IBKR

A month has gone by since the last earnings report for Robinhood Markets, Inc. (HOOD). Shares have added about 26.7% in that time frame, outperforming the S&P 500. Will the recent positive trend continue leading up to its next earnings release, or is Robinhood Markets due for a pullback? Well, first let's take a quick look at the most recent earnings report in order to get a better handle on the recent catalysts for Robinhood Markets, Inc. before we dive into how investors and analysts have reacted as of late. Robinhood reported second-quarter 2026 earnings of 62 cents per share, beating the Zacks Consensus Estimate of 44 cents by 40.9%. The bottom line increased 48% year over year. The reported quarter included $129 million, or 14 cents per share, of gains primarily related to the deconsolidation of Robinhood Ventures Fund I. Excluding this, underlying earnings were 48 cents per share.Strong options, equities and event-contract activity amid heightened volatility led to an increase in transaction-based revenues. Higher net interest revenues (NIR), rising platform assets and a surge in Gold subscribers were tailwinds. However, continued weakness in crypto trading volume and higher operating expenses were the headwinds.Net income climbed 48% to $573 million. Total net revenues climbed 32% from a year ago to $1.31 billion. The top line surpassed the consensus mark of $1.26 billion.  NIR increased 9% year over year to $389 million. Growth in interest-earning assets helped offset the impact of lower short-term interest rates and weaker securities-lending activity.Other revenues climbed 54% to $143 million. The increase reflected Trump Account service revenues and higher Robinhood Gold subscription revenues. The quarter included $25 million of service revenues related to Trump Accounts.Average revenue per user rose 24% year over year to $187. Robinhood also expanded the number of business lines generating at least $100 million in annualized revenues to 13, with Robinhood Legend and the Credit Card business joining the group. Transaction-based revenues increased 44% year over year to $776 million. Options revenues rose 29% to $342 million, while equities revenues surged 95% to $129 million. Event-contract revenues jumped more than tenfold to $156 million.Cryptocurrency revenues remained a weak spot, declining 38% to $100 million. Crypto notional volume totaled $40.4 billion, including $18.3 billion from the Robinhood app and $22.1 billion from Bitstamp. Overall crypto volume fell 39% sequentially.Trading engagement remained strong elsewhere. Equity notional volume advanced 85% year over year to a record $956 billion, while options contracts traded grew 50% to a record 774 million. Event contracts traded reached a record 13.6 billion. Funded Customers increased 7% year over year to 28.4 million, including roughly 300,000 customers added through the WonderFi acquisition. Investment Accounts rose 9% to 29.9 million.Total Platform Assets advanced 32% to $369 billion, aided by continued net deposits and higher equity valuations. These benefits were partly offset by lower cryptocurrency valuations. Average platform assets per funded customer reached $13,000.Net deposits totaled a record $21.7 billion, representing a 28% annualized growth rate. Robinhood Retirement assets under custody surged 82% to a record $34.5 billion.Robinhood Gold subscribers increased 39% year over year and 11% sequentially to 4.84 million. Gold adoption reached 17% of funded customers, up from 13.1% a year earlier. The company noted that roughly 40% of new funded customers enrolled in Gold during the quarter. Annualized Gold subscription revenues reached $216 million. Other wealth products also gained traction. Robinhood Strategies grew to more than 300,000 funded customers and nearly $2 billion in assets under management. Robinhood Banking ended June with more than $3 billion in deposits from over 240,000 funded customers. Total operating expenses increased 33% year over year to $734 million. The increase reflected marketing and growth investments, restructuring charges and expenses related to Trump Accounts and Rothera. Adjusted operating expenses and share-based compensation rose 23% to $641 million. Robinhood’s profitability remained solid despite the higher expense base. Adjusted EBITDA increased 35% to $741 million, while the adjusted EBITDA margin improved to 57% from 56% a year earlier. Robinhood continued returning capital to shareholders. The company repurchased $414 million of Class A common stock during the quarter, representing 4.4 million shares at an average price of approximately $94 each. This included $290 million of repurchases tied to its June convertible-notes offering and conducted outside the existing authorization.Since launching its initial repurchase program in the third quarter of 2024, Robinhood has bought back $1.3 billion, or 27 million shares, at an average price of roughly $47. Robinhood lowered and tightened its 2026 adjusted operating expenses and share-based compensation outlook to $2.675-$2.775 billion from the prior range of $2.7-$2.825 billion. The revised forecast reflects efficiency gains that helped fund costs associated with Rothera and WonderFi. Since the earnings release, investors have witnessed a downward trend in fresh estimates. At this time, Robinhood Markets has a poor Growth Score of F, however its Momentum Score is doing a lot better with an A. However, the stock has a score of F on the value side, putting it in the lowest quintile for this investment strategy. Overall, the stock has an aggregate VGM Score of F. If you aren't focused on one strategy, this score is the one you should be interested in. Estimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Interestingly, Robinhood Markets has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months. Robinhood Markets is part of the Zacks Financial - Investment Bank industry. Over the past month, Interactive Brokers Group, Inc. (IBKR), a stock from the same industry, has gained 6.7%. The company reported its results for the quarter ended June 2026 more than a month ago. Interactive Brokers reported revenues of $1.88 billion in the last reported quarter, representing a year-over-year change of +27.2%. EPS of $0.69 for the same period compares with $0.51 a year ago. Interactive Brokers is expected to post earnings of $0.65 per share for the current quarter, representing a year-over-year change of +14%. Over the last 30 days, the Zacks Consensus Estimate remained unchanged. The overall direction and magnitude of estimate revisions translate into a Zacks Rank #1 (Strong Buy) for Interactive Brokers. Also, the stock has a VGM Score of F. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Robinhood Markets, Inc. (HOOD) : Free Stock Analysis Report Interactive Brokers Group, Inc. (IBKR) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

BULL delivered a record $199M quarter after the PDT rule elimination but trades at 43x forward earnings, leaving just 1% upside to our $9.03 target. HOOD's $75B market cap and IBKR's 77% pretax margin expose how far BULL's $4B valuation and thinner profitability still trail its peers. PFOF rebates drove $113M of Q2 revenue, meaning any regulatory crackdown could reshape Webull's entire business model overnight. Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Webull didn't make the cut. Grab the names FREE today. Webull just delivered its best quarter as a public company, and the debate now is whether the operating leverage on display justifies chasing the recent rally. My model says the market has already caught up. Our 24/7 Wall St. price target for Webull (NASDAQ: BULL) is $9.03 over the next 12 months, implying roughly 1% upside from $8.97. The recommendation is hold at a 90% confidence level. Webull is a fundamentally better business than it was a year ago, but the stock has already priced in most of the near-term good news. BULL is up 12.65% over the past week and 11.2% year to date, though shares are still down 42.13% over the past year and sit well below the $16.04 52-week high. Q2 revenue hit $198.83 million, up 51.21% year over year, with GAAP EPS of $0.04 versus a $0.025 estimate. CEO Anthony Denier called the June 4th elimination of the Pattern Day Trader Rule the "defining event for the quarter." DARTs hit a record 1.6 million, options volume reached 213 million contracts, and customer assets grew 79% to $28.5 billion. Adjusted operating margin reached 31.5%. New AI trading tools announced this week added fresh momentum to the shares. Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Webull didn't make the cut. Grab the names FREE today. The bull case rests on durability. Management said August activity is "even stronger than July," suggesting PDT repeal is a durable, permanent step-change in engagement. Vega AI now has 480,000 active users, international funded accounts reached 810,000, and the pending Pi Securities acquisition in Thailand adds regional scale. Northland Securities reaffirmed a Buy rating in July, and the current analyst consensus target sits at $12.33 with 3 Buy ratings and zero Sells. Our own bull-case scenario projects $17.64 within 12 months if operating leverage continues to compound. Order flow rebates delivered $112.96 million in Q2, meaning any PFOF regulation reshapes the model overnight. Contra revenue also jumped to $12.4 million from $5.1 million, and government inquiries into China connections remain unresolved. Bulls will argue the higher promotional spend is deliberate investment in international growth that is already showing returns. Our bear scenario lands at $7.54. Robinhood (NASDAQ: HOOD) is the closest direct competitor for active US retail traders. HOOD posted Q2 EPS of $0.62 on $1.31 billion of revenue and carries a $75.3 billion market cap. Webull's $4.02 billion valuation looks modest by contrast, but HOOD is meaningfully more profitable per dollar of revenue, which makes BULL's forward P/E of 43x look full. Interactive Brokers (NASDAQ: IBKR) is the profitability benchmark. IBKR runs a 77% pretax margin with 5.19 million customer accounts and $930.3 billion in customer equity. Webull's $28.5 billion in customer assets is a fraction of that. On this peer set, our $9.03 target looks reasonable. Our 24/7 Wall St. price target is $9.03 with a hold rating and 90% confidence. The scale-tipper is valuation: forward P/E above 40 already reflects a lot of PDT-driven optimism. A pullback toward the $7.20 50-day moving average, or a Q3 print confirming sustained DART strength, would strengthen the bull case. Escalating PFOF regulation or continued climb in contra revenue would weaken it. These projections assume Webull executes on international expansion and defends US market share. A five-year bull case reaches $42.90 if operating leverage compounds; a bear case bottoms near $7.57 if PFOF economics erode. Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Webull didn't make the cut. Grab the names FREE today. Contact [email protected] for any questions or corrections.

Webull (NASDAQ:BULL), a digital brokerage and retail investing platform, closed at $8.85, up 2.43%. Thursday's gain followed stronger-than-expected Q2 results and fresh product news, while investors are watching trading activity and third-quarter trends. Trading volume reached 50.0M shares, coming in about 301% above its three-month average of 12.5M shares. Webull IPO'd in 2025 and has fallen 33% since going public. The S&P 500 (SNPINDEX:^GSPC) fell 0.85% to 7,642, and the Nasdaq Composite (NASDAQINDEX:^IXIC) declined 1.00% to 26,067. Among online brokerage and digital investment platform rivals, Robinhood Markets (NASDAQ:HOOD) closed at $95.10, down 0.70%, while Interactive Brokers Group (NASDAQ:IBKR) finished at $89.85, down 0.76%. Wall Street's muted response to Webull's Q2 results probably sells how excellent the quarter was a bit short. Webull: grew sales by 51% increased trading-related revenue by 67% saw adjusted operating expenses rise only 26% nearly tripled its adjusted operating profit soared past analysts' expectations grew customer AUM by 79% saw registered users rise 13% It was a record-setting event across most metrics for Webull as it carves out a niche in the digital brokerage market, offering institutional-grade capabilities at a cheap price -- often free. Trading at 37x forward earnings, the company's blistering growth isn't outrageously priced, but BULL stock is likely to remain volatile during this hypergrowth phase, as profitability continues to rise. I'll keep Webull on my radar as I try to determine whether it has any moat against its main competitors. Before you buy stock in Webull, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Webull wasn’t one of them. The 10 stocks that made the cut are built for long-term growth and could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $432,621!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,335,314!* That performance is why people listen. With a track record of beating the S&P 500 by nearly 5x, Stock Advisor offers a distinct advantage. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built for the long haul. See the 10 stocks » *Stock Advisor returns as of August 20, 2026. Josh Kohn-Lindquist has positions in Robinhood Markets. The Motley Fool has positions in and recommends Interactive Brokers Group. The Motley Fool recommends the following options: long January 2027 $43.75 calls on Interactive Brokers Group and short January 2027 $46.25 calls on Interactive Brokers Group. The Motley Fool has a disclosure policy. Stock Market Today, Aug. 20: Webull Initially Surges 14%, Ends 2% Higher After Record Q2 Revenue and Earnings Beat was originally published by The Motley Fool

StoneX Group Inc. SNEX combines rapid earnings growth, expanding client activity and acquisition-driven scale. The complication is price. Shares trade above both their five-year median valuation and the Zacks sub-industry multiple, raising the bar for continued execution.That leaves investors weighing two credible forces. Earnings momentum and broader client engagement support the bull case, while revenue-capture pressure, higher costs and a richer multiple argue for discipline. The Zacks Consensus Estimate calls for fiscal 2026 earnings of $4.35 per share, up from $2.62 in fiscal 2025. Fiscal 2027 earnings are projected at $4.45 per share, indicating that the current earnings step-up is expected to hold rather than fully reverse. Earnings Estimates Image Source: Zacks Investment Research The fiscal 2026 consensus revenue estimate implies 41.9% year-over-year growth. StoneX's diversified platform, elevated trading volumes and acquisition activity support that outlook, while higher platform utilization and cross-selling could help sustain profitability as the business scales. Sales Estimates Image Source: Zacks Investment Research SNEX trades at 14.59X forward 12-month earnings. That compares with its five-year median of 10.75X and the industry's 13.28X, so investors are paying a premium to StoneX's own history and its peer group.The premium is manageable if earnings continue to expand, but it leaves less room for disappointment. Slower trading activity, weaker cross-selling or continued pressure on revenue capture could weigh on earnings momentum and compress the valuation multiple. P/E F12M Image Source: Zacks Investment Research Global Prime is one of the clearest growth avenues. The business serves more than 700 accounts with almost $16 billion in client balances and generated nearly $140 million in net operating revenues over the trailing 12 months. StoneX is also investing in automation and artificial intelligence to expand Payments without proportionate cost growth.Industry activity offers useful context. Interactive Brokers Group IBKR reported record client accounts and total client daily average revenue trades in the second quarter of 2026. CME Group Inc. CME reported record June average daily volume of 30.6 million contracts, up 19% year over year. Those trends underscore the broader opportunity for platforms that monetize sustained market participation. Payments remains a pressure point because revenue per million has been declining even as volume grows. Self-Directed/Retail also weakened, with operating revenues down 13% in the fiscal third quarter as lower foreign-exchange and contracts-for-difference activity hurt results.Costs are rising with expansion. Total fixed compensation and other expenses increased 22% year over year in the latest quarter, while non-trading technology and support costs climbed 43%. Net bad debt expense also increased in the first nine months of fiscal 2026, adding another risk if market volatility produces greater client stress. The decision is not simply buy or avoid. StoneX has enough earnings momentum and business expansion to support a constructive view, but the current valuation means investors are relying on continued execution. For those sensitive to entry price, waiting for a better valuation could still be reasonable. Over the past week, shares of StoneX have declined 14%. One Week Price Performance Image Source: Zacks Investment Research SNEX currently sports a Zacks Rank #1 (Strong Buy). Likewise, Interactive Brokers sports a Zacks Rank #1, while CME Group has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank stocks here.StoneX also has a VGM Score of A and Momentum Score of A, along with a Value Score of B and Growth Score of B. The combination of a top Zacks Rank with A or B Style Scores is generally favorable for near-term stock selection, but it does not remove the valuation, margin and credit risks investors should weigh. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report StoneX Group Inc. (SNEX) : Free Stock Analysis Report CME Group Inc. (CME) : Free Stock Analysis Report Interactive Brokers Group, Inc. (IBKR) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

StoneX Group Inc. SNEX paired a sizable fiscal third-quarter earnings beat with broader contributions from its expanded platform. Earnings, operating revenues and net income all rose sharply year over year as Commercial and Institutional activity strengthened.The next question is whether that momentum can extend beyond the quarter. Progress on R.J. O’Brien integration synergies supports the case, although retail weakness, revenue-capture pressure and a larger expense base remain important offsets. Fiscal third-quarter 2026 earnings rose 85.2% year over year to $1.00 per share, topping the Zacks Consensus Estimate of 76 cents by 31.6%. Operating revenues increased 43.3% to $1.47 billion and exceeded the consensus mark of $1.32 billion. Earnings Surprise History Image Source: Zacks Investment Research Net income more than doubled to $127.9 million from $63.4 million. Net operating revenues also advanced 47% to $719.7 million, reflecting gains across listed derivatives, over-the-counter derivatives, securities, physical contracts and interest and fees earned on client balances. Commercial operating revenues jumped 97% to $452.2 million. Segment income increased 119% to $181.4 million as listed derivatives, over-the-counter derivatives and physical contracts all recorded substantial year-over-year growth.Institutional operating revenues rose 40% to $875.3 million, while segment income increased 49% to $129.9 million. Securities average daily volume climbed 33% to $12.26 billion, and the R.J. O’Brien acquisition contributed 27 million listed derivatives contracts during the quarter.Trading activity across the broader market provides additional context. CME Group Inc. CME reported a record June average daily volume of 30.6 million contracts, up 19% year over year, while Interactive Brokers Group, Inc. IBKR said total client daily average revenue trades reached a record in its second quarter. R.J. O’Brien integration remains on track to be largely completed in fiscal 2026. Annualized synergies reached about $38 million by the end of the fiscal third quarter and are expected to move closer to $45-$46 million by fiscal year-end.Management remains confident in achieving the $50 million annualized synergy target, with the remaining benefits expected in fiscal 2027. The acquired business is already influencing the operating base through higher listed derivatives activity, client balances and related interest income. As such, the Zacks Consensus Estimate for sales suggests year-over-year growth of 41.9% for fiscal 2026 and 2.9% for fiscal 2027. Sales Estimates Image Source: Zacks Investment Research Self-Directed/Retail operating revenues declined 13% to $96.3 million and segment income fell 36% to $24.9 million. Foreign-exchange and contracts-for-difference operating revenues dropped 19% as average daily volume decreased 27%.Costs also moved higher as the platform expanded. Total fixed compensation and other expenses rose 22% to $314.2 million, fixed compensation and benefits increased 21% and non-trading technology and support costs climbed 43%. These trends raise the importance of continued revenue growth and acquisition benefits. The quarter strengthens the case that StoneX can benefit from broader client activity and integration gains, but the investment setup still depends on execution. Reaching the remaining R.J. O’Brien synergy target while offsetting retail softness and higher costs will be important to sustaining earnings momentum.The Zacks Consensus Estimate calls for fiscal 2026 earnings of $4.35 per share, up from $2.62 in fiscal 2025. Fiscal 2027 earnings are projected at $4.45 per share, indicating that the current earnings step-up is expected to hold rather than fully reverse. Earnings Estimates Image Source: Zacks Investment Research SNEX currently sports a Zacks Rank #1 (Strong Buy). Likewise, Interactive Brokers sports a Zacks Rank #1, while CME Group has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank stocks here.StoneX also has a Momentum Score of A and VGM Score of A, along with a Value Score of B and Growth Score of B. The combination of a top Zacks Rank with A or B Style Scores points to favorable near-term characteristics, though it does not eliminate integration, cost or revenue-capture risks. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report StoneX Group Inc. (SNEX) : Free Stock Analysis Report CME Group Inc. (CME) : Free Stock Analysis Report Interactive Brokers Group, Inc. (IBKR) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

StoneX Group Inc. (SNEX reported third-quarter fiscal 2026 earnings of $1.00 per share, which handily surpassed the Zacks Consensus Estimate of 76 cents. The bottom line jumped 85.2% year over year.Operating revenues increased 43.3% to $1.47 billion. The top line beat the consensus mark of $1.32 billion by 11.57%. Shares fell 1.6% in after-hours trading.Results benefited from broad-based strength across Commercial and Institutional segments, with higher volatility and increased demand supporting client activity. However, weakness in the Self-Directed/Retail segment and higher expenses were the headwinds.Net income more than doubled to $127.9 million from $63.4 million. Net operating revenues rose 47% year over year to $719.7 million. Listed derivatives net operating revenues increased 113% to $121.2 million, while over-the-counter derivatives advanced 73% to $101.9 million.Securities net operating revenues grew 36% to $171.3 million. Physical contracts surged 162% to $87.4 million, and interest and fees earned on client balances increased 51% to $111.9 million. However, FX and contracts-for-difference revenues declined 19% to $62.4 million. Commercial operating revenues jumped 97% to $452.2 million. Segment income more than doubled to $181.4 million from $82.7 million in the prior-year quarter. Growth was broad-based. Listed derivatives operating revenues rose 110% to $152.5 million, OTC derivatives increased 73% to $101.8 million and physical contracts climbed 106% to $115.4 million. Average client equity in listed derivatives soared 162% to $4.54 billion.Institutional operating revenues increased 40% to $875.3 million, while segment income rose 49% to $129.9 million. Net operating revenues for the segment jumped 56% to $312.3 million. Listed derivatives operating revenues surged 145% to $131.8 million, supported by an 83% increase in contract volume. Securities revenues grew 26% to $573.8 million as average daily volume (ADV) increased 33% to $12.26 billion. The R.J. O’Brien acquisition contributed 27 million listed derivatives contracts during the quarter.Self-Directed/Retail operating revenues declined 13% to $96.3 million. Segment income fell 36% to $24.9 million, reflecting pressure from lower FX and CFD activity. FX and CFD operating revenues decreased 19% to $64.7 million as ADV plunged 27% to $6.81 billion. Securities revenues provided a partial offset, rising 3% to $30.4 million. Revenue per million for FX and CFD contracts improved 11% to $147.Payments operating revenues rose 13% to $60.3 million, while segment income increased 22% to $34.4 million. Net operating revenues grew 12% to $56.4 million. Segment’s ADV increased 20% to $96 million. Revenue per million declined 7% to $9,915, indicating that stronger activity levels more than offset lower revenue capture. Total fixed compensation and other expenses increased 22% year over year to $314.2 million. Fixed compensation and benefits rose 21% to $149.8 million, while non-trading technology and support costs climbed 43% to $30.1 million.Variable compensation and benefits jumped 70% to $244 million. Transaction-based clearing expenses increased 52% to $144.3 million, and introducing broker commissions rose 87% to $93.1 million. As of June 30, 2026, return on equity improved to 18.4% from 13.1%, while return on tangible book value increased to 25% from 13.8%. Adjusted EBITDA rose 70% to $229.5 million.Cash and cash equivalents totaled $2.19 billion as of June 30, 2026, compared with $1.61 billion at fiscal 2025-end. Total stockholders’ equity increased to $2.84 billion from $2.38 billion. Management highlighted continued integration benefits from R.J. O’Brien, which has strengthened StoneX’s futures commission merchant position. A volatile operating backdrop continues to aid StoneX, with growth in client assets, average client funds, securities clearing, prime brokerage, digital assets and metals providing stable recurring income. Its broad product ecosystem, geographic reach, acquisitions, scaling equities and payments via automation and AI, and large addressable market will support growth. However, operating margin risk, higher credit costs and a premium valuation leave little room for execution missteps or unfavorable market conditions. StoneX Group Inc. price-consensus-eps-surprise-chart | StoneX Group Inc. Quote Currently, SNEX carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. BGC Group, Inc.’s BGC second-quarter 2026 adjusted earnings of 35 cents per share surpassed the Zacks Consensus Estimate by a penny. The bottom line improved 12.9% from the prior-year quarter.Results were aided by an improvement in revenues to record levels, primarily driven by higher brokerage revenues. An increase in Fenics revenues was another positive. However, higher total expenses hurt BGC Group results to some extent.Interactive Brokers Group’s IBKR second-quarter 2026 adjusted earnings per share of 69 cents surpassed the Zacks Consensus Estimate of 64 cents. The bottom line reflected a rise of 35.3% from the prior-year quarter.Results primarily benefited from an increase in revenues, growth in customer accounts and a rise in daily average revenue trades. However, higher expenses were the undermining factor for Interactive Brokers. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report StoneX Group Inc. (SNEX) : Free Stock Analysis Report BGC Group, Inc. (BGC) : Free Stock Analysis Report Interactive Brokers Group, Inc. (IBKR) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Find winning stocks in any market cycle. Join 7 million investors using Simply Wall St's investing ideas for FREE. The updated fair value estimate for Interactive Brokers Group has moved from US$88.27 to US$106.97, signaling a higher modeled price target in the latest valuation work. This shift lines up with broadly supportive Street commentary following Q2 2026 results, where analysts have focused on interest income, operating efficiency, and account growth while still acknowledging execution risks. As you read on, you will see how this changing price target fits into the evolving analyst narrative and what it could mean for your own view of Interactive Brokers Group. Analyst Price Targets don't always capture the full story. Head over to our Company Report to find new ways to value Interactive Brokers Group. During July 2026, BofA, Barclays, BMO Capital and Piper Sandler all raised price targets for Interactive Brokers Group, which signals a generally constructive stance on valuation after Q2 results. BofA and BMO highlight net interest income as a key earnings driver, with BMO also pointing to Q2 EPS and revenue that came in ahead of their estimates and a tax rate that they viewed as supportive for earnings. Multiple firms including BofA, BMO and Piper Sandler point to account growth as a core part of the Interactive Brokers Group equity story, with BMO describing the company as among the best positioned wealth managers in its coverage. Piper Sandler and Barclays emphasize pretax margins, exposure to global retail trading and security lending revenues as important pillars behind their more constructive stance on the stock. BMO acknowledges higher operating expenses, particularly non-comp costs that it links to SEC fees, which keeps execution and cost control on the radar for investors who are focused on margins. Earlier Piper Sandler commentary around prediction markets and perpetual futures points to potential competitive pressures that some investors may view as a longer term risk factor for Interactive Brokers Group. Do your thoughts align with the Bull or Bear Analysts? Perhaps you think there's more to the story. Head to the Simply Wall St Community to discover more perspectives! See how Interactive Brokers Group's fair value stacks up across multiple valuation models — not just analyst targets. Fair value for Interactive Brokers Group has moved from US$88.27 to US$106.97, an increase of about 21% in the updated model. Revenue growth assumption has shifted from 13.40% to 14.22% in the latest valuation work. Net profit margin assumption has adjusted from 16.53% to 17.31% for Interactive Brokers Group. Future P/E assumption has changed from 32.08x to 35.12x in the updated analysis. Discount rate has moved from 8.18% to 8.36% in the current valuation model. Narratives link Interactive Brokers Group's business story to a financial forecast and fair value that update as new data comes through. They help you see how product launches, account trends, and external risks connect to the numbers analysts are using. Head over to the Simply Wall St Community and follow the Narrative on Interactive Brokers Group to stay up to date on: How new products, platform enhancements, and international market access could influence trading activity and commission revenue. What record client credit balances of US$107.1b and the addition of 178,000 new accounts might indicate about trust in the platform and net interest income potential. Key risks such as heavier competition in online brokerage, reliance on trading volumes, regulatory and operational complexity from global expansion, and the effect of changing interest rates on net interest income. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include IBKR. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]

StoneX Group Inc. SNEX is scheduled to report third-quarter fiscal 2026 results after market close on Wednesday.In the fiscal second quarter, SNEX’s earnings beat the Zacks Consensus Estimate. Results primarily benefited from broad-based strength across all four operating segments, driven by higher volatility and increased demand, which supported client activity. The top line jumped 64% to $1.57 billion. StoneX is expected to have witnessed solid revenue growth in the fiscal third quarter as well. The Zacks Consensus Estimate for sales of $1.32 billion suggests a 28.5% surge on a year-over-year basis. Additionally, in the past week, the consensus estimate for earnings has remained unchanged at 76 cents. This indicates an increase of 40.7% from the prior-year quarter. Earnings Estimates Image Source: Zacks Investment Research StoneX doesn’t have an impressive earnings surprise history. The company’s earnings outpaced the Zacks Consensus Estimate in two of the trailing four quarters, with the average beat being 9.47%. Earnings Surprise Image Source: Zacks Investment Research With SNEX’s latest earnings release approaching, should investors buy the stock now or wait until after the results are announced? Let’s examine how the company is positioned ahead of earnings. During the to-be-reported quarter, client activity was robust, driven by heightened volatility. Hence, StoneX’s commission and clearing fees are expected to have increased like its peers, Robinhood Markets HOOD and Interactive Brokers Group IBKR. HOOD, which announced quarterly numbers on July 29, recorded a 44% year-over-year jump in transaction-based revenues. Interactive Brokers, which released second-quarter results on July 21, witnessed a 30% rise in commissions. Coming back to SNEX, the rise in its commission and clearing fees is likely to be driven by solid trading volume across different asset classes, including derivatives, FX and securities. Also, given the rise in higher interest-earning assets and securities lending activity, the company’s net interest income is expected to have increased. StoneX’s total fixed compensation and other expenses are likely to have remained elevated in the fiscal third quarter, driven by efforts to expand platform capabilities and improve customer support. Further, expansion through acquisitions is expected to have added to expenses. Our quantitative model doesn’t conclusively predict an earnings beat for StoneX this time. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is not the case here, as you see below.Earnings ESP: StoneX has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.Zacks Rank: It carries a Zacks Rank #3 at present. You can see the complete list of today’s Zacks #1 Rank stocks here. StoneX shares had an impressive start to fiscal 2026. In the fiscal third quarter, the stock jumped 46.9%, outperforming the Zacks Investment Bank industry’s growth of 15%. Also, it fared better than Robinhood and Interactive Brokers. Q3 2026 Price Performance Image Source: Zacks Investment Research Now, let’s look at the value StoneX offers investors at current levels. Currently, SNEX is trading at 4.78X 12-month trailing price/tangible book (P/TB), above the industry’s P/TB TTM multiple of 3.35X. Hence, the stock is trading at a premium compared with the industry. P/TB TTM Image Source: Zacks Investment Research StoneX stock is trading at a discount to Robinhood, while being expensive compared with Interactive Brokers. At present, Robinhood and Interactive Brokers have a P/TB TTM of 8.99X and 1.78X, respectively. StoneX serves a diversified base of commercial, institutional and retail clients through commodity risk management, derivatives, securities execution, foreign exchange, clearing, physical commodities and cross-border payments. It supports more than 80,000 institutional, commercial and payments clients and over 400,000 self-directed retail accounts across nearly 180 countries.Targeted acquisitions have expanded StoneX’s scale, product capabilities and geographic reach across commodities, wealth management, clearing, investment banking, payments, fixed income, metals and agricultural brokerage. The company is also deploying AI-enabled automation to improve processing efficiency, reconciliation, client service and software development.StoneX’s diversified and volatility-sensitive business model generates revenues from commissions, spreads, fees and interest income. As of March 31, 2026, average client equity and sweep balances totaled nearly $15.2 billion, supporting recurring income. Sustained market volatility, higher client activity and the integration of acquired businesses should drive further revenue growth.On the other hand, StoneX faces margin and earnings risks from declining Payments revenue per million, volatile Securities pricing and sensitivity to interest-rate and mark-to-market movements. Rising compensation, operating expenses and bad-debt provisions could further pressure profitability. Though hedging, higher transaction volumes and low relative credit losses provide some protection, unfavorable rate moves, persistent spread compression, elevated client leverage and market volatility may keep quarterly earnings uneven and limit operating leverage. Although StoneX’s fiscal third-quarter revenues are expected to have increased, the overall setup appears unfavorable amid rising cost pressures and a premium valuation.Investors may be better off waiting for the quarterly results and management’s commentary on the performance and industry trends. Existing shareholders may hold the stock, but fresh positions seem unwarranted ahead of the earnings release. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report StoneX Group Inc. (SNEX) : Free Stock Analysis Report Interactive Brokers Group, Inc. (IBKR) : Free Stock Analysis Report Robinhood Markets, Inc. (HOOD) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Interactive Brokers (NASDAQ: IBKR) keeps setting records in the financial asset trading space. The online brokerage catering to global traders posted a pre-tax profit margin of 77% in its latest quarterly earnings, marking seven straight quarters with a bottom-line margin above 70%. This makes it one of the most profitable companies in the world in relation to profit margins, which is why it now has a market cap of $155 billion. Here's the magic behind these absurd margins, and whether it makes the stock a buy right now. Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue » Stock trading is now almost entirely digital worldwide. For Interactive Brokers -- otherwise known as IBKR -- this has been a tailwind, as it is one of the best platforms for connecting global traders. Through decades of technology and regulatory investments, IBKR can connect investors who want to buy stocks, bonds, and foreign currencies in 170 markets worldwide. When an individual or a hedge fund in the United States wants to buy stocks in Japan, the easiest way is to use IBKR. The same can be said for someone in Japan who wants to invest directly in the United States. This better customer value proposition has people switching over their trading to IBKR, with customer accounts up 34% to 5.19 million at the end of last quarter. With only 3,000 employees globally, compared to sometimes 10 times that number at competing stock brokerages, IBKR has remained highly efficient in spending to scale profits quickly across its digital trading platform. This is why the business has enjoyed extreme operating leverage in recent years, hitting 77% last quarter. A ceiling of 100% limits how much more leverage IBKR can achieve in its operations, but its discipline on employee count should lead to even greater margin expansion in the years ahead if it can keep growing total customer accounts. One area where IBKR has seen a boost to its business in the last few years is net interest income. With the Federal Reserve raising interest rates, the company was able to charge customers more on margin loans and credit balances, as well as with idle cash on its balance sheet. Net interest income grew 23% to $1 billion last quarter, and is actually the largest revenue segment for the business. This may reverse in a falling interest rate environment, which will affect IBKR's growth and pre-tax profit margin. However, it doesn't change the fact that IBKR is one of the most efficiently run growth businesses in the world. But is the stock cheap? Today, IBKR trades at a price-to-earnings ratio (P/E) of 36, one of its highest levels in years, driven by a recent acceleration in customer account growth. I think the stock will likely do well over the long term. It is just hard to argue that IBKR is a screaming buy right now, due to this high P/E ratio. Before you buy stock in Interactive Brokers Group, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Interactive Brokers Group wasn’t one of them. The 10 stocks that made the cut are built for long-term growth and could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $371,519!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,281,302!* That performance is why people listen. With a track record of beating the S&P 500 by 4x, Stock Advisor offers a distinct advantage. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built for the long haul. See the 10 stocks » *Stock Advisor returns as of July 24, 2026. Brett Schafer has positions in Interactive Brokers Group. The Motley Fool has positions in and recommends Interactive Brokers Group. The Motley Fool recommends the following options: long January 2027 $43.75 calls on Interactive Brokers Group and short January 2027 $46.25 calls on Interactive Brokers Group. The Motley Fool has a disclosure policy. Interactive Brokers Has Posted a Pre-Tax Margin Above 70% for 7 Straight Quarters. Why Rivals Struggle to Copy It was originally published by The Motley Fool

Interactive Brokers Group, Inc. reported past second-quarter 2026 results with net income of US$312 million, up from US$224 million a year earlier, and diluted earnings per share from continuing operations of US$0.69 versus US$0.51. Alongside these record earnings, the broker continued to broaden its multi-asset platform, adding new cryptocurrencies, stablecoin funding, and expanded global market access, further integrating digital assets with traditional trading. We’ll now examine how Interactive Brokers’ record quarterly profitability and expanding crypto and global offerings affect its existing investment narrative. AI is about to change healthcare. These 41 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10b in market cap - there's still time to get in early. To own Interactive Brokers Group today, you need to believe in its technology led, low cost global brokerage model and its ability to keep attracting active clients and assets. The latest record quarter, with net income of US$312 million and a 77% pretax margin, supports that narrative and likely reinforces the near term catalyst of continued account and activity growth. At the same time, it also sharpens the key risk: heavy dependence on trading volumes and net interest income in markets that can quickly quiet down. The crypto and stablecoin funding update stands out as most relevant here. By adding more tokens, enabling near instant 24/7 stablecoin deposits and withdrawals, and integrating these flows into trading across 170 markets, Interactive Brokers is deepening its multi asset offering right as it reports record commissions and client equity. That could enhance the existing catalyst of broader global and product access, while also increasing the operational and regulatory complexity that investors should watch closely. Yet investors should also be aware that if market volatility falls or regulators tighten rules around products like crypto and prediction markets, the impact on Interactive Brokers could... Read the full narrative on Interactive Brokers Group (it's free!) Interactive Brokers Group's narrative projects $9.4 billion revenue and $1.6 billion earnings by 2029. This implies 13.4% yearly revenue growth and an earnings increase of about $0.6 billion from $1.0 billion today. Uncover how Interactive Brokers Group's forecasts yield a $88.27 fair value, a 6% downside to its current price. Before this earnings beat, the most optimistic analysts were already penciling in about US$7.6 billion of revenue and US$1.4 billion of earnings by 2028, built partly on rapid digital asset expansion and stablecoin funding. Those bullish views highlight how far expectations can stretch compared with more cautious takes that focus on volume and regulatory risks, and the latest record quarter could prompt both sides to revisit what they think is realistic. Explore 12 other fair value estimates on Interactive Brokers Group - why the stock might be worth as much as 13% more than the current price! Don't just follow the ticker - dig into the data and build a conviction that's truly your own. A great starting point for your Interactive Brokers Group research is our analysis highlighting 3 key rewards and 1 important warning sign that could impact your investment decision. Our free Interactive Brokers Group research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Interactive Brokers Group's overall financial health at a glance. Our top stock finds are flying under the radar-for now. Get in early: The future of work is here. Discover the 33 top robotics and automation stocks leading the charge in AI-driven automation and industrial transformation. The best AI stocks today may lie beyond giants like Nvidia and Microsoft. Find the next big opportunity with these 16 smaller AI-focused companies with strong growth potential through early-stage innovation in machine learning, automation, and data intelligence that could fund your retirement. Find 47 companies with promising cash flow potential yet trading below their fair value. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include IBKR. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]