MarketAxess Holdings Inc. (NASDAQ:MKTX) Receives Consensus Recommendation of “Hold” from Analysts

Shares of MarketAxess Holdings Inc. (NASDAQ:MKTX) have received an average rating of “Hold” from the thirteen research firms that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $163.1818.

Several brokerages have recently issued reports on MKTX. Piper Sandler cut their target price on shares of MarketAxess from $175.00 to $128.00 and set a “neutral” rating on the stock in a report on Wednesday. The Goldman Sachs Group lowered their price target on shares of MarketAxess from $168.00 to $130.00 and set a “neutral” rating for the company in a report on Tuesday, June 30th. Keefe, Bruyette & Woods initiated coverage on shares of MarketAxess in a research report on Wednesday, April 8th. They set an “outperform” rating and a $195.00 price target for the company. Rothschild & Co Redburn reissued a “neutral” rating and issued a $134.00 price target (down from $189.00) on shares of MarketAxess in a report on Thursday, June 11th. Finally, Morgan Stanley decreased their price objective on shares of MarketAxess from $195.00 to $129.00 and set an “equal weight” rating on the stock in a research report on Friday, July 10th.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. MUFG Securities EMEA plc purchased a new stake in MarketAxess in the 2nd quarter worth approximately $25,000. Geneos Wealth Management Inc. grew its position in shares of MarketAxess by 200.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 120 shares of the financial services provider’s stock worth $26,000 after buying an additional 80 shares during the last quarter. Activest Wealth Management purchased a new position in shares of MarketAxess during the fourth quarter valued at approximately $28,000. Pacer Advisors Inc. increased its stake in shares of MarketAxess by 300.0% during the fourth quarter. Pacer Advisors Inc. now owns 280 shares of the financial services provider’s stock valued at $51,000 after buying an additional 210 shares during the period. Finally, MassMutual Private Wealth & Trust FSB raised its holdings in shares of MarketAxess by 111.6% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 311 shares of the financial services provider’s stock valued at $56,000 after acquiring an additional 164 shares in the last quarter. Hedge funds and other institutional investors own 99.01% of the company’s stock.

MarketAxess Trading Down 1.5%

NASDAQ MKTX opened at $113.80 on Friday. The firm has a market cap of $4.04 billion, a PE ratio of 13.45, a price-to-earnings-growth ratio of 3.08 and a beta of 0.88. MarketAxess has a 1-year low of $108.75 and a 1-year high of $214.98. The stock has a 50-day moving average of $123.23 and a 200-day moving average of $155.45. The company has a current ratio of 2.17, a quick ratio of 2.17 and a debt-to-equity ratio of 0.19.

MarketAxess (NASDAQ:MKTX) last posted its quarterly earnings results on Thursday, May 7th. The financial services provider reported $2.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.10. MarketAxess had a return on equity of 22.28% and a net margin of 35.53%.The business had revenue of $233.38 million for the quarter, compared to analyst estimates of $231.91 million. During the same period last year, the company earned $1.87 EPS. MarketAxess’s revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, sell-side analysts forecast that MarketAxess will post 7.94 EPS for the current year.

About MarketAxess

MarketAxess Holdings Inc operates a leading global electronic trading platform specializing in fixed-income securities and related products. The company’s network enables institutional investors and broker-dealers to trade corporate bonds, municipal securities, emerging markets debt, U.S. Treasuries and credit default swaps in an automated, multi-dealer environment. MarketAxess also offers portfolio trading, data analytics, best-execution tools and post-trade services to streamline workflows and enhance price discovery across its marketplace.

In addition to core voice-like trading protocols, MarketAxess provides Open Trading®, an anonymous, all-to-all trading protocol designed to improve liquidity and transaction efficiency.