MarketAxess (NASDAQ:MKTX) Given New $325.00 Price Target at Keefe, Bruyette & Woods

MarketAxess (NASDAQ:MKTXGet Rating) had its target price increased by Keefe, Bruyette & Woods from $282.00 to $325.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective indicates a potential downside of 1.22% from the company’s current price.

Several other analysts have also commented on the stock. Deutsche Bank Aktiengesellschaft increased their price target on shares of MarketAxess from $265.00 to $340.00 in a research report on Wednesday. Credit Suisse Group increased their price objective on shares of MarketAxess from $284.00 to $294.00 and gave the company a “neutral” rating in a research report on Wednesday, December 7th. Morgan Stanley increased their price objective on shares of MarketAxess from $274.00 to $314.00 and gave the company an “equal weight” rating in a research report on Wednesday. Piper Sandler reduced their price target on shares of MarketAxess from $285.00 to $270.00 and set a “neutral” rating for the company in a research report on Wednesday, October 5th. Finally, Rosenblatt Securities raised their price target on shares of MarketAxess from $213.00 to $214.00 and gave the stock a “sell” rating in a research report on Thursday, October 20th. One analyst has rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $298.20.

MarketAxess Stock Up 1.7 %

Shares of MKTX opened at $329.02 on Thursday. MarketAxess has a 52 week low of $217.44 and a 52 week high of $390.13. The business has a 50-day simple moving average of $278.24 and a two-hundred day simple moving average of $260.76. The stock has a market cap of $12.38 billion, a price-to-earnings ratio of 51.09 and a beta of 0.64.

MarketAxess (NASDAQ:MKTXGet Rating) last posted its quarterly earnings data on Wednesday, October 19th. The financial services provider reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.09. MarketAxess had a return on equity of 23.89% and a net margin of 34.47%. The business had revenue of $172.10 million during the quarter, compared to analyst estimates of $172.41 million. During the same period last year, the company earned $1.52 EPS. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. On average, equities analysts anticipate that MarketAxess will post 6.59 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MarketAxess

A number of hedge funds have recently made changes to their positions in MKTX. Assenagon Asset Management S.A. purchased a new position in MarketAxess in the 2nd quarter valued at approximately $367,000. Robeco Institutional Asset Management B.V. raised its stake in MarketAxess by 142.4% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 2,288 shares of the financial services provider’s stock worth $586,000 after acquiring an additional 1,344 shares in the last quarter. UMB Bank n.a. raised its stake in MarketAxess by 24.7% during the 2nd quarter. UMB Bank n.a. now owns 3,968 shares of the financial services provider’s stock worth $1,016,000 after acquiring an additional 787 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in MarketAxess by 12.0% during the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 21,706 shares of the financial services provider’s stock worth $5,557,000 after acquiring an additional 2,328 shares in the last quarter. Finally, Tandem Investment Advisors Inc. raised its stake in MarketAxess by 41.8% during the 2nd quarter. Tandem Investment Advisors Inc. now owns 150,861 shares of the financial services provider’s stock worth $38,622,000 after acquiring an additional 44,505 shares in the last quarter. Hedge funds and other institutional investors own 96.78% of the company’s stock.

About MarketAxess

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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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