Credit Suisse slashes price target on Intercontinental Exchange Inc. [ICE] – find out why.


Intercontinental Exchange Inc. [NYSE: ICE] slipped around -1.92 points on Wednesday, while shares priced at $94.55 at the close of the session, down -1.99%. The company report on May 9, 2022 that ICE Launches its First Nature-Based Solutions Carbon Credit Futures Contract.

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Intercontinental Exchange, Inc. (NYSE:ICE), a leading global provider of data, technology, and market infrastructure, today announced that it has launched a Nature-Based Solutions carbon credit futures contract (“NBS future”).

The NBS future, which trades under the contract code NBT, physically delivers Verified Carbon Unit (VCU) credits certified under Verra’s Verified Carbon Standard (VCS) Agriculture, Forestry and Other Land Use (AFOLU) Projects with Climate, Community and Biodiversity (CCB) Certification, with vintages between January 1, 2016, to December 31, 2020.

Intercontinental Exchange Inc. stock is now -30.87% down from its year-to-date (YTD) trading value. ICE Stock saw the intraday high of $97.74 and lowest of $94.52 per share. The company’s 52-week high price is 139.79, which means current price is +0.03% above from all time high which was touched on 03/18/22.

Compared to the average trading volume of 3.43M shares, ICE reached a trading volume of 4020655 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Intercontinental Exchange Inc. [ICE]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ICE shares is $145.67 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ICE stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Credit Suisse have made an estimate for Intercontinental Exchange Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on February 15, 2022. While these analysts kept the previous recommendation, BofA Securities raised their target price to Neutral. The new note on the price target was released on December 16, 2021, representing the official price target for Intercontinental Exchange Inc. stock. Previously, the target price had yet another raise to $131, while Credit Suisse analysts kept a Outperform rating on ICE stock.

The Average True Range (ATR) for Intercontinental Exchange Inc. is set at 4.01, with the Price to Sales ratio for ICE stock in the period of the last 12 months amounting to 5.87. The Price to Book ratio for the last quarter was 2.34, with the Price to Cash per share for the same quarter was set at 1.12. Price to Free Cash Flow for ICE in the course of the last twelve months was 24.57 with Quick ratio for the last quarter at 1.00.

How has ICE stock performed recently?

Intercontinental Exchange Inc. [ICE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -13.94. With this latest performance, ICE shares dropped by -26.19% in over the last four-week period, additionally sinking by -30.21% over the last 6 months – not to mention a drop of -15.17% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ICE stock in for the last two-week period is set at 16.98, with the RSI for the last a single of trading hit 12.39, and the three-weeks RSI is set at 21.46 for Intercontinental Exchange Inc. [ICE]. The present Moving Average for the last 50 days of trading for this stock 124.26, while it was recorded at 97.89 for the last single week of trading, and 126.22 for the last 200 days.

Intercontinental Exchange Inc. [ICE]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Intercontinental Exchange Inc. [ICE] shares currently have an operating margin of +47.42 and a Gross Margin at +72.57. Intercontinental Exchange Inc.’s Net Margin is presently recorded at +39.99.

Return on Equity for this stock inclined to 19.23, with Return on Assets sitting at 2.54.

Intercontinental Exchange Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 and a Current Ratio set at 1.00.

Earnings analysis for Intercontinental Exchange Inc. [ICE]

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ICE. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Intercontinental Exchange Inc. go to 7.96%.

Insider trade positions for Intercontinental Exchange Inc. [ICE]

There are presently around $47,816 million, or 90.60% of ICE stock, in the hands of institutional investors. The top three institutional holders of ICE stocks are: BLACKROCK INC. with ownership of 46,929,022, which is approximately 13.026% of the company’s market cap and around 0.30% of the total institutional ownership; VANGUARD GROUP INC, holding 43,498,491 shares of the stock with an approximate value of $4.2 billion in ICE stocks shares; and STATE STREET CORP, currently with $2.49 billion in ICE stock with ownership of nearly 3.282% of the company’s market capitalization.

Positions in Intercontinental Exchange Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 704 institutional holders increased their position in Intercontinental Exchange Inc. [NYSE:ICE] by around 33,697,605 shares. Additionally, 522 investors decreased positions by around 31,566,228 shares, while 177 investors held positions by with 430,391,275 shares. The mentioned changes placed institutional holdings at 495,655,108 shares, according to the latest SEC report filing. ICE stock had 152 new institutional investments in for a total of 7,154,876 shares, while 76 institutional investors sold positions of 1,654,022 shares during the same period.