Rosenblatt Securities Raises MarketAxess (NASDAQ:MKTX) Price Target to $395.00

MarketAxess (NASDAQ:MKTX – Get Rating) had its price objective boosted by analysts at Rosenblatt Securities from $383.00 to $395.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. Rosenblatt Securities’ price target would indicate a potential upside of 44.20% from the stock’s current price.

Several other equities research analysts have also commented on the company. Atlantic Securities assumed coverage on MarketAxess in a research note on Tuesday, February 8th. They set a “neutral” rating and a $380.00 price target for the company. Raymond James lowered MarketAxess from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 6th. Compass Point upgraded MarketAxess from a “sell” rating to a “neutral” rating and set a $275.00 price target for the company in a research note on Thursday. Deutsche Bank Aktiengesellschaft dropped their price target on MarketAxess from $314.00 to $300.00 in a research note on Thursday. Finally, Morgan Stanley decreased their target price on MarketAxess from $402.00 to $367.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 13th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $375.56.

NASDAQ MKTX opened at $273.93 on Thursday. MarketAxess has a fifty-two week low of $256.26 and a fifty-two week high of $533.36. The stock has a market cap of $10.36 billion, a price-to-earnings ratio of 40.46 and a beta of 0.41. The business has a fifty day moving average of $339.71 and a 200-day moving average of $369.23.

MarketAxess (NASDAQ:MKTX – Get Rating) last released its earnings results on Wednesday, April 20th. The financial services provider reported $1.71 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.70 by $0.01. The firm had revenue of $186.10 million during the quarter, compared to analyst estimates of $186.34 million. MarketAxess had a return on equity of 25.12% and a net margin of 36.90%. The business’s quarterly revenue was down 4.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.11 earnings per share. As a group, analysts forecast that MarketAxess will post 7.2 EPS for the current fiscal year.

Several hedge funds have recently modified their holdings of MKTX. Riverview Trust Co boosted its stake in shares of MarketAxess by 18.8% during the 1st quarter. Riverview Trust Co now owns 272 shares of the financial services provider’s stock worth $93,000 after acquiring an additional 43 shares in the last quarter. Congress Asset Management Co. MA boosted its stake in shares of MarketAxess by 30.6% during the 1st quarter. Congress Asset Management Co. MA now owns 4,350 shares of the financial services provider’s stock worth $1,480,000 after acquiring an additional 1,018 shares in the last quarter. Xponance Inc. boosted its stake in shares of MarketAxess by 3.2% during the 1st quarter. Xponance Inc. now owns 6,534 shares of the financial services provider’s stock worth $2,223,000 after acquiring an additional 200 shares in the last quarter. Fifth Third Bancorp boosted its stake in shares of MarketAxess by 9.3% during the 1st quarter. Fifth Third Bancorp now owns 5,728 shares of the financial services provider’s stock worth $1,949,000 after acquiring an additional 487 shares in the last quarter. Finally, Hixon Zuercher LLC boosted its stake in shares of MarketAxess by 10.9% during the 1st quarter. Hixon Zuercher LLC now owns 4,666 shares of the financial services provider’s stock worth $1,587,000 after acquiring an additional 457 shares in the last quarter. 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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