LPL Financial Holdings Inc (NASDAQ:LPLA) on Thursday reported better-than-expected second-quarter financial results.

LPL Finl reported quarterly earnings of $5.60 per share which beat the analyst consensus estimate of $5.40 per share. The company reported quarterly sales of $5.186 billion which beat the analyst consensus estimate of $4.995 billion.

“After an outstanding start to the year, we continued our momentum in the second quarter, delivering another quarter of strong performance and results,” said Rich Steinmeier, CEO. “We remain focused on our strategic priorities, and are on track to onboard Commonwealth later this year. Underscoring the exceptional work and dedication of our teams, JD Power recognized both Commonwealth and LPL as the top-ranked firms for independent advisor satisfaction. This is a reflection of the complementary cultures we’re bringing together and the unparalleled value we deliver to advisors and their clients.”

LPL Financial shares gained 4.6% to $355.00 in pre-market trading.

These analysts made changes to their price targets on LPL Financial following earnings announcement.

  • Keefe, Bruyette & Woods analyst Chris Allen maintained the stock with an Outperform rating and raised the price target from $365 to $390.
  • Barclays analyst Benjamin Budish maintained the stock with an Overweight rating and raised the price target from $394 to $401.

Considering buying LPLA stock? Here’s what analysts think:

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