Cboe Global Markets (NASDAQ:CBOE) reported its Q1 earnings results, with EPS coming in at $1.73, beating the consensus estimate of $1.68. Revenue was $418 million, compared to the consensus of $413.96 million.

Oppenheimer analysts shared their views on the company following the quarterly report, highlighting the strength of the company’s Data and Access Solutions that continued during the quarter. The organic growth rate of 12% exceeded the medium-term outlook, and management raised its full 2022-year guidance to 8-11%.

The analysts believe there's a potential upside to the revised target given (1) expanded distribution channel in Europe/Asia Pacific/Canada as the company can sell their U.S. data, on top of local data, to international clients, and (2) increased wallet share and new customers, when the company expanded globally.

The analysts raised their price target on the company’s shares to $147 from $145, while maintaining their outperform rating.