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OFFON

INTERCONTINENTAL EXCHANGE, INC.

(ICE)
  Report
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Intercontinental Exchange : Reports Strong Second Quarter 2021

07/29/2021 | 07:32am EDT

 

 

Jeffrey C. Sprecher,

ICE Chairman & Chief Executive Officer, said,

"We are pleased to report our second quarter results that extend our track record of growth. Amidst a dynamic macroeconomic backdrop, customers continue to access our networks to manage risk, consume data and drive workflow efficiencies. As we look to the second half of the year and beyond, we will continue to leverage our data, technology & network expertise to deliver innovative solutions for our customers and drive growth for our stockholders."

  • 2Q21 net revenues of $1.7 billion, +22% y/y

 

 

 

  • 2Q21 GAAP diluted EPS of $2.22, +134% y/y

 

 

 

  • 2Q21 pre-tax gain of $1.23 billion related to the full divestment of stake in Coinbase

 

 

 

  • 2Q21 adj. diluted EPS of $1.16, +12% y/y

 

 

 

  • 2Q21 operating income of $799 million, +7% y/y; adjusted operating income of $963 million, +17% y/y

 

 

 

  • 2Q21 operating margin of 47%; adj. operating margin of 56%

 

 

 

Intercontinental Exchange (NYSE: ICE), a leading global provider of data, technology and market infrastructure, today reported financial results for the second quarter of 2021. For the quarter ended June 30, 2021, consolidated net income attributable to ICE was $1.3 billion on $1.7 billion of consolidated revenues, less transaction-based expenses. Second quarter GAAP diluted earnings per share (EPS) were $2.22. Adjusted net income attributable to ICE was $657 million in the second quarter and adjusted diluted EPS were $1.16. Please refer to the reconciliation of non-GAAP financial measures included in this press release for more information on our adjusted operating expenses, adjusted operating income, adjusted operating margin, adjusted net income, adjusted diluted EPS and free cash flow.

Warren Gardiner, ICE Chief Financial Officer, added: "In the second quarter, we once again grew revenues, operating income, earnings and cash flow. Our performance is a testament to the power of our diverse business model, which, through an array of macroeconomic environments, continues to deliver consistent and compounding growth for our stockholders."

Second Quarter 2021 Business Highlights

$ (in millions)

Net Revenue

Op Margin

Adj Op Margin

 

2Q21

Exchanges

$909

64%

67%

Fixed Income and Data Services

$458

26%

36%

Mortgage Technology

$340

28%

56%

Consolidated

$1,707

47%

56%

Second quarter consolidated net revenues were $1.7 billion, up 22% year-over-year including exchange net revenues of $909 million, fixed income and data services revenues of $458 million and mortgage technology revenues of $340 million. Consolidated operating expenses were $908 million for the second quarter of 2021. On an adjusted basis, consolidated operating expenses were $744 million. Consolidated operating income for the second quarter was $799 million and the operating margin was 47%. On an adjusted basis, consolidated operating income for the second quarter was $963 million and the adjusted operating margin was 56%.

Exchanges Segment Results

Second quarter exchange net revenues were $909 million. Exchange operating expenses were $326 million and on an adjusted basis, were $302 million in the second quarter. Segment operating income for the second quarter was $583 million and the operating margin was 64%. On an adjusted basis, operating income was $607 million and the adjusted operating margin was 67%.

$ (in millions)

2Q21

2Q20

% Chg

Revenue, net:

 

 

 

Energy

$274

$276

—%

Ags and Metals

62

59

3%

Financials(1)

83

76

8%

Cash Equities and Equity Options

85

101

(17)%

OTC and Other(2)

78

75

4%

Data and Connectivity Services

208

195

7%

Listings

119

111

8%

Segment Revenue

$909

$893

2%

(1) Financials include interest rates and other financial futures and options.

(2) OTC & other includes physical energy, interest income on certain clearing margin deposits, regulatory penalties and fines, fees for use of our facilities, regulatory fees charged to member organizations of our U.S. securities exchanges, designated market maker service fees, technology development fees, exchange member fees, and agriculture grading and certification fees.

Fixed Income and Data Services Segment Results

Second quarter fixed income and data services revenues were $458 million. Fixed income and data services operating expenses were $337 million and adjusted operating expenses were $291 million in the second quarter. Segment operating income for the second quarter was $121 million and the operating margin was 26%. On an adjusted basis, operating income was $167 million and the adjusted operating margin was 36%.

$ (in millions)

2Q21

2Q20

% Chg

Const
Curr(1)

Revenue:

 

 

 

 

Fixed Income Execution

$13

$20

(33)%

(33)%

CDS Clearing

38

47

(19)%

(21)%

Fixed Income Data and Analytics

268

252

6%

5%

Other Data and Network Services

139

127

9%

7%

Segment Revenue

$458

$446

3%

1%

(1) Net revenues in constant currency are calculated holding both the pound sterling and euro at the average exchange rate from 2Q20, 1.2413 and 1.1011, respectively.

Mortgage Technology Segment Results

Second quarter mortgage technology revenues were $340 million. Mortgage technology operating expenses were $245 million and adjusted operating expenses were $151 million in the second quarter. Segment operating income for the second quarter was $95 million and the operating margin was 28%. On an adjusted basis, operating income was $189 million and the adjusted operating margin was 56%.

$ (in millions)

2Q21

2Q20

% Chg

Revenue:

 

 

 

Origination Technology

$241

$—

n/a

Closing Solutions

69

54

26%

Data and Analytics

18

n/a

Other

12

2

n/a

Segment Revenue

$340

$56

n/a

Other Matters

  • The effective tax rate for the second quarter of 2021 was 35%.
  • Operating cash flow through the second quarter of 2021 was $1.6 billion and free cash flow was $1.4 billion.
  • Unrestricted cash was $602 million and outstanding debt was $14.5 billion as of June 30, 2021.
  • Through the second quarter of 2021, ICE paid $374 million in dividends.
  • ICE recorded a pre-tax gain of $1.23 billion related to the full divestment of its stake in Coinbase in the second quarter of 2021.

Financial Guidance

  • ICE's third quarter 2021 total recurring revenues are expected to be in a range of $870 million to $885 million.
  • ICE's third quarter 2021 GAAP operating expenses are expected to be in a range of $930 millionto $940 million and adjusted operating expenses(1) are expected to be in a range of $770 million to $780 million and include $55 million related to Bakkt.
  • ICE's full year 2021 GAAP operating expenses are expected to be in a range of $3.610 billionto $3.640 billion and adjusted operating expenses(1) are expected to be in a range of $2.950 billion to $2.980 billion to include third quarter Bakkt expense of $55 million.
  • ICE's third quarter 2021 GAAP non-operating expense(2) is expected to be in the range of $110 million to $115 million and adjusted non-operating expense is expected to be in the range of $100 million to $105 million.
  • ICE's full year 2021 capital expenditures are expected to be in a range of $430 million to $450 million.
  • ICE's diluted share count for the third quarter is expected to be in the range of 563 million to 569 million weighted average shares outstanding.

(1) 2021 and 3Q21 non-GAAP operating expenses exclude amortization of acquisition-related intangibles and transaction & integration costs.

(2) Non-operating expense includes interest income, interest expense and net other income. Non-GAAP non-operating expense excludes the equity earnings from unconsolidated investees.

Earnings Conference Call Information

ICE will hold a conference call today, July 29, 2021, at 8:30 a.m. ET to review its second quarter 2021 financial results. A live audio webcast of the earnings call will be available on the company's website at www.theice.com in the investor relations section. Participants may also listen via telephone by dialing 844-512-2926 from the United States, 866-284-3684 from Canada or 412-317-6300 from outside of the United States and Canada. Telephone participants are required to provide the participant entry number 0007154 and are recommended to call 10 minutes prior to the start of the call. The call will be archived on the company's website for replay.

The conference call for the third quarter 2021 earnings has been scheduled for October 28th, 2021 at 8:30 a.m. ET. Please refer to the Investor Relations website at www.ir.theice.com for additional information.

Historical futures, options and cash ADV, rate per contract, open interest data and CDS cleared information can be found at: http://ir.theice.com/investors-and-media/supplemental-volume-info/default.aspx

 

Consolidated Statements of Income

(In millions, except per share amounts)

(Unaudited)

 

 

Six Months Ended
June 30,

Three Months Ended
June 30,

Revenues:

2021

 

2020

 

2021

 

2020

 

Exchanges

$

2,942

 

$

3,069

 

$

1,336

 

$

1,464

 

Fixed income and data services

926

 

910

 

458

 

446

 

Mortgage technology

695

 

102

 

340

 

56

 

Total revenues

4,563

 

4,081

 

2,134

 

1,966

 

Transaction-based expenses:

 

 

 

 

Section 31 fees

166

 

320

 

41

 

154

 

Cash liquidity payments, routing and clearing

893

 

807

 

386

 

417

 

Total revenues, less transaction-based expenses

3,504

 

2,954

 

1,707

 

1,395

 

Operating expenses:

 

 

 

 

Compensation and benefits

719

 

551

 

365

 

273

 

Professional services

81

 

63

 

37

 

34

 

Acquisition-related transaction and integration costs

28

 

14

 

10

 

2

 

Technology and communication

327

 

257

 

165

 

126

 

Rent and occupancy

41

 

40

 

20

 

19

 

Selling, general and administrative

111

 

89

 

60

 

40

 

Depreciation and amortization

506

 

314

 

251

 

157

 

Total operating expenses

1,813

 

1,328

 

908

 

651

 

Operating income

1,691

 

1,626

 

799

 

744

 

Other income (expense):

 

 

 

 

Interest income

 

8

 

 

2

 

Interest expense

(213

)

(156

)

(106

)

(84

)

Other income, net

1,287

 

31

 

1,239

 

11

 

Other income (expense), net

1,074

 

(117

)

1,133

 

(71

)

Income before income tax expense

2,765

 

1,509

 

1,932

 

673

 

Income tax expense

862

 

323

 

679

 

145

 

Net income

$

1,903

 

$

1,186

 

$

1,253

 

$

528

 

Net income attributable to non-controlling interest

(5

)

(13

)

(1

)

(5

)

Net income attributable to Intercontinental Exchange, Inc.

$

1,898

 

$

1,173

 

$

1,252

 

$

523

 

 

 

 

 

 

Earnings per share attributable to Intercontinental Exchange, Inc. common stockholders:

 

 

 

 

Basic

$

3.38

 

$

2.14

 

$

2.23

 

$

0.96

 

Diluted

$

3.36

 

$

2.13

 

$

2.22

 

$

0.95

 

Weighted average common shares outstanding:

 

 

 

 

Basic

562

 

549

 

563

 

546

 

Diluted

565

 

552

 

565

 

549

 

 

Consolidated Balance Sheets

(In millions)

(Unaudited)

 

 

As of

As of

 

June 30, 2021

December 31, 2020

Assets:

 

 

Current assets:

 

 

Cash and cash equivalents

$

602

 

$

583

 

Short-term restricted cash and cash equivalents

1,046

 

1,000

 

Customer accounts receivable, net

1,300

 

1,230

 

Margin deposits, guaranty funds and delivery contracts receivable

92,080

 

84,083

 

Prepaid expenses and other current assets

1,038

 

323

 

Total current assets

96,066

 

87,219

 

Property and equipment, net

1,745

 

1,713

 

Other non-current assets:

 

 

Goodwill

21,315

 

21,291

 

Other intangible assets, net

14,098

 

14,408

 

Long-term restricted cash and cash equivalents

398

 

408

 

Other non-current assets

568

 

1,161

 

Total other non-current assets

36,379

 

37,268

 

Total assets

$

134,190

 

$

126,200

 

 

 

 

Liabilities and Equity:

 

 

Current liabilities:

 

 

Accounts payable and accrued liabilities

$

636

 

$

639

 

Section 31 fees payable

163

 

207

 

Accrued salaries and benefits

210

 

346

 

Deferred revenue

428

 

158

 

Short-term debt

318

 

2,411

 

Margin deposits, guaranty funds and delivery contracts payable

92,080

 

84,083

 

Other current liabilities

415

 

155

 

Total current liabilities

94,250

 

87,999

 

Non-current liabilities:

 

 

Non-current deferred tax liability, net

3,711

 

3,563

 

Long-term debt

14,135

 

14,126

 

Accrued employee benefits

203

 

206

 

Non-current operating lease liability

287

 

320

 

Other non-current liabilities

399

 

359

 

Total non-current liabilities

18,735

 

18,574

 

Total liabilities

112,985

 

106,573

 

Commitments and contingencies

 

 

Redeemable non-controlling interest in consolidated subsidiaries

89

 

93

 

Equity:

 

 

Intercontinental Exchange, Inc. stockholders’ equity:

 

 

Common stock

6

 

6

 

Treasury stock, at cost

(5,267

)

(5,200

)

Additional paid-in capital

13,952

 

13,845

 

Retained earnings

12,563

 

11,039

 

Accumulated other comprehensive loss

(174

)

(192

)

Total Intercontinental Exchange, Inc. stockholders’ equity

21,080

 

19,498

 

Non-controlling interest in consolidated subsidiaries

36

 

36

 

Total equity

21,116

 

19,534

 

Total liabilities and equity

$

134,190

 

$

126,200

 

Non-GAAP Financial Measures and Reconciliation

We use non-GAAP measures internally to evaluate our performance and in making financial and operational decisions. When viewed in conjunction with our GAAP results and the accompanying reconciliation, we believe that our presentation of these measures provides investors with greater transparency and a greater understanding of factors affecting our financial condition and results of operations than GAAP measures alone. In addition, we believe the presentation of these measures is useful to investors for period-to-period comparison of results because the items described below as adjustments to GAAP are not reflective of our core business performance. These financial measures are not in accordance with, or an alternative to, GAAP financial measures and may be different from non-GAAP measures used by other companies. We use these adjusted results because we believe they more clearly highlight trends in our business that may not otherwise be apparent when relying solely on GAAP financial measures, since these measures eliminate from our results specific financial items that have less bearing on our core operating performance. We strongly recommend that investors review the GAAP financial measures and additional non-GAAP information included in our Quarterly Report on Form 10-Q, including our consolidated financial statements and the notes thereto.

Adjusted operating expenses, adjusted operating income, adjusted operating margin, adjusted net income attributable to ICE common stockholders, adjusted diluted earnings per share and free cash flow for the periods presented below are calculated by adding or subtracting the adjustments described below, which are not reflective of our cash operations and core business performance, and their related income tax effect and other tax adjustments (in millions, except for per share amounts):

 

Adjusted Operating Income, Operating Margin and Operating Expense Reconciliation

(In millions)

(Unaudited)

 

 

Exchanges
Segment

 

Fixed Income and Data Services Segment

 

Mortgage Technology Segment

 

Consolidated

 

Six Months
Ended

June 30,

 

Six Months
Ended

June 30,

 

Six Months
Ended

June 30,

 

Six Months
Ended

June 30,

 

2021

 

 

2020

 

 

2021

 

 

2020

 

 

2021

 

 

2020

 

 

2021

 

 

2020

 

Total revenues, less transaction-based expenses

$1,883

 

 

$1,942

 

 

$926

 

 

$910

 

 

$695

 

 

$102

 

 

$3,504

 

 

$2,954

 

Operating expenses

647

 

 

622

 

 

672

 

 

656

 

 

494

 

 

50

 

 

1,813

 

 

1,328

 

Less: Amortization of acquisition-related intangibles

37

 

 

35

 

 

91

 

 

96

 

 

185

 

 

10

 

 

313

 

 

141

 

Less: Transaction and integration costs and acquisition-related success fees

10

 

 

10

 

 

 

 

 

 

17

 

 

 

 

27

 

 

10

 

Less: Accruals relating to a regulatory settlement

 

 

 

 

 

 

5

 

 

 

 

 

 

 

 

5

 

Adjusted operating expenses

$600

 

 

$577

 

 

$581

 

 

$555

 

 

$292

 

 

$40

 

 

$1,473

 

 

$1,172

 

Operating income

$1,236

 

 

$1,320

 

 

$254

 

 

$254

 

 

$201

 

 

$52

 

 

$1,691

 

 

$1,626

 

Adjusted operating income

$1,283

 

 

$1,365

 

 

$345

 

 

$355

 

 

$403

 

 

$62

 

 

$2,031

 

 

$1,782

 

Operating margin

66

%

 

68

%

 

27

%

 

28

%

 

29

%

 

50

%

 

48

%

 

55

%

Adjusted operating margin

68

%

 

70

%

 

37

%

 

39

%

 

58

%

 

59

%

 

58

%

 

60

%

 

Adjusted Operating Income, Operating Margin and Operating Expense Reconciliation

(In millions)

(Unaudited)

 

 

Exchanges
Segment

 

Fixed Income and Data Services Segment

 

Mortgage Technology Segment

 

Consolidated

 

Three Months
Ended

June 30,

 

Three Months
Ended

June 30,

 

Three Months
Ended

June 30,

 

Three Months
Ended

June 30,

 

2021

 

2020

 

2021

 

2020

 

2021

 

2020

 

2021

 

2020

Total revenues, less transaction-based expenses

$909

 

 

$893

 

 

$458

 

 

$446

 

 

$340

 

 

$56

 

 

$1,707

 

 

$1,395

 

Operating expenses

326

 

 

300

 

 

337

 

 

326

 

 

245

 

 

25

 

 

908

 

 

651

 

Less: Amortization of acquisition-related intangibles

19

 

 

18

 

 

46

 

 

48

 

 

90

 

 

5

 

 

155

 

 

71

 

Less: Transaction and integration costs and acquisition-related success fees

5

 

 

 

 

 

 

 

 

4

 

 

 

 

9

 

 

 

Less: Accruals relating to a regulatory settlement

 

 

 

 

 

 

5

 

 

 

 

 

 

 

 

5

 

Adjusted operating expenses

$302

 

 

$282

 

 

$291

 

 

$273

 

 

$151

 

 

$20

 

 

$744

 

 

$575

 

Operating income

$583

 

 

$593

 

 

$121

 

 

$120

 

 

$95

 

 

$31

 

 

$799

 

 

$744

 

Adjusted operating income

$607

 

 

$611

 

 

$167

 

 

$173

 

 

$189

 

 

$36

 

 

$963

 

 

$820

 

Operating margin

64

%

 

66

%

 

26

%

 

27

%

 

28

%

 

53

%

 

47

%

 

53

%

Adjusted operating margin

67

%

 

68

%

 

36

%

 

39

%

 

56

%

 

62

%

 

56

%

 

59

%

 

Adjusted Net Income Attributable to ICE and EPS

(In millions)

(Unaudited)

 

 

Six Months
Ended June 30,
2021

 

Six Months
Ended June 30,
2020

Net income attributable to ICE

$

1,898

 

 

$

1,173

 

Add: Amortization of acquisition-related intangibles

313

 

 

141

 

Add: Transaction and integration costs and acquisition-related success fees

27

 

 

10

 

Add: Extinguishment of December 2020 Senior Notes

 

 

14

 

Add: Accruals relating to a regulatory settlement

 

 

5

 

Add: Impairment of CAT promissory notes

 

 

2

 

Less: Gain on sale of Coinbase equity investment

(1,227

)

 

 

Less: Gain related to the settlement of an acquisition-related indemnification claim

(7

)

 

 

Less: Net income from unconsolidated investees

(34

)

 

(35

)

Add/(Less): Income tax effect for the above items

248

 

 

(33

)

Add/(Less): Deferred tax adjustments on acquisition-related intangibles

197

 

 

(10

)

Adjusted net income attributable to ICE

$

1,415

 

 

$

1,267

 

 

 

 

 

Basic earnings per share

$

3.38

 

 

$

2.14

 

Diluted earnings per share

$

3.36

 

 

$

2.13

 

 

 

 

 

Adjusted basic earnings per share

$

2.52

 

 

$

2.31

 

Adjusted diluted earnings per share

$

2.50

 

 

$

2.30

 

 

 

 

 

Basic weighted average common shares outstanding

562

 

 

549

 

Diluted weighted average common shares outstanding

565

 

 

552

 

 

Adjusted Net Income Attributable to ICE and EPS

(In millions)

(Unaudited)

 

 

Three Months
Ended June 30,
2021

 

Three Months
Ended June
30, 2020

Net income attributable to ICE

$

1,252

 

 

$

523

 

Add: Amortization of acquisition-related intangibles

155

 

 

71

 

Add: Transaction and integration costs and acquisition-related success fees

9

 

 

 

Add: Extinguishment of December 2020 Senior Notes

 

 

14

 

Add: Accruals relating to a regulatory settlement

 

 

5

 

Add: Impairment of CAT promissory notes

 

 

2

 

Less: Gain on sale of Coinbase equity investment

(1,227

)

 

 

Less: Gain related to the settlement of an acquisition-related indemnification claim

(7

)

 

 

Less: Net income from unconsolidated investees

(9

)

 

(18

)

Add/(Less): Income tax effect for the above items

288

 

 

(16

)

Add/(Less): Deferred tax adjustments on acquisition-related intangibles

196

 

 

(9

)

Adjusted net income attributable to ICE

$

657

 

 

$

572

 

 

 

 

 

Basic earnings per share

$

2.23

 

 

$

0.96

 

Diluted earnings per share

$

2.22

 

 

$

0.95

 

 

 

 

 

Adjusted basic earnings per share

$

1.17

 

 

$

1.05

 

Adjusted diluted earnings per share

$

1.16

 

 

$

1.04

 

 

 

 

 

Basic weighted average common shares outstanding

563

 

 

546

 

Diluted weighted average common shares outstanding

565

 

 

549

 

 

Free Cash Flow Calculation

(In millions)

(Unaudited)

 

 

Six months ended
June 30, 2021

Six months ended
June 30, 2020

Cash flow from operations

$1,607

 

$1,378

 

Less: Capital expenditures and capitalized software development costs

(240

)

(144

)

Add/(Less): Section 31 fees, net

44

 

(178

)

Free cash flow

$1,411

 

$1,056

 

About Intercontinental Exchange

Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds and operates digital networks to connect people to opportunity. We provide financial technology and data services across major asset classes that offer our customers access to mission-critical workflow tools that increase transparency and operational efficiencies. We operate exchanges, including the New York Stock Exchange, and clearing houses that help people invest, raise capital and manage risk across multiple asset classes. Our comprehensive fixed income data services and execution capabilities provide information, analytics and platforms that help our customers capitalize on opportunities and operate more efficiently. At ICE Mortgage Technology, we are transforming and digitizing the U.S. residential mortgage process, from consumer engagement through loan registration. Together, we transform, streamline and automate industries to connect our customers to opportunity.

Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located here. Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading “Key Information Documents (KIDS).”

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 - Statements in this press release regarding ICE's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in Intercontinental Exchange, Inc.’s Annual Report on Form 10-K for the year ended December 31, 2020, as filed with the SEC on February 4, 2021. We caution you not to place undue reliance on these forward-looking statements. Any forward-looking statement speaks only as of the date on which such statement is made, and we undertake no obligation to update any forward-looking statement or statements to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of an unanticipated event. New factors emerge from time to time, and it is not possible for management to predict all factors that may affect our business and prospects. Further, management cannot assess the impact of each factor on the business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements.

SOURCE: Intercontinental Exchange

ICE-CORP


ę Business Wire 2021
All news about INTERCONTINENTAL EXCHANGE, INC.
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Analyst Recommendations on INTERCONTINENTAL EXCHANGE, INC.
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Financials (USD)
Sales 2021 6 936 M - -
Net income 2021 2 977 M - -
Net Debt 2021 13 545 M - -
P/E ratio 2021 22,7x
Yield 2021 1,11%
Capitalization 67 432 M 67 432 M -
EV / Sales 2021 11,7x
EV / Sales 2022 11,1x
Nbr of Employees 9 088
Free-Float 88,1%
Chart INTERCONTINENTAL EXCHANGE, INC.
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Intercontinental Exchange, Inc. Technical Analysis Chart | ICE | US45866F1049 | MarketScreener
Technical analysis trends INTERCONTINENTAL EXCHANGE, INC.
Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 17
Last Close Price 119,74 $
Average target price 136,21 $
Spread / Average Target 13,8%
EPS Revisions
Managers and Directors
Jeffrey Craig Sprecher Chairman & Chief Executive Officer
Benjamin R. Jackson President
Warren Gardiner Chief Financial Officer
Mayur Kapani Chief Technology Officer
Mark P. Wassersug Chief Operating Officer
Sector and Competitors