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CBOE Stock Rises 26.1% YTD: A Signal for Investors to Hold Tight?
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Key Takeaways
Data Vantage is expected to deliver mid to high single-digit organic net revenue growth in 2025
CBOE benefits from a diversified business mix that ensures steady revenue generation.
CBOE continues to build global breadth through strategic acquisitions while generating cost synergies.
Cboe Global Markets, Inc. (CBOE - Free Report) shares have gained 26.1% in the year-to-date period, outperforming the industry's growth of 15.9%, the Finance sector’s return of 12.5% and the Zacks S&P 500 composite’s rise of 9.8%.
Cboe Global has outperformed its peers, including Intercontinental Exchange Inc. (ICE - Free Report) , CME Group Inc.(CME - Free Report) and Nasdaq, Inc.(NDAQ - Free Report) . Shares of ICE, CME and NDAQ have gained 21.3%, 16.1% and 22.6%, respectively, year to date.
Image Source: Zacks Investment Research
With a market capitalization of $25.77 billion, the average volume of shares traded in the last three months was 0.8 million. CBOE has a solid track record of beating earnings estimates in three of the last four quarters, while missing in one, delivering an average surprise of 1.89%.
CBOE Trading Above 50-Day and 200-Day Moving Averages
Shares of Cboe Global closed at $246.43 on Thursday and are trading above the 50-day and 200-day simple moving averages (SMA) of $238.63 and $217.89, respectively, indicating solid upward momentum. SMA is a widely used technical analysis tool to predict future price trends by analyzing historical price data.
Image Source: Zacks Investment Research
CBOE’s Growth Projection Encourages
The Zacks Consensus Estimate for Cboe Global’s 2025 earnings per share indicates a year-over-year increase of 11.5%. The consensus estimate for revenues is pegged at $2.27 billion, implying a year-over-year improvement of 9.6%.
The consensus estimate for 2026 earnings per share and revenues indicates an increase of 5.9% and 4.3%, respectively, from the corresponding 2024 estimates.
Earnings have grown 11.4% in the past five years, better than the industry average of 9.6%. The expected long-term earnings growth rate is 13.8%, outperforming the industry average of 10.4%.
Optimist Analyst Sentiment on CBOE
Eight of the 13 analysts covering the stock have raised estimates for 2025, while six analysts have raised the same for 2026 over the past 60 days. Thus, the Zacks Consensus Estimate for 2025 and 2026 earnings has moved up 0.9% and 1.3%, respectively, in the past 60 days.
Image Source: Zacks Investment Research
Factors Impacting CBOE
Cboe Global’s organic strength lies in a diversified business mix that ensures uninterrupted revenue generation and recurring non-transaction revenues.
CBOE remains on track to grow its recurring non-transaction revenues. Increases in access and capacity fees and proprietary market data fees are likely to boost Data Vantage’s net revenues. Data Vantage is well-positioned to perform well in 2025. CBOE estimates Data Vantage organic net revenue growth to be in the mid to high single-digit range in 2025.
The company achieved a greater global breadth of services and products, as well as new distribution channels, apart from generating revenues and cost synergies through strategic buyouts.
Banking on operational expertise, the company has been strengthening its balance sheet by improving its cash position and lowering its debt balance. Its leverage ratio, as well as the times interest earned, compares favorably with the industry average.
CBOE’s strategic investments are well supported by solid capital management. However, higher expenses remain a major concern. Cboe Global has been facing intense competition due to increased market consolidation that tends to reduce market share, and this includes both product and price competition.
The company’s investment in European, Canadian and Asia Pacific operations remains exposed to volatility in currency exchange rates through translation of net assets or equity to U.S. dollars. The company is also exposed to credit risk from third parties, including customers, counterparties and clearing agents.
End Notes
Cboe Global’s growth strategy of expanding its product line across asset classes, broadening geographic reach, diversifying the business mix with recurring revenues and leveraging technology reflects its operational expertise.
Its wealth distribution remains impressive. CBOE increased dividends for 13 straight years, and as of June 30, 2025, the company had $614.5 million of availability remaining under its existing share repurchase authorizations.
Image: Bigstock
CBOE Stock Rises 26.1% YTD: A Signal for Investors to Hold Tight?
Key Takeaways
Cboe Global Markets, Inc. (CBOE - Free Report) shares have gained 26.1% in the year-to-date period, outperforming the industry's growth of 15.9%, the Finance sector’s return of 12.5% and the Zacks S&P 500 composite’s rise of 9.8%.
Cboe Global has outperformed its peers, including Intercontinental Exchange Inc. (ICE - Free Report) , CME Group Inc.(CME - Free Report) and Nasdaq, Inc.(NDAQ - Free Report) . Shares of ICE, CME and NDAQ have gained 21.3%, 16.1% and 22.6%, respectively, year to date.
Image Source: Zacks Investment Research
With a market capitalization of $25.77 billion, the average volume of shares traded in the last three months was 0.8 million. CBOE has a solid track record of beating earnings estimates in three of the last four quarters, while missing in one, delivering an average surprise of 1.89%.
CBOE Trading Above 50-Day and 200-Day Moving Averages
Shares of Cboe Global closed at $246.43 on Thursday and are trading above the 50-day and 200-day simple moving averages (SMA) of $238.63 and $217.89, respectively, indicating solid upward momentum. SMA is a widely used technical analysis tool to predict future price trends by analyzing historical price data.
Image Source: Zacks Investment Research
CBOE’s Growth Projection Encourages
The Zacks Consensus Estimate for Cboe Global’s 2025 earnings per share indicates a year-over-year increase of 11.5%. The consensus estimate for revenues is pegged at $2.27 billion, implying a year-over-year improvement of 9.6%.
The consensus estimate for 2026 earnings per share and revenues indicates an increase of 5.9% and 4.3%, respectively, from the corresponding 2024 estimates.
Earnings have grown 11.4% in the past five years, better than the industry average of 9.6%. The expected long-term earnings growth rate is 13.8%, outperforming the industry average of 10.4%.
Optimist Analyst Sentiment on CBOE
Eight of the 13 analysts covering the stock have raised estimates for 2025, while six analysts have raised the same for 2026 over the past 60 days. Thus, the Zacks Consensus Estimate for 2025 and 2026 earnings has moved up 0.9% and 1.3%, respectively, in the past 60 days.
Image Source: Zacks Investment Research
Factors Impacting CBOE
Cboe Global’s organic strength lies in a diversified business mix that ensures uninterrupted revenue generation and recurring non-transaction revenues.
CBOE remains on track to grow its recurring non-transaction revenues. Increases in access and capacity fees and proprietary market data fees are likely to boost Data Vantage’s net revenues. Data Vantage is well-positioned to perform well in 2025. CBOE estimates Data Vantage organic net revenue growth to be in the mid to high single-digit range in 2025.
The company achieved a greater global breadth of services and products, as well as new distribution channels, apart from generating revenues and cost synergies through strategic buyouts.
Banking on operational expertise, the company has been strengthening its balance sheet by improving its cash position and lowering its debt balance. Its leverage ratio, as well as the times interest earned, compares favorably with the industry average.
CBOE’s strategic investments are well supported by solid capital management. However, higher expenses remain a major concern.
Cboe Global has been facing intense competition due to increased market consolidation that tends to reduce market share, and this includes both product and price competition.
The company’s investment in European, Canadian and Asia Pacific operations remains exposed to volatility in currency exchange rates through translation of net assets or equity to U.S. dollars. The company is also exposed to credit risk from third parties, including customers, counterparties and clearing agents.
End Notes
Cboe Global’s growth strategy of expanding its product line across asset classes, broadening geographic reach, diversifying the business mix with recurring revenues and leveraging technology reflects its operational expertise.
Its wealth distribution remains impressive. CBOE increased dividends for 13 straight years, and as of June 30, 2025, the company had $614.5 million of availability remaining under its existing share repurchase authorizations.
Thus, it is better to adopt a wait-and-see approach for this Zacks Rank #3 (Hold) stock. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.