Barclays Cuts MarketAxess (NASDAQ:MKTX) Price Target to $200.00

Key Points

• Barclays has reduced its price target for MarketAxess (NASDAQ:MKTX) from $237.00 to $200.00, maintaining an "equal weight" rating.
• MarketAxess' current stock price indicates a potential upside of 6.34% based on the revised price target.
• Analysts have varied opinions on MarketAxess, with a consensus rating of "Hold" and an average price target of $236.56, reflecting mixed outlooks from different firms.

MarketAxess (NASDAQ:MKTX - Get Free Report) had its price objective reduced by research analysts at Barclays from $237.00 to $200.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an "equal weight" rating on the financial services provider's stock. Barclays's price objective points to a potential upside of 6.34% from the company's current price.

MKTX has been the topic of several other research reports. Morgan Stanley dropped their price target on shares of MarketAxess from $283.00 to $274.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 15th. Piper Sandler reaffirmed a "neutral" rating and set a $204.00 price objective (up previously from $202.00) on shares of MarketAxess in a research note on Tuesday, July 15th. Wall Street Zen cut MarketAxess from a "hold" rating to a "sell" rating in a report on Sunday, July 20th. UBS Group reaffirmed a "buy" rating and set a $295.00 price objective on shares of MarketAxess in a research report on Tuesday, July 8th. Finally, Citigroup lifted their target price on MarketAxess from $250.00 to $265.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, MarketAxess currently has a consensus rating of "Hold" and an average price target of $236.56.

MarketAxess Price Performance

Shares of MKTX stock opened at $188.07 on Thursday. The company has a market cap of $7.05 billion, a P/E ratio of 32.72, a PEG ratio of 2.74 and a beta of 0.84. The stock's 50-day moving average is $216.77 and its 200 day moving average is $214.05. MarketAxess has a 1-year low of $186.14 and a 1-year high of $296.68.

MarketAxess (NASDAQ:MKTX - Get Free Report) last released its earnings results on Wednesday, August 6th. The financial services provider reported $2.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.94 by $0.06. MarketAxess had a return on equity of 19.93% and a net margin of 26.57%. The firm had revenue of $219.46 million for the quarter, compared to the consensus estimate of $218.05 million. During the same period in the prior year, the firm earned $1.72 EPS. The firm's revenue was up 11.0% on a year-over-year basis. On average, analysts anticipate that MarketAxess will post 7.79 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. T. Rowe Price Investment Management Inc. increased its holdings in shares of MarketAxess by 1.1% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 2,323,015 shares of the financial services provider's stock valued at $502,585,000 after acquiring an additional 24,606 shares during the last quarter. FMR LLC lifted its holdings in shares of MarketAxess by 17.4% during the fourth quarter. FMR LLC now owns 2,300,536 shares of the financial services provider's stock valued at $520,013,000 after purchasing an additional 341,493 shares during the last quarter. Invesco Ltd. lifted its position in shares of MarketAxess by 12.4% in the 4th quarter. Invesco Ltd. now owns 1,044,360 shares of the financial services provider's stock valued at $236,067,000 after acquiring an additional 115,186 shares in the last quarter. Findlay Park Partners LLP grew its holdings in shares of MarketAxess by 1.4% during the first quarter. Findlay Park Partners LLP now owns 680,000 shares of the financial services provider's stock valued at $147,118,000 after buying an additional 9,100 shares in the last quarter. Finally, Millennium Management LLC lifted its position in shares of MarketAxess by 329.4% in the first quarter. Millennium Management LLC now owns 618,922 shares of the financial services provider's stock worth $133,904,000 after purchasing an additional 474,776 shares in the last quarter. Institutional investors and hedge funds own 99.01% of the company's stock.

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.

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