
MIAX Stock Forecast & Price Target
MIAX Analyst Ratings
Bulls say
Miami International Hldgs is supported by a core options franchise that keeps taking share, with MIAX market share rising to 17.4% in 3Q26 and ADV of 11.1M contracts growing 1% q/q despite a 4% market contraction. Its platform is also proving highly scalable, as adjusted net revenue reached $141.1M and adjusted EBITDA hit $76.8M in 2Q26, with margins expanding to 54% from 47% last year on stronger monetization and controlled opex. The outlook remains constructive because the company is still growing across equities, futures, and international listings, while the stock appears inexpensive at less than 10x 2027 consensus Adjusted EBITDA and management has optionality to participate in new perp products rather than simply lose to them.
Bears say
Miami International Hldgs is facing a negative setup because its shares underperformed in September, falling 21% versus a -9% peer average, while investor concern is building around alternative products like perpetual futures, revenue capture after August’s market share spike, and broader macro pressure. Despite faster earnings growth, the stock trades at just 8x the 2027 Adjusted EBITDA estimate versus a 14.6x peer average, reflecting skepticism that its recent volume gains can translate into durable pricing power. Fundamentally, Options ADV rose 25.3% Y/Y to 11.0M contracts, but share still slipped to 16.5%, Futures revenue was flat at $5.1M with a wider $(9.5)M adjusted EBITDA loss, and a $30.0M Nasdaq settlement underscores elevated cost and litigation noise.
This aggregate rating is based on analysts' research of Miami International Holdings Inc and is not a guaranteed prediction by Public.com or investment advice.
MIAX Analyst Forecast & Price Prediction
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