MarketAxess (NASDAQ:MKTX) Stock Price Expected to Rise, Deutsche Bank Aktiengesellschaft Analyst Says

MarketAxess (NASDAQ:MKTX) had its price objective boosted by equities research analysts at Deutsche Bank Aktiengesellschaft from $258.00 to $264.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “hold” rating on the financial services provider’s stock. Deutsche Bank Aktiengesellschaft’s price target would suggest a potential downside of 2.81% from the stock’s previous close.

A number of other equities analysts have also issued reports on the stock. Piper Sandler reiterated a “neutral” rating and set a $265.00 target price on shares of MarketAxess in a research report on Thursday, November 7th. Bank of America decreased their price objective on MarketAxess from $193.00 to $185.00 and set an “underperform” rating on the stock in a research report on Thursday, October 3rd. Citigroup boosted their target price on MarketAxess from $310.00 to $325.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. StockNews.com upgraded MarketAxess from a “sell” rating to a “hold” rating in a report on Wednesday, August 7th. Finally, UBS Group boosted their price objective on MarketAxess from $330.00 to $335.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $267.50.

MarketAxess Trading Down 1.0 %

NASDAQ:MKTX opened at $271.63 on Monday. The stock has a market capitalization of $10.24 billion, a P/E ratio of 36.81, a price-to-earnings-growth ratio of 8.55 and a beta of 1.05. MarketAxess has a 1 year low of $192.42 and a 1 year high of $297.97. The firm has a 50 day moving average of $271.74 and a 200-day moving average of $234.69.

MarketAxess (NASDAQ:MKTX) last announced its earnings results on Wednesday, November 6th. The financial services provider reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.05. The company had revenue of $206.70 million during the quarter, compared to analyst estimates of $207.17 million. MarketAxess had a return on equity of 20.93% and a net margin of 34.32%. The firm’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same period last year, the company posted $1.46 earnings per share. As a group, analysts forecast that MarketAxess will post 7.33 EPS for the current fiscal year.

MarketAxess declared that its Board of Directors has initiated a share buyback plan on Tuesday, August 6th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the financial services provider to reacquire up to 2.8% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On MarketAxess

Hedge funds have recently bought and sold shares of the company. GUARDCAP ASSET MANAGEMENT Ltd raised its position in shares of MarketAxess by 30.3% during the first quarter. GUARDCAP ASSET MANAGEMENT Ltd now owns 2,425,897 shares of the financial services provider’s stock worth $531,878,000 after purchasing an additional 564,820 shares during the period. Millennium Management LLC increased its stake in MarketAxess by 2,889.6% during the 2nd quarter. Millennium Management LLC now owns 339,261 shares of the financial services provider’s stock worth $68,032,000 after purchasing an additional 327,913 shares in the last quarter. Marshall Wace LLP raised its holdings in MarketAxess by 53.5% during the 2nd quarter. Marshall Wace LLP now owns 820,060 shares of the financial services provider’s stock worth $164,447,000 after buying an additional 285,665 shares during the period. Burgundy Asset Management Ltd. lifted its stake in MarketAxess by 120.6% in the second quarter. Burgundy Asset Management Ltd. now owns 393,073 shares of the financial services provider’s stock valued at $78,823,000 after buying an additional 214,928 shares in the last quarter. Finally, Primecap Management Co. CA boosted its holdings in shares of MarketAxess by 18.2% in the second quarter. Primecap Management Co. CA now owns 1,330,880 shares of the financial services provider’s stock valued at $266,881,000 after buying an additional 204,960 shares during the period. 99.01% of the stock is currently owned by institutional investors and hedge funds.

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.