MarketAxess (NASDAQ:MKTX) PT Lowered to $230.00 at Keefe, Bruyette & Woods

MarketAxess (NASDAQ:MKTX) had its price target reduced by equities researchers at Keefe, Bruyette & Woods from $235.00 to $230.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price points to a potential upside of 12.29% from the stock’s current price.

Several other brokerages have also commented on MKTX. Morgan Stanley raised their price target on shares of MarketAxess from $278.00 to $279.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. Bank of America began coverage on MarketAxess in a research report on Wednesday, April 10th. They issued an “underperform” rating and a $199.00 target price on the stock. Barclays reduced their price target on MarketAxess from $239.00 to $236.00 and set an “equal weight” rating for the company in a research report on Monday, April 8th. Rosenblatt Securities lowered their price target on MarketAxess from $229.00 to $210.00 and set a “sell” rating on the stock in a report on Thursday, February 1st. Finally, Piper Sandler reduced their price objective on shares of MarketAxess from $250.00 to $237.00 and set a “neutral” rating for the company in a report on Friday, April 12th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $249.73.

MarketAxess Trading Up 1.3 %

Shares of MarketAxess stock opened at $204.82 on Wednesday. The stock has a market capitalization of $7.70 billion, a price-to-earnings ratio of 29.90, a PEG ratio of 4.26 and a beta of 0.98. MarketAxess has a twelve month low of $198.01 and a twelve month high of $303.85. The business’s 50 day simple moving average is $212.86 and its 200-day simple moving average is $234.52.

MarketAxess (NASDAQ:MKTX) last released its quarterly earnings results on Tuesday, May 7th. The financial services provider reported $1.92 EPS for the quarter, topping the consensus estimate of $1.85 by $0.07. The business had revenue of $210.30 million during the quarter, compared to analyst estimates of $212.99 million. MarketAxess had a net margin of 34.29% and a return on equity of 21.76%. The company’s quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.96 earnings per share. Sell-side analysts predict that MarketAxess will post 7.28 earnings per share for the current year.

Insider Activity

In related news, CRO Kevin M. Mcpherson sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $221.26, for a total value of $442,520.00. Following the completion of the transaction, the executive now owns 70,092 shares of the company’s stock, valued at approximately $15,508,555.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.66% of the stock is owned by company insiders.

Institutional Investors Weigh In On MarketAxess

Hedge funds have recently bought and sold shares of the business. Allworth Financial LP lifted its position in shares of MarketAxess by 347.6% in the fourth quarter. Allworth Financial LP now owns 94 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 73 shares in the last quarter. Gladius Capital Management LP lifted its position in MarketAxess by 39.6% in the 3rd quarter. Gladius Capital Management LP now owns 134 shares of the financial services provider’s stock worth $29,000 after buying an additional 38 shares in the last quarter. Venturi Wealth Management LLC lifted its position in MarketAxess by 1,030.8% in the 1st quarter. Venturi Wealth Management LLC now owns 147 shares of the financial services provider’s stock worth $32,000 after buying an additional 134 shares in the last quarter. Parallel Advisors LLC boosted its stake in shares of MarketAxess by 155.8% during the 4th quarter. Parallel Advisors LLC now owns 110 shares of the financial services provider’s stock valued at $32,000 after buying an additional 67 shares during the period. Finally, Massmutual Trust Co. FSB ADV grew its holdings in shares of MarketAxess by 47.3% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 134 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 43 shares in the last quarter. 99.01% of the stock is owned by hedge funds and other institutional investors.

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.