Atlanta-based Intercontinental Exchange, Inc. (ICE) engages in the provision of market infrastructure, data services, and technology solutions for institutions, corporations, and government entities. With a market cap of $90.9 billion, ICE operates through Exchanges, Fixed Income and Data Services, and Mortgage Technology segments.

The financial giant is gearing up to announce its third-quarter earnings before the markets open on Thursday, Oct. 30. Ahead of the event, analysts expect ICE to report an adjusted EPS of $1.64, up 5.8% from $1.55 reported in the year-ago quarter. Moreover, the company has a robust earnings surprise history. It has met or surpassed the Street’s bottom-line estimates in each of the past four quarters.

For the full fiscal 2025, ICE is expected to report an adjusted EPS of $6.87, up 13.2% from $6.07 reported in 2024. While in fiscal 2026, its earnings are expected to further surge 10.8% year-over-year to $7.61 per share.

ICE stock prices have dipped 3.7% over the past 52 weeks, notably underperforming the Financial Select Sector SPDR Fund’s (XLF) 13.8% gains and the S&P 500 Index’s ($SPX) 13.4% returns during the same time frame.

Despite delivering better-than-expected financials, Intercontinental Exchange’s stock prices observed a marginal dip in the trading session following the release of its Q2 results on Jul. 31. The company’s total revenues for the quarter increased 12.6% year-over-year to $3.3 billion. Meanwhile, its revenues net of transaction expenses surged 9.8% year-over-year to a record $2.5 billion, surpassing the Street’s expectations. Further, its adjusted net income grew by an impressive 19.1% year-over-year to more than $1 billion, and its adjusted EPS of $1.81 surpassed the consensus estimates by 2.3%.

The drop can be attributed to the broader market downturn observed during the trading session, due to tensions over tariff changes.

Analysts remain highly optimistic about the stock’s prospects. ICE maintains a consensus “Strong Buy” rating overall. Of the 19 analysts covering the stock, opinions include 13 “Strong Buys,” two “Moderate Buys,” and four “Holds.” Its mean price target of $202.82 suggests a 28.1% upside potential from current price levels.