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

Key Points

• MarketAxess now has a consensus analyst rating of "Hold" from 13 research firms, with 1 sell, 9 hold, and 3 buy ratings. The average 12-month price target is about $163.18.
• Several brokerages recently cut their price targets on MKTX, including Piper Sandler, Goldman Sachs, Rothschild & Co Redburn, and Morgan Stanley, reflecting a more cautious outlook.
• The stock was trading around $113.80, near its 1-year low, while the company’s latest earnings beat expectations with $2.25 EPS and revenue up 11.9% year over year.

Shares of MarketAxess Holdings Inc. (NASDAQ:MKTX - Get Free Report) 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 - Get Free Report) 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.

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