On September 22, Interactive Brokers rose 3.1% in regular trading, trading at $93.6/share, with turnover of $89.29 million.
On the news front, Rothschild & Co Redburn raised its price target on Interactive Brokers to $95 from $94 on September 21, maintaining a Buy rating. The stock carries a consensus overweight rating with a mean analyst price target of $108.80. The upward revision came on the heels of robust August brokerage data: daily average revenue trades surged 23% year-over-year to 4.276 million, ending client equity climbed 35% to $962.8 billion, client accounts grew 35% to 5.46 million, and margin loan balances jumped 41% to $101.5 billion.
Broader sector strength also provided support. Within the Investment Banking & Brokerage sector, Robinhood gained 4.25%, XP Inc. rose 2.72%, Charles Schwab added 1.52%, Morgan Stanley climbed 1.35%, and Goldman Sachs advanced 0.98%.
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