MarketAxess (NASDAQ:MKTX) Upgraded at Wall Street Zen

MarketAxess (NASDAQ:MKTX) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Saturday.

Other research analysts have also issued reports about the company. Morgan Stanley lifted their target price on MarketAxess from $263.00 to $283.00 and gave the stock an “overweight” rating in a report on Thursday, May 8th. Citigroup increased their price target on MarketAxess from $250.00 to $265.00 and gave the company a “buy” rating in a research report on Thursday, May 8th. Keefe, Bruyette & Woods increased their price target on MarketAxess from $223.00 to $226.00 and gave the company a “market perform” rating in a research report on Thursday, May 8th. Piper Sandler decreased their price target on MarketAxess from $213.00 to $202.00 and set a “neutral” rating for the company in a research report on Thursday, May 8th. Finally, William Blair started coverage on MarketAxess in a research report on Friday, April 4th. They issued an “outperform” rating for the company. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $241.44.

MarketAxess Stock Down 1.3%

NASDAQ:MKTX opened at $216.05 on Friday. The business’s 50-day moving average price is $220.66 and its 200 day moving average price is $215.73. The firm has a market cap of $8.10 billion, a P/E ratio of 37.57, a PEG ratio of 2.84 and a beta of 0.85. MarketAxess has a 52-week low of $186.84 and a 52-week high of $296.68.

MarketAxess (NASDAQ:MKTX) last released its earnings results on Wednesday, May 7th. The financial services provider reported $1.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.82 by $0.05. The firm had revenue of $208.58 million for the quarter, compared to analyst estimates of $211.81 million. MarketAxess had a return on equity of 19.93% and a net margin of 26.57%. MarketAxess’s revenue was down .8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.92 earnings per share. Sell-side analysts expect that MarketAxess will post 7.79 EPS for the current year.

Institutional Investors Weigh In On MarketAxess

Institutional investors have recently bought and sold shares of the business. Allianz SE acquired a new stake in MarketAxess during the 4th quarter worth about $27,000. Geneos Wealth Management Inc. raised its stake in shares of MarketAxess by 200.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 120 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 80 shares in the last quarter. Huntington National Bank raised its stake in shares of MarketAxess by 185.7% during the 4th quarter. Huntington National Bank now owns 160 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 104 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in shares of MarketAxess by 49.1% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 164 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 54 shares in the last quarter. Finally, Harbor Investment Advisory LLC purchased a new stake in shares of MarketAxess during the 2nd quarter worth about $37,000. 99.01% of the stock is currently owned by institutional investors and hedge funds.

About MarketAxess

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.