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IG Group Holdings ( (GB:IGG) ) has shared an announcement.
IG Group Holdings plc has announced the acquisition of Independent Reserve, a prominent cryptocurrency exchange in Australia, for A$178.0m. This strategic move accelerates IG’s entry into the Asia Pacific cryptocurrency market, enhancing its offerings alongside its existing operations in the UK and US. The acquisition, which aligns with IG’s strategic framework, provides immediate market access in Australia and Singapore and is expected to be financially beneficial, being cash EPS accretive in the first full financial year post-closing.
The most recent analyst rating on (GB:IGG) stock is a Buy with a £1282.00 price target. To see the full list of analyst forecasts on IG Group Holdings stock, see the GB:IGG Stock Forecast page.
Spark’s Take on GB:IGG Stock
According to Spark, TipRanks’ AI Analyst, GB:IGG is a Outperform.
IG Group Holdings scores well due to strong technical indicators and a solid valuation, supported by a stable financial position. The main risks are the recent declines in revenue and free cash flow growth, which could impact future financial health. The absence of earnings call data and corporate events does not affect the overall score.
To see Spark’s full report on GB:IGG stock, click here.
More about IG Group Holdings
IG Group Holdings plc is a UK-based company that provides online trading platforms and educational resources, offering access to approximately 19,000 financial markets worldwide. It is a FTSE 250 company known for empowering ambitious customers globally.
Average Trading Volume: 1,215,488
Technical Sentiment Signal: Buy
Current Market Cap: £3.91B
For detailed information about IGG stock, go to TipRanks’ Stock Analysis page.