for more investment ideas? Before you move on, consider widening your opportunity set with focused stock ideas curated from powerful screening tools on Simply Wall St.  Look for potential multi-baggers early by targeting these 3625 penny stocks with strong financials that combine lower share prices with solid financial strength. Explore the next wave of intelligent automation by focusing on these 26 AI penny stocks that blend innovation with credible fundamentals. Build your income stream by reviewing these 13 dividend stocks with yields > 3% that aim to balance attractive yields with sustainable payout profiles.   This article by Simply Wall St is general in nature. We provide commentary based on historical data\n    and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your\n    financial situation. We aim to bring you long-term focused analysis driven by fundamental data.\n    Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.\n    Simply Wall St has no position in any stocks mentioned.The New Payments ETF Is Live on NASDAQ:Money is moving to real-time rails, and a newly listed ETF now gives investors direct exposure. Fast settlement. Institutional custody. Simple access.Explore how this launch could reshape portfoliosSponsored ContentNew: AI Stock Screener & AlertsOur new AI Stock Screener scans the market every day to uncover opportunities.• Dividend Powerhouses (3%+ Yield)• Undervalued Small Caps with Insider Buying• High growth Tech and AI CompaniesOr build your own from over 50 metrics.Explore Now for FreeHave feedback on this article? Concerned about the content? Get in touch with us directly. 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