UBS Group Lowers MarketAxess (NASDAQ:MKTX) Price Target to $285.00

MarketAxess (NASDAQ:MKTX) had its target price decreased by stock analysts at UBS Group from $305.00 to $285.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. UBS Group’s price target would indicate a potential upside of 39.15% from the stock’s current price.

Several other research analysts also recently commented on MKTX. The Goldman Sachs Group decreased their price target on shares of MarketAxess from $263.00 to $225.00 and set a “neutral” rating on the stock in a research note on Thursday, February 1st. William Blair reaffirmed an “outperform” rating on shares of MarketAxess in a research note on Tuesday, January 23rd. Barclays lowered their target price on MarketAxess from $239.00 to $236.00 and set an “equal weight” rating for the company in a research note on Monday, April 8th. Rosenblatt Securities dropped their target price on MarketAxess from $229.00 to $210.00 and set a “sell” rating for the company in a report on Thursday, February 1st. Finally, Piper Sandler decreased their price target on MarketAxess from $250.00 to $237.00 and set a “neutral” rating on the stock in a research note on Friday, April 12th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, MarketAxess currently has a consensus rating of “Hold” and a consensus target price of $249.73.

MarketAxess Stock Performance

Shares of MKTX stock opened at $204.82 on Wednesday. MarketAxess has a 52-week low of $198.01 and a 52-week high of $303.85. The business’s fifty day moving average is $212.86 and its 200 day moving average is $234.52. The company has a market capitalization of $7.70 billion, a PE ratio of 29.90, a price-to-earnings-growth ratio of 4.26 and a beta of 0.98.

MarketAxess (NASDAQ:MKTX) last announced its earnings results on Tuesday, May 7th. The financial services provider reported $1.92 earnings per share (EPS) for the quarter, beating 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 business had revenue of $210.30 million during the quarter, compared to analyst estimates of $212.99 million. During the same period in the previous year, the business posted $1.96 earnings per share. MarketAxess’s revenue for the quarter was up 3.5% on a year-over-year basis. On average, sell-side analysts forecast that MarketAxess will post 7.28 EPS for the current fiscal year.

Insider Activity at MarketAxess

In other news, CRO Kevin M. Mcpherson sold 2,000 shares of MarketAxess stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $221.26, for a total transaction of $442,520.00. Following the transaction, the executive now directly owns 70,092 shares of the company’s stock, valued at approximately $15,508,555.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.66% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MKTX. Vanguard Group Inc. lifted its stake in MarketAxess by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 4,526,422 shares of the financial services provider’s stock worth $1,325,563,000 after purchasing an additional 34,197 shares in the last quarter. Royal Bank of Canada lifted its position in shares of MarketAxess by 2.0% in the third quarter. Royal Bank of Canada now owns 1,705,958 shares of the financial services provider’s stock worth $364,462,000 after buying an additional 33,288 shares in the last quarter. Van ECK Associates Corp grew its holdings in MarketAxess by 21.2% during the 1st quarter. Van ECK Associates Corp now owns 1,657,960 shares of the financial services provider’s stock valued at $363,508,000 after buying an additional 290,347 shares in the last quarter. Primecap Management Co. CA increased its stake in MarketAxess by 0.4% in the 4th quarter. Primecap Management Co. CA now owns 1,122,560 shares of the financial services provider’s stock worth $328,742,000 after acquiring an additional 4,340 shares during the last quarter. Finally, Wasatch Advisors LP raised its holdings in shares of MarketAxess by 40.0% during 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 in the last quarter. 99.01% of the stock is currently owned by institutional investors.

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.