Analyst Consensus ?
ConsensusBuy36 ratings
Bullish3288.9%
Neutral411.1%
Bearish00.0%
Intercontinental Exchange, Inc. · ICE · FY2024 Q4 · Calendar Q1 2025
ICE: Record 2024, with energy growth and mortgage execution ahead
Management presented record 2024 results and a confident operating outlook, supported by energy, rates, data services and mortgage technology; execution and policy remain key tests.
Reported Before market openNYSEFinancial Services
$88.37B market cap
80quality score
Earnings scorecard
Reported versus consensus
Reported EPS
—
Consensus $1.53
EPS surprise
—
Reported versus consensus
Reported revenue
—
Consensus $2.32B
Revenue surprise
—
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
+4.3%
Event window
SPY move
+0.3%
Same window
Abnormal move
+4.0%
Stock minus SPY
Volume
1.4×
Versus trailing sessions
Subsequent drift
+1.5%
Up to 20 sessions
ICESPY benchmark
Ask FN2 about ICE FY2024 Q4
Transcript, numbers and history already loaded
What drove ICE's +4.3% move after FY2024 Q4 earnings?What changed in ICE's guidance and outlook in FY2024 Q4?Give me the bull and bear case for ICE after FY2024 Q4 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
The call highlighted record 2024 revenue, operating income and cash flow, higher Black Knight synergy targets, planned 2025 share repurchases, and new Treasury-clearing and climate-risk data products.
Guidance delta
Guidance sentiment was maintained: the 2025 outlook called for low-single-digit to mid-single-digit revenue growth, continued capex investment and share repurchases.
Key takeaways
- Management described 2024 as a record year for revenue, operating income and cash flow.
- Energy markets, especially Global Energy contracts, were highlighted as major growth drivers.
- Mortgage Technology is moving toward greater digital conversion, with new client wins expected to ramp in 2025.
- Management highlighted expense synergies, data-center investment and new Treasury-clearing and climate-risk data products.
Management priorities
- Integrate Black Knight, AFX and other acquired capabilities across Mortgage and Fixed-Income ecosystems.
- Expand data-center capacity and data-services infrastructure.
- Advance products including U.S. Treasury clearing, climate-risk data and Fixed-Income analytics.
- Continue deleveraging while beginning share repurchases in Q1 2025.
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Estimate
Beat
Miss
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Analyst 52W Price Targets
$156.42Current
$84Low
$166.55Average
$218High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 14, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| TD Cowen | Hold | Hold | Maintain | Oct 12, 2026 |
| Morgan Stanley | Equal Weight | Equal Weight | Maintain | Oct 9, 2026 |
| Barclays | Overweight | Overweight | Maintain | Oct 7, 2026 |
| Piper Sandler | Overweight | Overweight | Maintain | Oct 2, 2026 |
| UBS | Buy | Buy | Maintain | Jul 31, 2026 |
| Goldman Sachs | Buy | Buy | Maintain | Jun 30, 2026 |
| JP Morgan | Overweight | Overweight | Maintain | Oct 31, 2025 |
| Raymond James | Strong Buy | Outperform | Upgrade | Oct 13, 2025 |
| Keefe, Bruyette & Woods | Outperform | Outperform | Maintain | May 2, 2025 |
| B of A Securities | Buy | Buy | Maintain | Apr 2, 2025 |
| RBC Capital | Outperform | Outperform | Maintain | Jan 7, 2025 |
| Deutsche Bank | Hold | Hold | Maintain | Nov 11, 2024 |
| Citigroup | Buy | Buy | Maintain | Jul 9, 2024 |
| Argus Research | Buy | Buy | Maintain | May 21, 2024 |
| Rosenblatt | Buy | Buy | Maintain | May 3, 2024 |
| Jefferies | Buy | Buy | Maintain | Sep 19, 2023 |
| Atlantic Equities | Overweight | Overweight | Maintain | Aug 19, 2022 |
| Credit Suisse | Outperform | Outperform | Maintain | May 6, 2022 |
| Oppenheimer | Perform | Outperform | Downgrade | Aug 18, 2020 |
| Wells Fargo | Overweight | Overweight | Maintain | May 1, 2020 |
| Berenberg | Buy | Hold | Upgrade | Apr 20, 2020 |
| Compass Point | Buy | Buy | Maintain | Jun 22, 2018 |
| Argus | Buy | Hold | Upgrade | May 5, 2018 |
| Bernstein | Outperform | Outperform | Maintain | Apr 10, 2018 |
| Bank of America | Buy | Buy | Maintain | Feb 8, 2018 |
| Keefe Bruyette & Woods | Outperform | Outperform | Maintain | Aug 4, 2016 |
| Sterne Agee CRT | Buy | Buy | Maintain | May 20, 2016 |
| Buckingham Research | Buy | Buy | Maintain | May 19, 2016 |
| BMO Capital | Outperform | Market Perform | Upgrade | Nov 18, 2013 |
| Macquarie | Outperform | Neutral | Upgrade | May 21, 2013 |
| ISI Group | Buy | Neutral | Upgrade | Jan 30, 2013 |
| Stifel Nicolaus | Buy | Buy | Maintain | Jan 4, 2013 |
| Stifel | Buy | Buy | Maintain | Jan 4, 2013 |
| BGB Securities | Buy | Buy | Maintain | Oct 15, 2012 |
| Evercore Partners | Overweight | Overweight | Maintain | Feb 9, 2012 |
| Evercore ISI Group | Overweight | Overweight | Maintain | Feb 9, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $156.42. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Morgan Stanley | Analyst unavailable | $173 | $155.35 | +10.6% | Oct 9, 2026 |
| Barclays | Analyst unavailable | $189 | $153.49 | +20.8% | Oct 7, 2026 |
| Wells Fargo | Analyst unavailable | $159 | $151.47 | +1.6% | Oct 1, 2026 |
| Raymond James | Patrick O\'Shaughnessy | $218 | $160.7 | +39.4% | Sep 1, 2026 |
| Deutsche Bank | Brian Bedell | $178 | $154.55 | +13.8% | Jul 31, 2026 |
| Piper Sandler | Patrick Moley | $190 | $137.61 | +21.5% | Jul 15, 2026 |
| Morgan Stanley | Analyst unavailable | $163 | $135.76 | +4.2% | Jul 10, 2026 |
| Barclays | Analyst unavailable | $180 | $133.08 | +15.1% | Jul 9, 2026 |
| UBS | Alex Kramm | $190 | $137.57 | +21.5% | Jul 7, 2026 |
| Raymond James | Analyst unavailable | $208 | $135.26 | +33.0% | Jul 6, 2026 |
| Goldman Sachs | Analyst unavailable | $180 | $122.91 | +15.1% | Jun 30, 2026 |
| Redburn Partners | Analyst unavailable | $177 | $140.34 | +13.2% | Jun 11, 2026 |
| UBS | Alex Kramm | $205 | $152.94 | +31.1% | May 20, 2026 |
| Piper Sandler | Analyst unavailable | $211 | $162.04 | +34.9% | Apr 15, 2026 |
| Morgan Stanley | Michael Cyprys | $187 | $158.98 | +19.5% | Apr 10, 2026 |
| Deutsche Bank | Brian Bedell | $188 | $163.71 | +20.2% | Mar 6, 2026 |
| Morgan Stanley | Analyst unavailable | $183 | $165.82 | +17.0% | Feb 10, 2026 |
| UBS | Alex Kramm | $200 | $169.5 | +27.9% | Feb 9, 2026 |
| Barclays | Analyst unavailable | $193 | $168.29 | +23.4% | Feb 6, 2026 |
| Morgan Stanley | Analyst unavailable | $180 | $173.19 | +15.1% | Jan 15, 2026 |
| Piper Sandler | Patrick Moley | $195 | $166.69 | +24.7% | Jan 14, 2026 |
| Barclays | Benjamin Budish | $182 | $161.92 | +16.4% | Jan 8, 2026 |
| UBS | Analyst unavailable | $195 | $165.04 | +24.7% | Jan 7, 2026 |
| RBC Capital | Ashish Sabadra | $180 | $166.53 | +15.1% | Jan 6, 2026 |
| Raymond James | Patrick O\'Shaughnessy | $211 | $166.5 | +34.9% | Jan 6, 2026 |
| Morgan Stanley | Analyst unavailable | $174 | $160.3 | +11.2% | Dec 22, 2025 |
| Barclays | Analyst unavailable | $183 | $148.52 | +17.0% | Oct 31, 2025 |
| Barclays | Benjamin Budish | $201 | $161.98 | +28.5% | Oct 8, 2025 |
| Morgan Stanley | Analyst unavailable | $188 | $163.82 | +20.2% | Oct 1, 2025 |
| Raymond James | Patrick O'Shaughnessy | $185 | $162.57 | +18.3% | Oct 14, 2024 |
| Bank of America Securities | Craig Siegenthaler | $175 | $160.92 | +11.9% | Oct 3, 2024 |
| RBC Capital | Ashish Sabadra | $200 | $158.62 | +27.9% | Sep 27, 2024 |
| Goldman Sachs | Alexander Blostein | $167 | $136.89 | +6.8% | Jul 1, 2024 |
| Morgan Stanley | Michael Cyprys | $142 | $136.88 | -9.2% | Apr 9, 2024 |
| Deutsche Bank | Brian Bedell | $158 | $136.7 | +1.0% | Apr 5, 2024 |
| Barclays | Benjamin Budish | $148 | $128.41 | -5.4% | Jan 8, 2024 |
| Rosenblatt Securities | Analyst unavailable | $168 | $108.33 | +7.4% | Feb 3, 2023 |
| Morgan Stanley | Analyst unavailable | $120 | $107.24 | -23.3% | Jan 11, 2023 |
| Raymond James | Analyst unavailable | $130 | $107.05 | -16.9% | Dec 6, 2022 |
| Piper Sandler | Arvind Ramnani | $84 | $93.41 | -46.3% | Oct 6, 2022 |
| UBS | Alex Kramm | $116 | $93.41 | -25.8% | Oct 6, 2022 |
| Deutsche Bank | Brian Bedell | $124 | $106.31 | -20.7% | Aug 23, 2022 |
| Atlantic Equities | Simon Clinch | $125 | $112.62 | -20.1% | Aug 19, 2022 |
| Deutsche Bank | Analyst unavailable | $131 | $109.22 | -16.3% | Aug 12, 2022 |
| Morgan Stanley | Analyst unavailable | $110 | $105.23 | -29.7% | Aug 8, 2022 |
| Morgan Stanley | Analyst unavailable | $109 | $95.31 | -30.3% | Jul 19, 2022 |
| Raymond James | Analyst unavailable | $126 | $93.81 | -19.4% | Jun 22, 2022 |
| Argus Research | Stephen Biggar | $138 | $100.86 | -11.8% | Jun 7, 2022 |
| Jefferies | Analyst unavailable | $134 | $97.61 | -14.3% | May 20, 2022 |
| Deutsche Bank | Analyst unavailable | $117 | $96.72 | -25.2% | May 19, 2022 |
| Credit Suisse | Analyst unavailable | $143 | $99.25 | -8.6% | May 6, 2022 |
| Morgan Stanley | Analyst unavailable | $134 | $100.14 | -14.3% | May 6, 2022 |
| Deutsche Bank | Analyst unavailable | $143 | $100.14 | -8.6% | May 6, 2022 |
| Raymond James | Analyst unavailable | $142 | $101.63 | -9.2% | May 6, 2022 |
| Rosenblatt Securities | Sean Horgan | $157 | $129.56 | +0.4% | Mar 10, 2022 |
| J.P. Morgan | Ken Worthington | $155 | $129.38 | -0.9% | Feb 4, 2022 |
| Jefferies | Daniel Fannon | $161 | $131.12 | +2.9% | Jan 10, 2022 |
| Compass Point | Christopher Allen | $150 | $137.72 | -4.1% | Oct 29, 2021 |
| Piper Sandler | Richard Repetto | $138 | $133 | -11.8% | Oct 26, 2021 |
| Wells Fargo | Christopher Harris | $135 | $115.69 | -13.7% | Jun 23, 2021 |
| Goldman Sachs | Alexander Blostein | $141 | $115.69 | -9.9% | Jun 23, 2021 |
| Argus Research | Stephen Biggar | $133 | $114.19 | -15.0% | May 3, 2021 |
Track every rating change on ICE the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationIntercontinental Exchange, Inc. (ICE) manages a global network of regulated financial venues, encompassing exchanges, clearing houses, and listing platforms. These operations serve diverse markets, including commodities, financial instruments, fixed income products, and equities, with a geographical footprint spanning key financial centers such as the United States, United Kingdom, European Union, Singapore, Israel, and Canada. The company's business is segmented into three core areas: Exchanges, Fixed Income and Data Services, and Mortgage Technology. Within its Exchanges segment, ICE oversees a robust network comprising 13 regulated exchanges and 6 clearing houses. These extensive marketplaces enable the listing, trading, and clearing of a wide spectrum of derivatives contracts and financial securities.…
Historical context
All ICE earningsFinancial Services peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| GS-PA The Goldman Sachs Group, Inc. | FY2026 Q3 · Calendar Q4 2026 | — | — | Goldman Sachs Q3: Financing and wealth management broaden growth |
| GS-PD The Goldman Sachs Group, Inc. | FY2026 Q3 · Calendar Q4 2026 | — | — | Goldman Sachs: Record Q3, with AI financing and wealth inflows in focus |
| GS The Goldman Sachs Group, Inc. | FY2026 Q3 · Calendar Q4 2026 | — | -0.1% | Goldman posts record Q3 as financing and wealth inflows strengthen |
| C Citigroup Inc. | FY2026 Q3 · Calendar Q4 2026 | — | -4.0% | Citi raises ROTCE outlook as Services and Wealth lead growth |
| JPM-PK JPMorgan Chase & Co. | FY2026 Q3 · Calendar Q4 2026 | — | — | JPMorgan posts strong Q3 as AI investment and 2027 risks remain |
| JPM-PD JPMorgan Chase & Co. | FY2026 Q3 · Calendar Q4 2026 | — | — | JPMorgan posts strong Q3 as deposits and fees grow; AI risks remain |
Latest beats and misses
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Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2025-01-23T00:02:36.799981+00:00
- Polygon adjusted daily market bars · 2026-10-14T00:00:45.241459+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-14T00:00:45.238783+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-14. For educational purposes only; not investment advice.