MarketAxess (NASDAQ:MKTX) PT Lowered to $225.00 at Barclays

MarketAxess (NASDAQ:MKTX) had its price target cut by equities researchers at Barclays from $236.00 to $225.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Barclays‘s price objective indicates a potential upside of 11.29% from the stock’s previous close.

Other analysts have also issued research reports about the company. Morgan Stanley lifted their target price on MarketAxess from $278.00 to $279.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. Keefe, Bruyette & Woods dropped their target price on shares of MarketAxess from $235.00 to $230.00 and set a “market perform” rating on the stock in a report on Wednesday. Piper Sandler decreased their target price on shares of 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 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. Finally, Bank of America began coverage on MarketAxess in a report on Wednesday, April 10th. They issued an “underperform” rating and a $199.00 target price on the stock. Two 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’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $249.73.

MarketAxess Stock Up 0.6 %

Shares of NASDAQ MKTX traded up $1.29 during trading on Wednesday, reaching $202.18. The company had a trading volume of 270,860 shares, compared to its average volume of 421,928. MarketAxess has a 12-month low of $198.01 and a 12-month high of $303.85. The business’s 50-day moving average is $213.24 and its 200 day moving average is $234.96. The stock has a market cap of $7.60 billion, a PE ratio of 29.38, a P/E/G ratio of 4.26 and a beta of 0.98.

MarketAxess (NASDAQ:MKTX) last issued its earnings results on Tuesday, May 7th. The financial services provider reported $1.92 earnings per share (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 analysts’ expectations of $212.99 million. MarketAxess had a net margin of 34.29% and a return on equity of 21.76%. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.96 earnings per share. On average, analysts anticipate that MarketAxess will post 7.28 earnings per share for the current year.

Insiders Place Their Bets

In other news, CRO Kevin M. Mcpherson sold 2,000 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was 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 $15,508,555.92. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.66% of the stock is currently owned by company insiders.

Institutional Trading of MarketAxess

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp boosted its stake in MarketAxess by 19.8% during the third quarter. Bank of New York Mellon Corp now owns 418,104 shares of the financial services provider’s stock valued at $89,324,000 after buying an additional 69,165 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of MarketAxess by 7.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,456 shares of the financial services provider’s stock worth $3,088,000 after purchasing an additional 954 shares during the period. Mackenzie Financial Corp increased its position in shares of MarketAxess by 2.3% during the 3rd quarter. Mackenzie Financial Corp now owns 2,851 shares of the financial services provider’s stock valued at $584,000 after purchasing an additional 65 shares during the last quarter. IFM Investors Pty Ltd raised its holdings in MarketAxess by 7.8% during the 3rd quarter. IFM Investors Pty Ltd now owns 6,901 shares of the financial services provider’s stock valued at $1,474,000 after buying an additional 500 shares during the period. Finally, Inspire Investing LLC lifted its position in MarketAxess by 18.0% in the third quarter. Inspire Investing LLC now owns 5,839 shares of the financial services provider’s stock worth $1,247,000 after buying an additional 891 shares during the last quarter. 99.01% of the stock is currently owned by 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.