Wall Street Zen Upgrades MarketAxess (NASDAQ:MKTX) to "Hold"

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

Other analysts have also issued reports about the company. Keefe, Bruyette & Woods boosted their price objective on MarketAxess from $223.00 to $226.00 and gave the company a "market perform" rating in a research note on Thursday, May 8th. Piper Sandler dropped their target price on shares of MarketAxess from $213.00 to $202.00 and set a "neutral" rating for the company in a research report on Thursday, May 8th. Barclays boosted their price target on shares of MarketAxess from $232.00 to $240.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 8th. Morgan Stanley raised their price objective on shares of MarketAxess from $263.00 to $283.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. Finally, Citigroup increased their target price on MarketAxess from $250.00 to $265.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $241.78.

MarketAxess Stock Performance

NASDAQ MKTX traded down $3.48 during trading on Thursday, hitting $216.16. 123,455 shares of the company's stock traded hands, compared to its average volume of 499,020. The stock has a market capitalization of $8.11 billion, a price-to-earnings ratio of 29.73, a PEG ratio of 3.89 and a beta of 0.89. MarketAxess has a 12-month low of $186.84 and a 12-month high of $296.68. The business has a 50 day moving average of $217.96 and a 200-day moving average of $224.44.

MarketAxess (NASDAQ:MKTX - Get Free Report) last posted its quarterly earnings results 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. The company had revenue of $208.58 million for the quarter, compared to analyst estimates of $211.81 million. MarketAxess had a net margin of 33.56% and a return on equity of 20.23%. The company's quarterly revenue was down .8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.92 earnings per share. On average, analysts expect that MarketAxess will post 7.79 EPS for the current year.

Institutional Trading of MarketAxess

A number of institutional investors have recently made changes to their positions in the stock. Global X Japan Co. Ltd. increased its stake in shares of MarketAxess by 179.5% in the fourth quarter. Global X Japan Co. Ltd. now owns 109 shares of the financial services provider's stock worth $25,000 after buying an additional 70 shares during the period. Geneos Wealth Management Inc. grew its holdings in 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 acquiring an additional 80 shares during the last quarter. Allianz SE purchased a new position in shares of MarketAxess in the fourth quarter valued at about $27,000. Smartleaf Asset Management LLC raised its stake in shares of MarketAxess by 495.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 125 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 104 shares during the last quarter. Finally, SRS Capital Advisors Inc. raised its stake in shares of MarketAxess by 13,900.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 140 shares of the financial services provider's stock valued at $32,000 after acquiring an additional 139 shares during the last quarter. Hedge funds and other institutional investors 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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