BGC Group (BGC) Gets a Buy from Piper Sandler

Piper Sandler analyst Patrick Moley maintained a Buy rating on BGC Group today and set a price target of $14.00. The company’s shares closed yesterday at $9.07.

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Moley covers the Financial sector, focusing on stocks such as Robinhood, Cboe Global Markets, and CME Group. According to TipRanks, Moley has an average return of 55.3% and a 79.05% success rate on recommended stocks.

Currently, the analyst consensus on BGC Group is a Strong Buy with an average price target of $13.33, implying a 46.97% upside from current levels. In a report released on October 1, Bank of America Securities also maintained a Buy rating on the stock with a $15.00 price target.

BGC market cap is currently $4.3B and has a P/E ratio of 29.21.

Based on the recent corporate insider activity of 19 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of BGC in relation to earlier this year. Earlier this month, Fitzgerald Cantor, a Director at BGC bought 8,973,721.00 shares for a total of $82,558,233.20.