MarketAxess Holdings Inc. (MKTX) Given Consensus Recommendation of “Buy” by Analysts
Shares of MarketAxess Holdings Inc. (NASDAQ:MKTX) have received a consensus rating of “Buy” from the eight ratings firms that are currently covering the company, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $202.86.
A number of equities analysts have recently weighed in on MKTX shares. Zacks Investment Research raised shares of MarketAxess from a “hold” rating to a “strong-buy” rating and set a $238.00 price target on the stock in a research note on Monday, January 8th. Rosenblatt Securities started coverage on shares of MarketAxess in a research note on Thursday, December 14th. They issued a “neutral” rating and a $190.00 price target on the stock. Goldman Sachs Group downgraded shares of MarketAxess from a “buy” rating to a “neutral” rating and set a $210.00 price target on the stock. in a research note on Monday, January 8th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $215.00 price target on shares of MarketAxess in a research note on Friday, December 22nd.
In related news, insider Kevin M. Mcpherson sold 5,000 shares of the company’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $176.61, for a total value of $883,050.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Stephen P. Casper sold 2,000 shares of the company’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $195.84, for a total transaction of $391,680.00. The disclosure for this sale can be found here. Insiders sold 50,225 shares of company stock valued at $8,955,630 over the last quarter. 4.02% of the stock is currently owned by corporate insiders.
MarketAxess (MKTX) opened at $203.72 on Monday. MarketAxess has a one year low of $153.95 and a one year high of $211.06. The firm has a market cap of $7,650.00, a price-to-earnings ratio of 52.37 and a beta of 0.70.
MarketAxess (NASDAQ:MKTX) last posted its quarterly earnings results on Wednesday, October 25th. The financial services provider reported $0.90 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.90. MarketAxess had a net margin of 37.67% and a return on equity of 30.12%. The business had revenue of $96.70 million for the quarter, compared to the consensus estimate of $96.35 million. During the same period in the prior year, the business posted $0.82 earnings per share. MarketAxess’s revenue for the quarter was up 7.1% compared to the same quarter last year. equities research analysts predict that MarketAxess will post 3.93 EPS for the current fiscal year.
MarketAxess announced that its Board of Directors has initiated a share buyback program on Wednesday, October 25th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.
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MarketAxess Company Profile
MarketAxess Holdings Inc operates an electronic trading platform that enables fixed-income market participants to trade corporate bonds and other types of fixed-income instruments using its trading technology. Institutional investor and broker-dealer firms are users of trading platform, accessing global liquidity in the United States corporate bonds, emerging markets and high-yield bonds, European bonds, the United States agency bonds, municipal bonds, credit default swaps and other fixed-income securities.
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