Keefe, Bruyette & Woods Lowers MarketAxess (NASDAQ:MKTX) Price Target to $230.00

MarketAxess (NASDAQ:MKTX) had its price objective dropped by equities research analysts at Keefe, Bruyette & Woods from $235.00 to $230.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price would suggest a potential upside of 12.29% from the stock’s current price.

A number of other analysts have also commented on the company. Piper Sandler reduced their target price on MarketAxess from $250.00 to $237.00 and set a “neutral” rating for the company in a report on Friday, April 12th. William Blair reissued an “outperform” rating on shares of MarketAxess in a research report on Tuesday, January 23rd. Morgan Stanley raised their price target on shares of MarketAxess from $278.00 to $279.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. Rosenblatt Securities decreased their price objective on shares of MarketAxess from $229.00 to $210.00 and set a “sell” rating for the company in a report on Thursday, February 1st. Finally, Barclays lowered their price objective on shares of MarketAxess from $239.00 to $236.00 and set an “equal weight” rating on the stock in a research report on Monday, April 8th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $249.73.

MarketAxess Trading Up 1.3 %

NASDAQ MKTX opened at $204.82 on Wednesday. MarketAxess has a 12 month low of $198.01 and a 12 month high of $303.85. The stock’s fifty day moving average price is $212.86 and its 200-day moving average price is $234.52. The stock has a market cap of $7.70 billion, a P/E ratio of 29.90, 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. MarketAxess had a net margin of 34.29% and a return on equity of 21.76%. The firm had revenue of $210.30 million for the quarter, compared to the consensus estimate of $212.99 million. During the same quarter in the prior year, the firm posted $1.96 earnings per share. The business’s revenue was up 3.5% on a year-over-year basis. As a group, analysts forecast that MarketAxess will post 7.28 earnings per share for the current fiscal year.

Insider Buying and Selling at MarketAxess

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. Insiders own 2.66% of the company’s stock.

Hedge Funds Weigh In On MarketAxess

Hedge funds and other institutional investors have recently modified their holdings of the stock. Van ECK Associates Corp boosted its holdings in shares of MarketAxess by 146.4% during the 3rd quarter. Van ECK Associates Corp now owns 1,265,784 shares of the financial services provider’s stock valued at $270,422,000 after purchasing an additional 752,111 shares during the last quarter. Norges Bank purchased a new position in MarketAxess during the 4th quarter valued at approximately $128,535,000. FMR LLC grew its holdings in MarketAxess by 385.6% during the 3rd quarter. FMR LLC now owns 545,563 shares of the financial services provider’s stock valued at $116,554,000 after buying an additional 433,217 shares in the last quarter. Wasatch Advisors LP increased its stake in MarketAxess by 40.0% in the 1st quarter. Wasatch Advisors LP now owns 716,689 shares of the financial services provider’s stock worth $157,134,000 after acquiring an additional 204,660 shares during the last quarter. Finally, Balyasny Asset Management L.P. raised its holdings in shares of MarketAxess by 7,385.0% during the 4th quarter. Balyasny Asset Management L.P. now owns 159,580 shares of the financial services provider’s stock worth $46,733,000 after acquiring an additional 157,448 shares in the last quarter. Institutional investors own 99.01% of the company’s stock.

MarketAxess Company Profile

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.