ICE

Zacks analyzes five securities exchange stocks amid industry headwinds. While diversified revenue streams, higher trading volumes, and technology investments support growth, the Securities and Exchanges industry faces challenges from regulatory changes, cybersecurity threats, and competition.

The industry ranks #166 out of 247 Zacks industries with negative earnings outlook, having underperformed the S&P 500 year-to-date. Five Hold-rated stocks are highlighted for consideration.

Intercontinental Exchange (ICE) demonstrated resilience in Q2 2026 with 3% exchange revenue growth to $1.46 billion, driven by strong performance in financials (+21%), equities (+15%), and data services (+12%), offsetting a 13% decline in energy revenues. The company's shift toward recurring revenues (up 10%) and diversified asset classes positions it well for sustained growth beyond volatility spikes. Peers CME Group and Cboe Global Markets also show strong positioning with record open interest and broad product diversification.

In a comparison of two major exchange operators, Intercontinental Exchange (ICE) appears better positioned for long-term growth than Coinbase (COIN). ICE projects 10.7% revenue growth and 16.8% EPS growth for 2026, supported by its diversified portfolio across exchanges, data, and clearing services.

Coinbase, while expanding its crypto offerings and derivatives capabilities, faces headwinds from cryptocurrency price sensitivity and declining 2026 estimates. Both stocks carry a Zacks Rank #3 (Hold) rating, but ICE's valuation and growth trajectory give it an edge.