MarketAxess Holdings Inc. (NASDAQ:MKTX) Receives $163.18 Average Target Price from Brokerages

MarketAxess Holdings Inc. (NASDAQ:MKTX) has earned an average recommendation of “Hold” from the thirteen analysts that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $163.1818.

MKTX has been the topic of a number of recent research reports. Keefe, Bruyette & Woods began coverage on shares of MarketAxess in a report on Wednesday, April 8th. They issued an “outperform” rating and a $195.00 price objective on the stock. UBS Group lowered their target price on shares of MarketAxess from $215.00 to $200.00 and set a “buy” rating for the company in a report on Wednesday, July 8th. Bank of America raised MarketAxess from an “underperform” rating to a “neutral” rating and set a $170.00 price target on the stock in a research report on Friday, June 12th. Benchmark restated a “buy” rating on shares of MarketAxess in a research note on Wednesday, July 8th. Finally, Weiss Ratings downgraded MarketAxess from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, May 6th.

MarketAxess Stock Performance

Shares of MKTX stock opened at $112.27 on Friday. The company’s fifty day moving average price is $122.04 and its 200-day moving average price is $154.29. The stock has a market cap of $3.99 billion, a PE ratio of 13.27, a price-to-earnings-growth ratio of 3.09 and a beta of 0.88. 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 has a 12 month low of $108.75 and a 12 month high of $214.98.

MarketAxess (NASDAQ:MKTX) last issued 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 net margin of 35.53% and a return on equity of 22.28%. The company had revenue of $233.38 million during the quarter, compared to analyst estimates of $231.91 million. During the same period last year, the business earned $1.87 EPS. MarketAxess’s quarterly revenue was up 11.9% compared to the same quarter last year. On average, equities analysts expect that MarketAxess will post 8.01 EPS for the current fiscal year.

Institutional Investors Weigh In On MarketAxess

Several hedge funds have recently added to or reduced their stakes in the stock. Primecap Management Co. CA increased its holdings in shares of MarketAxess by 42.4% during the fourth quarter. Primecap Management Co. CA now owns 3,175,425 shares of the financial services provider’s stock valued at $575,546,000 after acquiring an additional 944,830 shares in the last quarter. AQR Capital Management LLC boosted its stake in MarketAxess by 169.0% in the 4th quarter. AQR Capital Management LLC now owns 2,558,097 shares of the financial services provider’s stock worth $463,655,000 after purchasing an additional 1,607,009 shares in the last quarter. North Reef Capital Management LP boosted its stake in MarketAxess by 16.5% in the 1st quarter. North Reef Capital Management LP now owns 1,875,000 shares of the financial services provider’s stock worth $309,338,000 after purchasing an additional 265,670 shares in the last quarter. State Street Corp grew its position in MarketAxess by 4.6% during the 2nd quarter. State Street Corp now owns 1,532,696 shares of the financial services provider’s stock valued at $342,312,000 after purchasing an additional 67,290 shares during the last quarter. Finally, Bank of Montreal Can grew its position in MarketAxess by 5,086.4% during the 4th quarter. Bank of Montreal Can now owns 951,024 shares of the financial services provider’s stock valued at $172,373,000 after purchasing an additional 932,687 shares during the last quarter. 99.01% of the stock is owned by institutional investors.

MarketAxess Company Profile

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.