MarketAxess (NASDAQ:MKTX) Earns Underperform Rating from Analysts at Bank of America

Equities researchers at Bank of America started coverage on shares of MarketAxess (NASDAQ:MKTX - Get Free Report) in a note issued to investors on Wednesday, Marketbeat reports. The firm set an "underperform" rating and a $199.00 price target on the financial services provider's stock. Bank of America's price target indicates a potential downside of 10.44% from the company's previous close.

Several other equities analysts have also weighed in on MKTX. Rosenblatt Securities cut their target price on MarketAxess from $229.00 to $210.00 and set a "sell" rating on the stock in a research note on Thursday, February 1st. William Blair reiterated an "outperform" rating on shares of MarketAxess in a research report on Tuesday, January 23rd. Morgan Stanley lifted their price objective on shares of MarketAxess from $278.00 to $279.00 and gave the stock an "equal weight" rating in a research note on Tuesday. Barclays cut their target price on shares of MarketAxess from $239.00 to $236.00 and set an "equal weight" rating on the stock in a report on Monday. Finally, The Goldman Sachs Group decreased their price target on shares of MarketAxess from $263.00 to $225.00 and set a "neutral" rating for the company in a report on Thursday, February 1st. Two analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $254.10.

MarketAxess Trading Down 1.9 %

Shares of MKTX traded down $4.31 on Wednesday, reaching $222.19. 367,051 shares of the company's stock were exchanged, compared to its average volume of 433,015. The business has a 50 day moving average price of $218.68 and a two-hundred day moving average price of $237.62. MarketAxess has a 12 month low of $200.01 and a 12 month high of $344.43. The stock has a market capitalization of $8.41 billion, a P/E ratio of 32.44, a price-to-earnings-growth ratio of 3.86 and a beta of 0.98.

MarketAxess (NASDAQ:MKTX - Get Free Report) last issued its earnings results on Wednesday, January 31st. The financial services provider reported $1.84 EPS for the quarter, beating the consensus estimate of $1.73 by $0.11. MarketAxess had a net margin of 34.29% and a return on equity of 21.76%. The company had revenue of $197.20 million during the quarter, compared to analysts' expectations of $196.70 million. During the same quarter in the previous year, the company posted $1.58 EPS. The business's revenue for the quarter was up 10.8% compared to the same quarter last year. Equities research analysts predict that MarketAxess will post 7.22 EPS for the current year.

Insider Buying and Selling

In other MarketAxess news, CRO Kevin M. Mcpherson sold 2,000 shares of the firm's stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $221.26, for a total value of $442,520.00. Following the completion of the transaction, the executive now directly owns 70,092 shares in the company, valued at $15,508,555.92. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.00% of the stock is currently owned by corporate insiders.

Institutional Trading of MarketAxess

Large investors have recently added to or reduced their stakes in the company. Allworth Financial LP increased its stake in shares of MarketAxess by 347.6% during the 4th quarter. Allworth Financial LP now owns 94 shares of the financial services provider's stock worth $28,000 after purchasing an additional 73 shares during the last quarter. Clear Street Markets LLC grew its holdings in MarketAxess by 94.6% during the first quarter. Clear Street Markets LLC now owns 72 shares of the financial services provider's stock worth $28,000 after purchasing an additional 35 shares during the period. Gladius Capital Management LP increased its position in MarketAxess by 39.6% during the third quarter. Gladius Capital Management LP now owns 134 shares of the financial services provider's stock worth $29,000 after buying an additional 38 shares during the last quarter. VitalStone Financial LLC bought a new stake in MarketAxess in the first quarter valued at approximately $31,000. Finally, Parallel Advisors LLC lifted its position in shares of MarketAxess by 155.8% in the fourth quarter. Parallel Advisors LLC now owns 110 shares of the financial services provider's stock valued at $32,000 after buying an additional 67 shares during the last quarter. Institutional investors and hedge funds own 99.01% of the company's stock.

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.