MarketAxess (NASDAQ:MKTX) Earns "Neutral" Rating from Piper Sandler

Piper Sandler restated their neutral rating on shares of MarketAxess (NASDAQ:MKTX - Free Report) in a report published on Tuesday morning, Marketbeat reports. The brokerage currently has a $204.00 price target on the financial services provider's stock, up from their previous price target of $202.00.

Several other research analysts have also weighed in on MKTX. Bank of America increased their target price on MarketAxess from $189.00 to $191.00 and gave the stock an "underperform" rating in a research report on Wednesday, April 2nd. UBS Group reissued a "buy" rating and issued a $295.00 price objective on shares of MarketAxess in a research report on Tuesday, July 8th. Morgan Stanley cut their price objective on MarketAxess from $283.00 to $274.00 and set an "overweight" rating on the stock in a research report on Tuesday. Citigroup raised their price objective on MarketAxess from $250.00 to $265.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Finally, Barclays cut their price objective on MarketAxess from $240.00 to $237.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 10th. One analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $240.67.

MarketAxess Trading Down 0.8%

Shares of MarketAxess stock traded down $1.59 during trading hours on Tuesday, reaching $208.84. 368,602 shares of the company's stock were exchanged, compared to its average volume of 498,507. The firm has a market capitalization of $7.83 billion, a price-to-earnings ratio of 36.32, a price-to-earnings-growth ratio of 2.84 and a beta of 0.85. The company has a fifty day moving average of $219.61 and a 200-day moving average of $215.34. MarketAxess has a 52-week low of $186.84 and a 52-week high of $296.68.

MarketAxess (NASDAQ:MKTX - Get Free Report) last issued its earnings results on Wednesday, May 7th. The financial services provider reported $1.87 earnings per share for the quarter, topping the consensus estimate of $1.82 by $0.05. The business had revenue of $208.58 million for the quarter, compared to analyst estimates of $211.81 million. MarketAxess had a return on equity of 19.93% and a net margin of 26.57%. The business's quarterly revenue was down .8% on a year-over-year basis. During the same period last year, the company posted $1.92 EPS. On average, equities research analysts anticipate that MarketAxess will post 7.79 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MarketAxess

A number of large investors have recently bought and sold shares of the business. Geneos Wealth Management Inc. raised its holdings in shares of MarketAxess by 200.0% during the first quarter. Geneos Wealth Management Inc. now owns 120 shares of the financial services provider's stock valued at $26,000 after buying an additional 80 shares during the last quarter. Allianz SE bought a new stake in MarketAxess during the fourth quarter worth approximately $27,000. MassMutual Private Wealth & Trust FSB raised its holdings in MarketAxess by 49.1% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 164 shares of the financial services provider's stock worth $35,000 after purchasing an additional 54 shares in the last quarter. Huntington National Bank raised its holdings in MarketAxess by 185.7% during the fourth quarter. Huntington National Bank now owns 160 shares of the financial services provider's stock worth $36,000 after purchasing an additional 104 shares in the last quarter. Finally, Harbor Investment Advisory LLC acquired a new position in MarketAxess in the second quarter worth approximately $37,000. Institutional investors 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.