MarketAxess (NASDAQ:MKTX) PT Lowered to $230.00

MarketAxess (NASDAQ:MKTX) had its target price lowered by equities researchers at Keefe, Bruyette & Woods from $235.00 to $230.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 14.14% from the company’s current price.

MKTX has been the topic of several other research reports. Bank of America assumed coverage on MarketAxess in a report on Wednesday, April 10th. They set an “underperform” rating and a $199.00 price objective on the stock. The Goldman Sachs Group dropped their price target on MarketAxess from $263.00 to $225.00 and set a “neutral” rating on the stock in a research note on Thursday, February 1st. Rosenblatt Securities cut 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. Piper Sandler decreased their price objective on MarketAxess from $250.00 to $237.00 and set a “neutral” rating for the company in a report on Friday, April 12th. Finally, William Blair reiterated an “outperform” rating on shares of MarketAxess in a research note on Tuesday, January 23rd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, MarketAxess has a consensus rating of “Hold” and a consensus price target of $250.73.

MarketAxess Price Performance

NASDAQ MKTX traded up $0.61 during trading on Wednesday, reaching $201.50. 26,643 shares of the company’s stock were exchanged, compared to its average volume of 419,266. MarketAxess has a fifty-two week low of $198.01 and a fifty-two week high of $303.85. The business has a 50 day moving average price of $213.24 and a 200-day moving average price of $234.96. The stock has a market capitalization of $7.58 billion, a P/E ratio of 29.42, a PEG ratio of 4.26 and a beta of 0.98.

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

Insider Buying and Selling at MarketAxess

In other MarketAxess news, CRO Kevin M. Mcpherson sold 2,000 shares of the business’s stock in a transaction on Friday, February 16th. The shares were 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.66% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in MarketAxess by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 4,526,422 shares of the financial services provider’s stock worth $1,325,563,000 after acquiring an additional 34,197 shares in the last quarter. Royal Bank of Canada raised its stake in MarketAxess by 2.0% in the third quarter. Royal Bank of Canada now owns 1,705,958 shares of the financial services provider’s stock worth $364,462,000 after buying an additional 33,288 shares in the last quarter. Van ECK Associates Corp raised its stake in MarketAxess by 21.2% in the first quarter. Van ECK Associates Corp now owns 1,657,960 shares of the financial services provider’s stock worth $363,508,000 after buying an additional 290,347 shares in the last quarter. Primecap Management Co. CA raised its stake in MarketAxess by 0.4% in the fourth quarter. Primecap Management Co. CA now owns 1,122,560 shares of the financial services provider’s stock worth $328,742,000 after buying an additional 4,340 shares in the last quarter. Finally, Wasatch Advisors LP raised its stake in MarketAxess by 40.0% in the first quarter. Wasatch Advisors LP now owns 716,689 shares of the financial services provider’s stock worth $157,134,000 after buying an additional 204,660 shares in the last quarter. Institutional investors own 99.01% of the company’s stock.

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.