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Atlanta, Georgia-based Intercontinental Exchange, Inc. (ICE) is a global provider of technology and data to financial institutions, corporations, and government entities. With a market cap of $101.2 billion, the company operates through three segments: Exchanges, Fixed Income and Data Services, and Mortgage Technology.
Shares of Intercontinental Exchange have outpaced the broader market over the past 52 weeks. ICE has soared 32.3% over this period, while the broader S&P 500 Index ($SPX) has gained 9.2%. Moreover, shares of ICE are up 18.4% on a YTD basis, compared to SPX’s 3.7% decline.
Zooming in further, Intercontinental Exchange has also outperformed the Financial Select Sector SPDR Fund’s (XLF) 20.6% rise over the past 52 weeks and nearly 3.2% return on a YTD basis.
Intercontinental Exchange stock rose 1.7% following the release of its Q1 2025 results on May 1. Net revenues increased 8% year-over-year to $2.5 billion, driven by growth across all segments. Adjusted operating income rose 11% from the year-ago quarter to $1.5 billion, with a strong adjusted operating margin of 61%. The company reported adjusted EPS of $1.72, reflecting a 16.2% increase from the prior-year quarter and exceeding analysts’ estimates by 1.2%.
For the current fiscal year, ending in December 2025, analysts expect ICE’s adjusted EPS to increase 13.8% year-over-year to $6.91. Moreover, the company's earnings surprise history is strong. It beat or met the consensus estimates in the last four quarters.
Among the 18 analysts covering the stock, the consensus rating is a “Strong Buy.” That’s based on 12 “Strong Buy” ratings, three “Moderate Buys,” and three “Holds.”
On May 5, Morgan Stanley (MS) analyst Michael Cyprys raised ICE's price target to $192 while maintaining an “Equal-Weight” rating.
As of writing, Intercontinental Exchange is trading below the mean price target of $193.59. The Street-high price target of $239 implies a potential upside of 35.4% from the current price levels.
