Jefferies Financial Group Cuts MarketAxess (NASDAQ:MKTX) Price Target to $208.00

Key Points

• Jefferies Financial Group has lowered its price target for MarketAxess from $217.00 to $208.00 while maintaining a "hold" rating, indicating a potential upside of 11.22% from the current price.
• Other analysts show mixed ratings with Citigroup raising its target price to $265.00 and a buy rating, while Barclays has set a target of $200.00 with an equal weight rating.
• MarketAxess reported earnings of $2.00 per share, beating estimates and showing an 11% increase in quarterly revenue compared to the same period last year.

MarketAxess (NASDAQ:MKTX - Get Free Report) had its price objective lowered by equities researchers at Jefferies Financial Group from $217.00 to $208.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a "hold" rating on the financial services provider's stock. Jefferies Financial Group's price target indicates a potential upside of 11.22% from the company's current price.

Other equities research analysts also recently issued reports about the stock. Citigroup boosted their target price on shares of MarketAxess from $250.00 to $265.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Piper Sandler reissued a "neutral" rating and set a $204.00 target price (up from $202.00) on shares of MarketAxess in a research report on Tuesday, July 15th. Morgan Stanley decreased their target price on shares of MarketAxess from $283.00 to $274.00 and set an "overweight" rating for the company in a research report on Tuesday, July 15th. Wall Street Zen raised shares of MarketAxess from a "sell" rating to a "hold" rating in a research report on Saturday. Finally, Barclays decreased their target price on shares of MarketAxess from $237.00 to $200.00 and set an "equal weight" rating for the company in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, MarketAxess has a consensus rating of "Hold" and an average price target of $229.70.

MarketAxess Trading Up 1.4%

Shares of NASDAQ MKTX opened at $187.01 on Monday. The firm's 50-day moving average price is $215.61 and its 200-day moving average price is $213.39. MarketAxess has a 1-year low of $182.99 and a 1-year high of $296.68. The firm has a market capitalization of $6.99 billion, a P/E ratio of 31.48, a P/E/G ratio of 3.56 and a beta of 0.84.

MarketAxess (NASDAQ:MKTX - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $2.00 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.06. MarketAxess had a net margin of 26.62% and a return on equity of 20.41%. The firm had revenue of $219.46 million for the quarter, compared to analyst estimates of $218.05 million. During the same quarter in the prior year, the business earned $1.72 earnings per share. The business's quarterly revenue was up 11.0% compared to the same quarter last year. Equities research analysts forecast that MarketAxess will post 7.79 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Clear Creek Financial Management LLC bought a new position in shares of MarketAxess during the 1st quarter valued at approximately $280,000. Praxis Investment Management Inc. bought a new position in shares of MarketAxess during the 1st quarter valued at approximately $376,000. Wilson Asset Management International PTY Ltd. grew its position in shares of MarketAxess by 26.6% during the 1st quarter. Wilson Asset Management International PTY Ltd. now owns 60,492 shares of the financial services provider's stock valued at $13,087,000 after acquiring an additional 12,697 shares during the period. Victory Capital Management Inc. grew its position in shares of MarketAxess by 210.8% during the 1st quarter. Victory Capital Management Inc. now owns 17,400 shares of the financial services provider's stock valued at $3,764,000 after acquiring an additional 11,801 shares during the period. Finally, First Citizens Bank & Trust Co. lifted its stake in shares of MarketAxess by 13.6% during the 1st quarter. First Citizens Bank & Trust Co. now owns 24,671 shares of the financial services provider's stock valued at $5,338,000 after buying an additional 2,947 shares in the last quarter. 99.01% of the stock is owned by institutional investors.

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.

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