MarketAxess (NASDAQ:MKTX) Rating Increased to Neutral at Compass Point

MarketAxess (NASDAQ:MKTXGet Rating) was upgraded by equities research analysts at Compass Point from a “sell” rating to a “neutral” rating in a report issued on Thursday, The Fly reports. The firm currently has a $275.00 price objective on the financial services provider’s stock. Compass Point’s target price would indicate a potential upside of 0.39% from the company’s previous close.

Several other analysts also recently weighed in on MKTX. Raymond James downgraded shares of MarketAxess from an “outperform” rating to a “market perform” rating in a research report on Wednesday, April 6th. Atlantic Securities began coverage on shares of MarketAxess in a report on Tuesday, February 8th. They set a “neutral” rating and a $380.00 target price for the company. Morgan Stanley lowered their price target on shares of MarketAxess from $402.00 to $367.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 13th. Rosenblatt Securities reduced their price objective on MarketAxess from $460.00 to $383.00 and set a “buy” rating for the company in a research note on Thursday, April 14th. Finally, StockNews.com began coverage on MarketAxess in a research note on Thursday, March 31st. They set a “hold” rating for the company. One 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 currently has an average rating of “Hold” and an average price target of $374.22.

NASDAQ MKTX opened at $273.93 on Thursday. The firm has a market cap of $10.36 billion, a PE ratio of 40.46 and a beta of 0.41. The company has a 50 day moving average price of $339.71 and a 200 day moving average price of $369.23. MarketAxess has a 52 week low of $256.26 and a 52 week high of $533.36.

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

Large investors have recently bought and sold shares of the company. Epoch Investment Partners Inc. grew its position in shares of MarketAxess by 196.2% during the 3rd quarter. Epoch Investment Partners Inc. now owns 63,284 shares of the financial services provider’s stock valued at $26,623,000 after acquiring an additional 41,921 shares during the period. US Bancorp DE boosted its holdings in MarketAxess by 2.6% in the 3rd quarter. US Bancorp DE now owns 16,717 shares of the financial services provider’s stock worth $7,033,000 after buying an additional 421 shares during the last quarter. Raymond James & Associates boosted its holdings in MarketAxess by 35.6% in the 3rd quarter. Raymond James & Associates now owns 59,496 shares of the financial services provider’s stock worth $25,029,000 after buying an additional 15,636 shares during the last quarter. Stevens Capital Management LP acquired a new stake in MarketAxess in the 4th quarter worth about $461,000. Finally, CWM LLC acquired a new stake in MarketAxess in the 4th quarter worth about $113,000. Hedge funds and other institutional investors own 98.19% of the company’s stock.

About MarketAxess (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.

Read More

The Fly logo

Analyst Recommendations for MarketAxess (NASDAQ:MKTX)

Receive News & Ratings for MarketAxess Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MarketAxess and related companies with MarketBeat.com's FREE daily email newsletter.