KBW downgrades Intercontinental Exchange (ICE) to a Buy

KBW analyst Kyle Voigt downgraded Intercontinental Exchange (ICE – Research Report) to a Buy today and set a price target of $152.00. The company’s shares closed yesterday at $137.39.

Voigt covers the Financial sector, focusing on stocks such as Charles Schwab, Nasdaq, and Interactive Brokers. According to TipRanks, Voigt has an average return of 5.6% and a 72.04% success rate on recommended stocks.

Currently, the analyst consensus on Intercontinental Exchange is a Strong Buy with an average price target of $152.09, implying a 10.70% upside from current levels. In a report released on April 2, Bank of America Securities also maintained a Buy rating on the stock with a $156.00 price target.

Based on Intercontinental Exchange’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $3.69 billion and a net profit of $373 million. In comparison, last year the company earned a revenue of $3.54 billion and had a net profit of $425 million

Based on the recent corporate insider activity of 126 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ICE in relation to earlier this year. Most recently, in January 2024, Benjamin Jackson, the President of ICE bought 2,560.00 shares for a total of $106,470.40.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Intercontinental Exchange (ICE) Company Description:

Founded in 2000, Georgia-based Intercontinental Exchange, Inc. engages in the management of online marketplaces. It operates regulated exchanges, clearing houses, and listings venues for commodity, financial, fixed income, and equity markets in the United States, the United Kingdom, European Union, Singapore, Israel, and Canada. It operates in two segments, Trading and Clearing; and Data and Listings.