Intercontinental Exchange Inc. [NYSE: ICE] stock went on an upward path that rose over 1.79% on Thursday, amounting to a one-week price decrease of less than -1.01%. The company report on March 1, 2023 that Truework brings additional automation to ICE Mortgage Technology platform to streamline mortgage underwriting for lenders.
From Robots to Self-Driving Cars: 5 AI Stocks to Consider for Your Portfolio
The artificial intelligence (AI) revolution is already here and it's about to change everything we know about everything. With the global market for AI projected to grow from $137 billion in 2022 to over $1.81 trillion by 2030, there's never been a better time to invest in this burgeoning industry. That's why we've compiled a list of the Top 5 AI Stocks to Buy for 2023. These companies are at the forefront of the AI revolution, and have the potential to deliver huge returns to investors like you.
Get our free report, "Top 5 AI Stocks to Buy for 2023".
Truework, a fintech company providing income and employment verification for the nation’s largest mortgage lenders, announced today that their integration is now built on the latest Encompass Partner Connect™ API Platform and available through ICE Mortgage Technology®, part of Intercontinental Exchange, Inc. (NYSE: ICE), a leading global provider of data, technology and market infrastructure, to help reduce costs and increase underwriting efficiency for mortgage lenders.
Truework is the latest ICE Mortgage Technology partner to add Automated Service Ordering through the Encompass platform.
Over the last 12 months, ICE stock dropped by -19.60%. The one-year Intercontinental Exchange Inc. stock forecast points to a potential upside of 19.63. The average equity rating for ICE stock is currently 2.00, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $58.10 billion, with 559.00 million shares outstanding and 550.82 million shares in the current float. Compared to the average trading volume of 2.27M shares, ICE stock reached a trading volume of 5821156 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on 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 $127.79 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.
BofA Securities have made an estimate for Intercontinental Exchange Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on November 17, 2022. While these analysts kept the previous recommendation, Citigroup raised their target price to Neutral. The new note on the price target was released on October 12, 2022, representing the official price target for Intercontinental Exchange Inc. stock. Previously, the target price had yet another raise to $164, while Rosenblatt analysts kept a Buy rating on ICE stock.
The Average True Range (ATR) for Intercontinental Exchange Inc. is set at 2.07, with the Price to Sales ratio for ICE stock in the period of the last 12 months amounting to 6.03. The Price to Book ratio for the last quarter was 2.53, with the Price to Cash per share for the same quarter was set at 3.18. Price to Free Cash Flow for ICE in the course of the last twelve months was 23.47 with Quick ratio for the last quarter at 1.10.
ICE Stock Performance Analysis:
Intercontinental Exchange Inc. [ICE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.01. With this latest performance, ICE shares dropped by -4.50% in over the last four-week period, additionally plugging by 2.19% over the last 6 months – not to mention a drop of -19.60% 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 39.89, with the RSI for the last a single of trading hit 37.98, and the three-weeks RSI is set at 42.91 for Intercontinental Exchange Inc. [ICE]. The present Moving Average for the last 50 days of trading for this stock 105.68, while it was recorded at 101.89 for the last single week of trading, and 100.93 for the last 200 days.
Insight into Intercontinental Exchange Inc. Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Intercontinental Exchange Inc. [ICE] shares currently have an operating margin of +41.10 and a Gross Margin at +68.66. Intercontinental Exchange Inc.’s Net Margin is presently recorded at +15.76.
Return on Equity for this stock inclined to 6.37, with Return on Assets sitting at 0.75.
Intercontinental Exchange Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.10 and a Current Ratio set at 1.10.
ICE Stock EPS
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 5.86%.
Intercontinental Exchange Inc. [ICE] Insider Position Details
There are presently around $51,562 million, or 91.20% of ICE stock, in the hands of institutional investors. The top three institutional holders of ICE stocks are: VANGUARD GROUP INC with ownership of 45,388,511, which is approximately 0.779% of the company’s market cap and around 0.20% of the total institutional ownership; BLACKROCK INC., holding 41,054,957 shares of the stock with an approximate value of $4.22 billion in ICE stocks shares; and MORGAN STANLEY, currently with $2.61 billion in ICE stock with ownership of nearly 18.934% of the company’s market capitalization.
Positions in Intercontinental Exchange Inc. stocks held by institutional investors increased at the end of Thursday and at the time of the Thursday reporting period, where 630 institutional holders increased their position in Intercontinental Exchange Inc. [NYSE:ICE] by around 33,481,620 shares. Additionally, 574 investors decreased positions by around 28,851,812 shares, while 153 investors held positions by with 439,685,720 shares. The mentioned changes placed institutional holdings at 502,019,152 shares, according to the latest SEC report filing. ICE stock had 151 new institutional investments in for a total of 3,678,814 shares, while 80 institutional investors sold positions of 3,173,630 shares during the same period.