Morgan Stanley Raises CBOE Price Target to $358

Morgan Stanley has raised its rating on Cboe Global Markets, reflecting confidence in the firm's future performance, a 13.97% upside from the current price.

By EarningsIQ Research Desk · Published Oct 16, 2026, 2:16 PM EDT

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Morgan Stanley raised its price target on Cboe Global Markets, Inc. ($CBOE) to $358 from $258 on October 9, 2026, and rates the stock "Overweight".

Since the rating, $CBOE is up 3.6% after 1 week and up 3.6% to date (from the $304.16 close on Oct 9, 2026).

CBOE Cboe Global Markets, Inc.

$314.98 +27.88% year to date

Daily close · Oct 16, 2026

Key Points

On October 9, 2026, Morgan Stanley upgraded Cboe Global Markets, Inc. (CBOE) to an Overweight rating with a new price target of $358, up from $258.
Morgan Stanley's $358 price target implies 13.97% upside from Cboe Global Markets, Inc.'s ($CBOE) current $314.12 share price.
Cboe's recent trading price is around $314.12, which is approximately 12.3% below the new analyst target.
The company's revenue has grown by 22.9% year-over-year, and it has a dividend yield of 3.44%.

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Not investment advice. EarningsIQ is not a registered investment adviser, and this automated Cboe Global Markets, Inc. alert may contain errors. Disclosures

Morgan Stanley has upgraded Cboe Global Markets, Inc. (CBOE) to an Overweight rating on October 9, 2026. The firm raised its price target significantly from $258 to $358, reflecting a strong outlook for the company. However, Cboe's shares are currently trading around $314.12, which is about 12.3% below this new target.

Other Institutional Activity in Cboe Global Markets

Several other institutional investors have also made notable moves regarding Cboe. Blackrock Inc. trimmed its stake by 313,241 shares, leaving it with 10,198,207 shares valued at approximately $3.21 billion. Vanguard Capital Management LLC slightly increased its holdings by 37,387 shares, now owning 6,835,070 shares worth about $2.15 billion. Meanwhile, State Street Corporation added 69,677 shares, bringing its total to 5,046,590 shares valued at roughly $1.59 billion.

Cboe Global Markets, Inc. Stock Up 15.1%

Cboe's shares are currently trading at $314.12, which is below the newly set target of $358. This recent price is a critical indicator of market confidence, especially after the upgrade from Morgan Stanley. The stock has shown resilience, with a revenue growth of 22.9% year-over-year, indicating strong business fundamentals.

12-month forecast

$CBOE price target

Cboe Global Markets, Inc. daily closes and this analyst's $358 target. Not advice.

Recent Earnings

Cboe reported trailing twelve-month revenue of approximately $5.06 billion and an earnings per share (EPS) of $12.82. The next earnings report is scheduled for October 30, 2026, which could provide further insights into the company's performance.

Earnings drift grade

Outlook vs expectations on the last report — not price action.

A- 87/100

Reported May 1, 2026

Forward outlook
4 analysts raised price targets.
EPS & revenue
EPS beat estimates by 10.3%. Revenue beat estimates by 79.6%.
Profit surprise
EBITDA beat by 13 percent. Operating income beat by 9 percent.
Pre-earnings setup
Expectations were about average.
Analyst signal
4 target raises.
Earnings quality
Gross margin up 5.3 points. Operating margin up 10.1 points. Positive free cash flow.

Earnings Call Summary

Cboe had an exceptional first quarter with record net revenue of $729 million, up 29 percent year over year, and adjusted earnings per share of $3.70, up 48 percent. SPX options hit 4.9 million contracts in average daily volume with 34 percent growth, while all major segments including derivatives, cash markets, and foreign exchange delivered strong double digit growth. Management announced a major strategic realignment cutting the workforce by 20 percent and exiting lower-return businesses to focus resources on core derivatives, event contracts, and clearing expansion.

Guidance Cboe raised its forecast for DataVantage revenue to low double digit growth and expects total organic growth of low double digit to mid-teens range for the full year. The company also lowered operating expense guidance to $838 million to $853 million from $864 million to $879 million, reflecting $20 million to $25 million in savings from the strategic realignment in 2026.

Clearly positive report. Results were better than expected, though the forward reset is not the strongest.

Insider Buying and Selling at Cboe Global Markets, Inc.

Insider transactions have shown some activity recently. Officer Allen Wilkinson sold 248 shares at an average price of $292.79 on February 23, 2026, totaling about $72,612. Director Janet P Froetscher sold 1,223 shares for $437,944 on May 18, 2026, and another 937 shares for $261,376 on August 12, 2026. These sales were not done under a planned trading strategy.

Analysts Set New Price Targets

On October 2, 2026, Wells Fargo initiated coverage with an Equal-Weight rating and a price target of $301. Goldman Sachs upgraded its rating to Neutral with a target of $300, down from $304. TD Cowen upgraded its rating to Buy with a target of $334, raised from $315. Barclays maintained its Overweight rating but adjusted its target to $343 from $354. Morgan Stanley's latest upgrade to Overweight with a target of $358 is part of a broader trend of positive analyst sentiment.

About Cboe Global Markets

Cboe Global Markets operates as a network of derivatives and securities exchanges, providing trading and investment solutions both domestically and internationally. It serves a diverse range of clients through its different segments, including Options, North American Equities, and Global FX. The recent upgrade by Morgan Stanley reflects the firm’s strong performance and potential for future growth.

Bottom Line

Investors should keep an eye on Cboe Global Markets as it approaches its next earnings date on October 30, 2026. The recent rating upgrades from analysts, particularly Morgan Stanley's significant target increase, suggest a positive outlook for the company. As always, consider further developments in the market and upcoming financial reports.