Cboe Global Markets Stock Outlook: Is Wall Street Bullish or Bearish?

Cboe Global Markets, headquartered in Chicago, is a major global exchange operator specializing in options, futures, equities, and foreign exchange markets. Despite having a market capitalization of $29.3 billion, the company's stock has lagged behind the broader S&P 500 Index over the past year, with CBOE gaining 16.7% while the S&P 500 rose nearly 19.5%.

In its Q2 FY2026 earnings report, CBOE surpassed expectations, with shares rising 4.6% and net revenue growing 24.6% to $731.6 million. Adjusted diluted EPS increased 44.7% to $3.56. The company has raised its revenue growth targets for the remainder of 2026 and the organic growth of its Data Vantage subsidiary.

For the fiscal year ending in December 2026, analysts anticipate CBOE's diluted EPS to grow 29.2% year-over-year to $13.78. However, the overall consensus rating among the 18 analysts covering the stock is a 'Hold', with three 'Strong Buys', twelve 'Holds', and three 'Strong Sells'. This more bearish stance compared to two months ago, when the stock had four 'Strong Buy' ratings.

One analyst, BofA's Eli Abboud, recently lowered CBOE's price target to $356 from $359, citing higher compensation costs, weaker index options volume, and the earlier-than-expected sale of Cboe Australia. Despite this, the mean price target of $313.20 still implies a 6.5% premium to CBOE's current share price, with the Street-high price target suggesting a 21% upside.