CBOE – Cboe Global Markets, Inc.

Cboe Global Markets Inc. (CBOE) Stock Analysis – November 2025

Company Overview

Cboe Global Markets, Inc. is a leading options exchange based in Chicago, Illinois, with a prominent role in the financial services sector. Since its inception in 1973, Cboe has expanded its offerings to include trading in market indices, equities, derivatives, futures, institutional foreign exchange, and digital asset markets. The company operates through six distinct segments: Options, North American Equities, Europe and Asia Pacific, Futures, Global FX, and Digital. This diversification positions Cboe as a pivotal player in the trading landscape, catering to a wide range of investor needs while maintaining strategic partnerships with major financial indices.

In an industry currently encountering a stable outlook, analysts recommend a “hold” position for investors, emphasizing cautious yet consistent engagement with the market.

52-Week Price Performance Analysis

The stock performance of Cboe Global Markets, Inc. has exhibited a clear bullish trend over the past year, characterized by a price movement of approximately 18.14%, with current pricing at $255.375. The 52-week high of $262.98 denotes robust investor confidence, against a low benchmark of $187.30, indicating significant recovery from earlier market adverse movements.

Key Technical Insights

• Support and Resistance Levels:

  • Critical support is established around the $220 mark, where the stock rebounded before its recent bullish trajectory.
  • Current resistance is noted at approximately $254.5, which the stock is currently testing, presenting a crucial level for potential breakout signals.

• Momentum Indicators:

  • The stock’s 50-day moving average is $244.1558, illustrating that Cboe has consistently performed above this threshold, reinforcing its momentum.
  • The upward-sloping trendline signifies a strong bullish sentiment as the stock demonstrates higher highs and higher lows.

• Market Trends:

  • Following a consolidation phase in October, the stock experienced a breakout, a positive indication suggesting an extension of the current bullish trend. Investors should monitor a sustained move above the resistant $254.5 mark for potential further price appreciation.

Overall, Cboe has maintained positive momentum while respecting established moving averages as dynamic support, demonstrating strong consumer confidence and buying interest.

Financial Performance and Metrics

In the third quarter of 2025, Cboe Global Markets reported record net revenues of $605.5 million, marking a year-over-year increase of 14%, indicating healthy growth patterns fueled by higher volumes across derivatives platforms and robust market conditions.

Key Financial Metrics:

• Revenue: $4.62 billion annually.
• EBITDA: Approximately $1.5 billion, signifying strong operating margin capability.
• EPS Performance:
  • Diluted EPS reached $2.85, up 38% from the previous year.
  • Adjusted diluted EPS increased by 20% to $2.67, further exemplifying profit growth.

Additionally, Cboe has raised its 2025 organic total net revenue growth target to low double-digit to mid-teens percentage growth, showcasing confidence in its business model and strategic initiatives. However, the planned divestment of its Australian and Canadian equities businesses is projected to reduce net revenue by roughly 3% annually, prompting a cost reduction of 8-10% in certain operational segments.

Recent News and Developments

Cboe Global Markets has attracted attention this month with several strategic announcements:
– The company declared a fourth-quarter cash dividend of $0.72 per share, payable on December 15, 2025, highlighting a commitment to returning value to shareholders.
– Notable strategic decisions include discontinuing U.S. and European corporate listing efforts and redirecting resources to high-growth segments, including its Data Vantage services, which have shown substantial growth.

These developments are designed to streamline operations and enhance profitability despite expected revenue adjustments, aligning with the company’s goal to bolster its market position.

Market Sentiment and Analyst Recommendations

Analyst sentiment towards Cboe reflects a cautious yet optimistic outlook. Recent assessments suggest maintaining a “hold” position:
– Target Price: Analysts have set a high target price of $291.00, alongside a target mean price of approximately $255.79, which suggests favorable future pricing amidst expected market conditions.
– Analyst Consensus: A score of 3.12 indicates collective caution, with 14 analysts participating in the consensus, reflecting a tempered approach by the investment community.

On November 3, 2025, Keefe, Bruyette & Woods reaffirmed their “Market Perform” rating with a price target footprint suggestive of modest upside potential from current levels. As of November 16, revisions placed the average one-year price target at $229.10, marking a 10.33% increase from previous estimates, emphasizing continued positive expectations for Cboe.

Conclusion: Opportunities and Risks

Cboe Global Markets, Inc. offers a solid investment opportunity underscored by strong revenue performance, strategic realignments, and a commitment to shareholder returns. The ongoing bullish trend in stock performance, coupled with healthy analyst sentiment, paints a promising picture for potential upside.

Nonetheless, investors should be cognizant of risks accompanying strategic divestments that may influence revenue sensation in the foreseeable future. Monitoring earnings growth against market conditions will be pivotal for investors navigating Cboe’s evolving landscape.

For those considering an investment in Cboe, the current positioning suggests a potentially advantageous entry point while reaffirming the necessity of a cautious approach in light of broader market dynamics.

Metric	Value
Market Cap	$26.7b
Total Debt	$1.6b
Total Cash	$1.5b
Shares Outstanding	104.6m
Float Shares	104.1m