MarketAxess (NASDAQ:MKTX) Upgraded to Hold at Wall Street Zen

MarketAxess (NASDAQ:MKTX - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued on Thursday.

MKTX has been the subject of several other research reports. Piper Sandler reduced their price objective on shares of MarketAxess from $213.00 to $202.00 and set a "neutral" rating for the company in a research note on Thursday, May 8th. William Blair began coverage on shares of MarketAxess in a research note on Friday, April 4th. They issued an "outperform" rating for the company. 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. Keefe, Bruyette & Woods boosted their target price on shares of MarketAxess from $223.00 to $226.00 and gave the stock a "market perform" rating in a research report on Thursday, May 8th. Finally, UBS Group cut their target price on shares of MarketAxess from $305.00 to $295.00 and set a "buy" rating for the company in a research report on Monday, April 7th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $241.78.

MarketAxess Price Performance

Shares of MKTX stock traded up $0.53 on Thursday, hitting $218.38. The company's stock had a trading volume of 137,481 shares, compared to its average volume of 501,541. MarketAxess has a fifty-two week low of $186.84 and a fifty-two week high of $296.68. The firm's fifty day moving average price is $217.97 and its 200-day moving average price is $222.41. The stock has a market capitalization of $8.19 billion, a price-to-earnings ratio of 30.01, a P/E/G ratio of 3.89 and a beta of 0.89.

MarketAxess (NASDAQ:MKTX - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The financial services provider reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.05. MarketAxess had a net margin of 33.56% and a return on equity of 20.23%. The business had revenue of $208.58 million during the quarter, compared to analyst estimates of $211.81 million. During the same quarter in the previous year, the business earned $1.92 EPS. MarketAxess's quarterly revenue was down .8% compared to the same quarter last year. Analysts predict that MarketAxess will post 7.79 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Comerica Bank raised its position in shares of MarketAxess by 0.9% during the first quarter. Comerica Bank now owns 5,181 shares of the financial services provider's stock valued at $1,121,000 after buying an additional 48 shares during the last quarter. V Square Quantitative Management LLC raised its position in shares of MarketAxess by 4.0% during the fourth quarter. V Square Quantitative Management LLC now owns 1,340 shares of the financial services provider's stock valued at $303,000 after buying an additional 52 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its position in shares of 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 buying an additional 54 shares during the last quarter. State of Wyoming raised its position in shares of MarketAxess by 13.6% during the fourth quarter. State of Wyoming now owns 483 shares of the financial services provider's stock valued at $109,000 after buying an additional 58 shares during the last quarter. Finally, Federated Hermes Inc. raised its position in shares of MarketAxess by 13.0% during the first quarter. Federated Hermes Inc. now owns 522 shares of the financial services provider's stock valued at $113,000 after buying an additional 60 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.