TD Cowen Raises Cboe Global Markets (CBOE) Price Target to $342

TD Cowen has reiterated its Buy rating on Cboe Global Markets, setting a price target of $342, a 8.87% upside from the current price.

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

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TD Cowen raised its price target on Cboe Global Markets, Inc. ($CBOE) to $342 from $334 on October 12, 2026, and rates the stock "Buy".

Since the rating, $CBOE is up 5.9% to date (from the $297.38 close on Oct 12, 2026).

CBOE Cboe Global Markets, Inc.

$314.98 +27.88% year to date

Daily close · Oct 16, 2026

Key Points

On October 12, 2026, TD Cowen reiterated its Buy rating on Cboe Global Markets with a price target of $342, up from $334.
TD Cowen's $342 price target implies 8.87% upside from Cboe Global Markets, Inc.'s ($CBOE) current $314.12 share price.
The stock recently traded around $314.12, approximately 8.2% below the new target price.
Cboe Global Markets has reported a trailing twelve-month revenue of $5.06 billion with a net margin of 26.7%.

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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

TD Cowen has reiterated its Buy rating on Cboe Global Markets, Inc. (CBOE) on October 12, 2026, setting a new price target of $342, up from $334. The stock recently traded at $314.12, which is about 8.2% below the new target.

Cboe Global Markets, Inc. Stock Up 15.1%

Cboe Global Markets' shares are currently trading below the recent price target. The stock's recent performance indicates it is positioned for potential growth, especially given the favorable rating from TD Cowen. This rating comes as part of a broader trend among analysts, with several firms adjusting their targets recently.

12-month forecast

$CBOE price target

Cboe Global Markets, Inc. daily closes and this analyst's $342 target. Not advice.

Other Institutional Activity in Cboe Global Markets

Several institutional investors have also made adjustments to their positions in Cboe Global Markets. Blackrock Inc. reduced its stake by 313,241 shares, leaving it with 10,198,207 shares valued at approximately $3.21 billion. Vanguard Capital Management LLC added 37,387 shares, bringing its total to 6,835,070 shares worth about $2.15 billion. Vanguard Portfolio Management LLC increased its holdings by 16,771 shares, ending with 5,257,741 shares valued at around $1.66 billion. State Street Corporation added 69,677 shares, totaling 5,046,590 shares worth about $1.59 billion. FMR, LLC cut its position by 406,297 shares, resulting in 4,307,122 shares valued at approximately $1.36 billion.

Recent Earnings

Cboe Global Markets reported trailing twelve-month revenue of $5.06 billion and earnings per share (EPS) of $12.82. The company has a net margin of 26.7% and a return on equity (ROE) of 26.3%. It is set to announce its next earnings report on October 30, 2026.

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.

Recent insider transactions show that several executives have sold shares. 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 at an average price of $358.09 on May 18, 2026, for a total of $437,944. Additionally, Froetscher sold 937 shares at an average price of $278.95 on August 12, 2026, amounting to $261,376. These transactions occurred before the recent analyst calls and reflect ongoing trading activity among insiders.

Analysts Set New Price Targets

On October 2, 2026, Wells Fargo initiated coverage on Cboe Global Markets with an Equal-Weight rating and a price target of $301. TD Cowen upgraded its rating to Buy on October 5, increasing the target from $315 to $334. Barclays maintained an Overweight rating on October 7, adjusting its target from $354 to $343. Morgan Stanley upgraded its rating to Overweight on October 9, setting a target of $358, up from $258. On the same day as TD Cowen's reiteration, the consensus among analysts suggests a positive outlook for the stock.

About Cboe Global Markets

Cboe Global Markets operates as a major derivatives and securities exchange network, providing trading, clearing, and investment solutions both in the U.S. and internationally. It operates through five segments: Options, North American Equities, Europe and Asia Pacific, Futures, and Global FX. The company has its headquarters in Chicago, Illinois, and employs 1,661 people.

Bottom Line

Investors should keep an eye on Cboe Global Markets as it approaches its next earnings date on October 30, 2026. The recent analyst ratings show a generally positive sentiment, with TD Cowen's updated target reflecting confidence in the company's growth potential.