MarketAxess (NASDAQ:MKTX) PT Lowered to $361.00 at Morgan Stanley

MarketAxess (NASDAQ:MKTXGet Rating) had its price objective cut by stock analysts at Morgan Stanley from $367.00 to $361.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s price target would suggest a potential upside of 31.79% from the company’s previous close.

A number of other research firms also recently weighed in on MKTX. Rosenblatt Securities upped their price target on shares of MarketAxess from $383.00 to $395.00 and gave the stock a “buy” rating in a research note on Thursday. Raymond James downgraded shares of MarketAxess from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 6th. Atlantic Securities initiated coverage on shares of MarketAxess in a research note on Tuesday, February 8th. They issued a “neutral” rating and a $380.00 price target on the stock. Credit Suisse Group lowered their target price on shares of MarketAxess from $412.00 to $372.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 6th. Finally, Zacks Investment Research downgraded shares of MarketAxess from a “hold” rating to a “sell” rating and set a $345.00 target price on the stock. in a research report on Friday, January 28th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, MarketAxess has a consensus rating of “Hold” and a consensus target price of $374.89.

Shares of NASDAQ:MKTX opened at $273.93 on Thursday. The company’s fifty day moving average is $339.71 and its two-hundred day moving average is $369.23. MarketAxess has a 12-month low of $256.26 and a 12-month high of $533.36. The company has a market cap of $10.36 billion, a P/E ratio of 40.46 and a beta of 0.41.

MarketAxess (NASDAQ:MKTXGet Rating) last posted its quarterly earnings results on Wednesday, April 20th. The financial services provider reported $1.71 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.70 by $0.01. MarketAxess had a net margin of 36.90% and a return on equity of 25.12%. The business had revenue of $186.10 million for the quarter, compared to the consensus estimate of $186.34 million. During the same period in the prior year, the business posted $2.11 earnings per share. MarketAxess’s revenue for the quarter was down 4.8% compared to the same quarter last year. Analysts expect that MarketAxess will post 7.2 EPS for the current year.

A number of hedge funds have recently added to or reduced their stakes in the business. Epoch Investment Partners Inc. lifted its stake in shares of MarketAxess by 196.2% in the third quarter. Epoch Investment Partners Inc. now owns 63,284 shares of the financial services provider’s stock valued at $26,623,000 after buying an additional 41,921 shares during the period. US Bancorp DE lifted its stake in shares of MarketAxess by 2.6% in the third quarter. US Bancorp DE now owns 16,717 shares of the financial services provider’s stock valued at $7,033,000 after buying an additional 421 shares during the period. Raymond James & Associates lifted its stake in shares of MarketAxess by 35.6% in the third quarter. Raymond James & Associates now owns 59,496 shares of the financial services provider’s stock valued at $25,029,000 after buying an additional 15,636 shares during the period. Stevens Capital Management LP bought a new stake in shares of MarketAxess in the fourth quarter valued at about $461,000. Finally, CWM LLC bought a new stake in shares of MarketAxess in the fourth quarter valued at about $113,000. Institutional investors own 98.19% of the company’s stock.

MarketAxess Company Profile (Get Rating)

MarketAxess Holdings Inc, together with its subsidiaries, operates an electronic trading platform for institutional investor and broker-dealer companies worldwide. It offers the access to liquidity in the U.S. investment-grade bonds, U.S. high-yield bonds, and U.S. Treasuries, as well as municipal bonds, emerging market debts, Eurobonds, and other fixed income securities.

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Analyst Recommendations for MarketAxess (NASDAQ:MKTX)

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