Cboe Global Markets Raises Revenue Outlook Despite Target Cut

Cboe Global Markets (ISIN US12503M1080) ended trading at USD 271.26 on the NYSE on October 2, 2026, marking a 2.14 percent decline from the prior close of USD 277.19. The company's second-quarter 2026 results revealed a net revenue of USD 731.6 million, up 25 percent from USD 587.3 million in the same period the previous year. Diluted earnings per share (EPS) surged 50 percent to USD 3.35, while adjusted diluted EPS increased 45 percent to USD 3.56. The options business was the standout performer, with net revenue rising 30 percent to USD 473.9 million and total options average daily volume increasing 26 percent.

Despite the strong financial performance, Goldman Sachs upgraded its rating on Cboe Global Markets to Neutral from Sell but lowered its price target from USD 304 to USD 300. The report noted a significant de-rating in the stock and highlighted that the 2027 EV to EBITDA multiple stood at a 9 percent discount to its three-year average. The consensus target price, based on ratings from MarketBeat, was USD 306.73, with a high of USD 354.00 and a low of USD 258.00, indicating a 13.1 percent premium over the October 2 closing price.

Cboe Global Markets also raised its 2026 organic total net revenue growth target to mid to high teens from low double-digit to mid teens, while reaffirming adjusted operating expenses between USD 838 million and USD 853 million. The next quarterly report is scheduled for October 30, 2026. As of October 2, 2026, the stock had a market capitalization of USD 28.4 billion and a 52-week range of USD 227.15 to USD 371.18, placing it below its yearly high despite continued double-digit growth in its latest quarterly figures.