MarketAxess Holdings Inc. (NASDAQ:MKTX) Receives Consensus Rating of “Hold” from Brokerages

Shares of MarketAxess Holdings Inc. (NASDAQ:MKTX) have received a consensus recommendation of “Hold” from the thirteen analysts that are presently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $201.6364.

A number of research firms have recently commented on MKTX. Wall Street Zen lowered shares of MarketAxess from a “hold” rating to a “sell” rating in a research note on Saturday, January 17th. Piper Sandler cut their price target on shares of MarketAxess from $180.00 to $175.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 14th. Zacks Research upgraded MarketAxess from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 18th. UBS Group lowered their price objective on MarketAxess from $240.00 to $225.00 and set a “buy” rating for the company in a research report on Friday, January 9th. Finally, Barclays cut their target price on MarketAxess from $188.00 to $182.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 8th.

MarketAxess Trading Up 0.0%

NASDAQ MKTX opened at $168.61 on Friday. The firm has a market capitalization of $6.27 billion, a PE ratio of 28.68, a price-to-earnings-growth ratio of 4.26 and a beta of 0.97. The business’s 50-day moving average price is $173.32 and its two-hundred day moving average price is $179.59. MarketAxess has a 12 month low of $156.17 and a 12 month high of $232.84.

MarketAxess (NASDAQ:MKTX) last posted its quarterly earnings data on Friday, November 7th. The financial services provider reported $1.84 EPS for the quarter, topping analysts’ consensus estimates of $1.69 by $0.15. The company had revenue of $208.82 million for the quarter, compared to analyst estimates of $212.59 million. MarketAxess had a return on equity of 20.20% and a net margin of 26.16%.The firm’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.90 earnings per share. As a group, analysts forecast that MarketAxess will post 7.79 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Primecap Management Co. CA grew its holdings in MarketAxess by 66.6% in the third quarter. Primecap Management Co. CA now owns 2,230,595 shares of the financial services provider’s stock worth $388,681,000 after purchasing an additional 891,303 shares during the period. AQR Capital Management LLC boosted its position in shares of MarketAxess by 485.6% during the 2nd quarter. AQR Capital Management LLC now owns 758,462 shares of the financial services provider’s stock worth $167,195,000 after purchasing an additional 628,954 shares in the last quarter. Norges Bank acquired a new stake in shares of MarketAxess in the 2nd quarter valued at about $114,593,000. North Reef Capital Management LP grew its stake in shares of MarketAxess by 117.0% in the 3rd quarter. North Reef Capital Management LP now owns 911,358 shares of the financial services provider’s stock valued at $158,804,000 after buying an additional 491,358 shares during the period. Finally, BNP Paribas Financial Markets increased its position in MarketAxess by 469.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 486,106 shares of the financial services provider’s stock valued at $84,704,000 after buying an additional 400,691 shares in the last quarter. Institutional investors and hedge funds own 99.01% of the company’s stock.

About MarketAxess

MarketAxess Holdings Inc operates a leading global electronic trading platform specializing in fixed-income securities and related products. The company’s network enables institutional investors and broker-dealers to trade corporate bonds, municipal securities, emerging markets debt, U.S. Treasuries and credit default swaps in an automated, multi-dealer environment. MarketAxess also offers portfolio trading, data analytics, best-execution tools and post-trade services to streamline workflows and enhance price discovery across its marketplace.

In addition to core voice-like trading protocols, MarketAxess provides Open Trading®, an anonymous, all-to-all trading protocol designed to improve liquidity and transaction efficiency.