The stock of Cboe Global Markets, Inc. (NYSE:CBOE) is now priced at $90.6 and the shares are -2.09 points down or -2.25% lower compared to its previous closing price of $92.69. The stock had 962313 contracts set over the past session. CBOE shares’ daily volume is compared to its average trading volume at 0.8 million shares. However, it has a float of 108 million and although its performance was 0.47% over the week, it’s one to watch. Analysts have given the CBOE stock a yearly average price target of $98.5 per share. It means the stock’s upside potential is 8.72% with the CBOE share price recently placing at $90.12 to $92.96. However, some brokerage firms have priced the stock below the average, including one that has called $85.
The shorts are running away from the Cboe Global Markets, Inc. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the CBOE shares have declined. Short interest in the stock represents just 1.5% of its float, but the volume has dropped by 0.
In the last trading session, Cboe Global Markets, Inc. (NYSE:CBOE) raised by $0.42 over the week and gained $3.17 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $127.93. The stock recorded its established 52-week high on 02/06/20.
Since 03/19/20, the stock has traded to a low of $72.01 at 25.82%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge.
Looking at current readings, Cboe Global Markets, Inc.’s two-week RSI is 53.2. This suggests that the stock is neutral at the moment and that CBOE shares’ price movement remains stable. The stochastic readings are equally revealing at 83.36% meaning the CBOE share price is currently in oversold territory.
The technical chart shows that the CBOE stock will likely settle at between $92.33 and $94.07 per share. However, if the stock dips below $89.49, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $88.38.
Currently, the stock is trading in the green of MACD, with a reading of 1.86. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Piper Sandler cut their recommendation for CBOE from Overweight to Neutral in July 07 review while maintai their target price of $135 to $97. Goldman analysts downgraded their recommendation of the stock from Neutral to Sell while keeping its target price at $100 to $88 in a flash note released to investors on June 23. JP Morgan seeing the stock struggling downgraded it from Overweight to Neutral on June 02 placing it at $104 to $101.
The average rating for the CBOE equity is 2.59 and is currently gathering a bullish momentum. Of 17 analysts tracking Cboe Global Markets, Inc. polled by Reuters, 11 rated CBOE as a hold. The remaining 6 analysts were split evenly. However, the split wasn’t equal as a majority (5) rated it as a buy or strong buy. 1 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the CBOE stock price is 18.12X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 21.7 below the group’s average of 31. Cboe Global Markets, Inc. has its P/E ratio at 3, which means that the stock is currently trading at a discount relative to the 6.4 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Cboe Global Markets, Inc. (NYSE:CBOE) will decrease by about -99.97%, which will see them reach $292 million. The company’s full-year revenues are, however, expected to increase by about 8.77%, up from $1140 million to $1240 million. CBOE’s expected adjusted earnings should drop almost -15.5% to end up at $1.09 per share, while for the fiscal year, analysts project the company’s earnings to grow by about 9.51% to record $5.18/share.