MarketAxess Holdings Inc. (NASDAQ:MKTX) Given Consensus Recommendation of “Hold” by Brokerages

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

Several research analysts have weighed in on MKTX shares. Morgan Stanley lowered their target price 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. Piper Sandler decreased their price target on MarketAxess from $175.00 to $128.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 15th. Weiss Ratings downgraded MarketAxess from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, May 6th. UBS Group dropped their price objective on MarketAxess from $215.00 to $200.00 and set a “buy” rating for the company in a research note on Wednesday, July 8th. Finally, Bank of America upgraded MarketAxess from an “underperform” rating to a “neutral” rating and set a $170.00 target price on the stock in a research report on Friday, June 12th.

Institutional Investors Weigh In On MarketAxess

Large investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC raised its position in MarketAxess by 169.0% during the fourth quarter. AQR Capital Management LLC now owns 2,558,097 shares of the financial services provider’s stock worth $463,655,000 after acquiring an additional 1,607,009 shares during the last quarter. Primecap Management Co. CA lifted its holdings in shares of MarketAxess by 42.4% in 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 purchasing an additional 944,830 shares in the last quarter. Bank of Montreal Can grew its position in shares of MarketAxess by 5,086.4% in the fourth 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. North Reef Capital Management LP increased its stake in shares of MarketAxess by 76.6% during the 4th quarter. North Reef Capital Management LP now owns 1,609,330 shares of the financial services provider’s stock worth $291,691,000 after purchasing an additional 697,972 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of MarketAxess during the 4th quarter worth approximately $91,324,000. 99.01% of the stock is owned by institutional investors and hedge funds.

MarketAxess Price Performance

MarketAxess stock opened at $114.31 on Friday. The company has a market cap of $4.06 billion, a P/E ratio of 13.51, a price-to-earnings-growth ratio of 3.04 and a beta of 0.88. MarketAxess has a one year low of $108.75 and a one year high of $214.98. The business has a fifty day moving average of $120.99 and a two-hundred day moving average of $153.35. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.17 and a current ratio of 2.17.

MarketAxess (NASDAQ:MKTX) last posted its quarterly earnings results on Thursday, May 7th. The financial services provider reported $2.25 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.10. MarketAxess had a net margin of 35.53% and a return on equity of 22.28%. The business had revenue of $233.38 million for the quarter, compared to analysts’ expectations of $231.91 million. During the same period in the prior year, the company posted $1.87 EPS. The business’s revenue for the quarter was up 11.9% on a year-over-year basis. As a group, analysts predict that MarketAxess will post 8.01 earnings per share for the current fiscal year.

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.