UBS Group Cuts MarketAxess (NASDAQ:MKTX) Price Target to $255.00

Key Points

• UBS Group has reduced its price target for MarketAxess from $295 to $255, maintaining a "buy" rating, indicating a potential upside of 38.51%.
• MarketAxess shares recently traded down 1.4% to $184.11 amid various analyst ratings, with a consensus rating of "Hold" and an average price target of $232.11.
• In the latest quarterly results, MarketAxess reported an EPS of $2.00, surpassing analyst expectations, while revenue increased by 11.0% year-over-year.

MarketAxess (NASDAQ:MKTX - Get Free Report) had its target price lowered by equities research analysts at UBS Group from $295.00 to $255.00 in a report issued on Thursday,Benzinga reports. The firm presently has a "buy" rating on the financial services provider's stock. UBS Group's target price indicates a potential upside of 38.51% from the company's current price.

Several other research firms have also issued reports on MKTX. Citigroup raised their price target on MarketAxess from $250.00 to $265.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Piper Sandler restated a "neutral" rating and set a $204.00 target price (up previously from $202.00) on shares of MarketAxess in a research note on Tuesday, July 15th. Barclays lowered their price objective on MarketAxess from $237.00 to $200.00 and set an "equal weight" rating on the stock in a research report on Thursday. Wall Street Zen lowered shares of MarketAxess from a "hold" rating to a "sell" rating in a research report on Sunday, July 20th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of MarketAxess from $223.00 to $226.00 and gave the stock a "market perform" rating in a research note 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, the stock currently has a consensus rating of "Hold" and a consensus price target of $232.11.

MarketAxess Trading Down 1.4%

MKTX stock traded down $2.69 during midday trading on Thursday, hitting $184.11. The stock had a trading volume of 669,748 shares, compared to its average volume of 584,015. MarketAxess has a 1-year low of $183.45 and a 1-year high of $296.68. The business has a fifty day moving average price of $216.77 and a two-hundred day moving average price of $214.05. The firm has a market cap of $6.90 billion, a P/E ratio of 31.99, a price-to-earnings-growth ratio of 2.74 and a beta of 0.84.

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

Hedge Funds Weigh In On MarketAxess

A number of hedge funds have recently added to or reduced their stakes in MKTX. Comerica Bank boosted its holdings in MarketAxess by 0.9% in the first quarter. Comerica Bank now owns 5,181 shares of the financial services provider's stock valued at $1,121,000 after acquiring an additional 48 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in MarketAxess by 1.0% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 5,080 shares of the financial services provider's stock worth $1,105,000 after purchasing an additional 51 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its position 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 valued at $35,000 after purchasing an additional 54 shares in the last quarter. State of Wyoming increased its position in shares of MarketAxess by 13.6% in the fourth quarter. State of Wyoming now owns 483 shares of the financial services provider's stock valued at $109,000 after acquiring an additional 58 shares during the period. Finally, Federated Hermes Inc. raised its position in shares of MarketAxess by 13.0% in the 1st quarter. Federated Hermes Inc. now owns 522 shares of the financial services provider's stock worth $113,000 after acquiring an additional 60 shares in 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.

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