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Interactive Brokers Group, Inc. (IBKR) operates as an automated electronic broker in approximately 120 electronic exchanges and market centers worldwide.
It specializes in executing and clearing trades in securities, futures, foreign exchange instruments, bonds, and mutual funds.
The company custodies and services accounts for hedge and mutual funds, registered investment advisors, proprietary trading groups, introducing brokers, and individual investors. It offers custody, prime brokerage, securities, and margin lending services.
The company provides electronic execution and clearing services.
The firm reported its quarterly reports earlier this week. First-quarter 2018earnings per share were 63 cents, above the consensus estimate of 56 cents. Also, the figure was higher than prior-year quarter’s figure of 34 cents per share. Total net revenues for the quarter increased 40.9% year over year to $527 million, well above the estimates of $477.5 million.
Shares have formed a bullish 'cup and handle' and higher share prices are expected for this stock. The 50-day moving average shown in brown on the 6-month chart. Higher share prices are expected for this stock.
Entry Point: $73.70
Stop Loss: $70.00
Target Price: $81.07
52-Week Trading Range: $34.26 - $75.27
IBKR closed at $63.00
