MarketAxess (MKTX) to Release Quarterly Earnings on Tuesday

MarketAxess (NASDAQ:MKTX) is set to release its earnings data before the market opens on Tuesday, May 7th. Analysts expect MarketAxess to post earnings of $1.85 per share for the quarter. Persons that wish to register for the company’s earnings conference call can do so using this link.

MarketAxess (NASDAQ:MKTX) last announced its quarterly earnings data on Wednesday, January 31st. The financial services provider reported $1.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.73 by $0.11. MarketAxess had a net margin of 34.29% and a return on equity of 21.76%. The company had revenue of $197.20 million during the quarter, compared to analysts’ expectations of $196.70 million. During the same quarter in the prior year, the company posted $1.58 EPS. The business’s revenue was up 10.8% on a year-over-year basis. On average, analysts expect MarketAxess to post $7 EPS for the current fiscal year and $8 EPS for the next fiscal year.

MarketAxess Stock Down 2.5 %

NASDAQ:MKTX opened at $203.82 on Friday. The firm has a market capitalization of $7.66 billion, a PE ratio of 29.75, a price-to-earnings-growth ratio of 4.37 and a beta of 0.98. MarketAxess has a 12-month low of $199.33 and a 12-month high of $303.85. The firm has a 50-day moving average price of $213.67 and a 200 day moving average price of $235.41.

Insider Buying and Selling at MarketAxess

In related news, CRO Kevin M. Mcpherson sold 2,000 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $221.26, for a total transaction of $442,520.00. Following the sale, the executive now owns 70,092 shares of the company’s stock, valued at approximately $15,508,555.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Piper Sandler lowered their target price on MarketAxess from $250.00 to $237.00 and set a “neutral” rating for the company in a research note on Friday, April 12th. The Goldman Sachs Group reduced their target price on shares of MarketAxess from $263.00 to $225.00 and set a “neutral” rating on the stock in a research report on Thursday, February 1st. Rosenblatt Securities lowered their price target on shares of MarketAxess from $229.00 to $210.00 and set a “sell” rating for the company in a report on Thursday, February 1st. Morgan Stanley upped their price objective on MarketAxess from $278.00 to $279.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. Finally, Barclays decreased their price objective on MarketAxess from $239.00 to $236.00 and set an “equal weight” rating on the stock in a research report on Monday, April 8th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $252.80.

About MarketAxess

MarketAxess Holdings Inc, together with its subsidiaries, operates an electronic trading platform for institutional investor and broker-dealer companies worldwide. The company offers trading technology that provides liquidity access in U.S. high-grade bonds, U.S. high-yield bonds, emerging market debt, eurobonds, municipal bonds, U.S.