MarketAxess - MKTX Stock Forecast, Price & News

MarketAxess Holdings Inc., together with its subsidiaries, operates an electronic trading platform for institutional investor and broker-dealer companies worldwide. It offers the access to liquidity in the U.S. investment-grade bonds, U.S. high-yield bonds, and U.S. Treasuries, as well as municipal bonds, emerging market debts, Eurobonds, and other fixed income securities. The company, through its Open Trading protocols, executes bond trades between and among institutional investor and broker-dealer clients in an all-to-all anonymous trading environment for corporate bonds. It also offers trading-related products and services, including composite+ pricing and other market data products to assist clients with trading decisions; auto-execution and other execution services for clients requiring specialized workflow solutions; connectivity solutions that facilitate straight-through processing; and technology services to optimize trading environments. In addition, the company provides various pre-and post-trade services, such as trade matching, trade publication, regulatory transaction reporting, and market and reference data across a range of fixed-income and other products. MarketAxess Holdings Inc. was incorporated in 2000 and is headquartered in New York, New York.

MarketAxess Stock Down 3.6 %

Shares of MKTX Stock traded down $9.89 during trading hours on Friday, hitting $262.64. 1,471 shares of the company's stock traded hands, compared to its average volume of 307,867. The stock has a market cap of $9.89 billion, a PE ratio of 41.53 and a beta of 0.59. The stock's 50 day simple moving average is $266.93 and its 200 day simple moving average is $298.46. MarketAxess has a 12 month low of $249.01 and a 12 month high of $487.79.

MarketAxess (NASDAQ:MKTX - Get Rating) last released its quarterly earnings results on Wednesday, July 20th. The financial services provider reported $1.78 EPS for the quarter, beating analysts' consensus estimates of $1.71 by $0.07. The firm had revenue of $182.20 million for the quarter, compared to analyst estimates of $185.24 million. MarketAxess had a return on equity of 23.55% and a net margin of 34.77%. The business's revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.77 EPS. As a group, equities research analysts expect that MarketAxess will post 6.65 EPS for the current fiscal year.

MarketAxess Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 17th. Shareholders of record on Wednesday, August 3rd were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Tuesday, August 2nd. This represents a $2.80 annualized dividend and a yield of 1.07%. MarketAxess's payout ratio is 43.89%.

Wall Street Analyst Weigh In

MKTX has been the topic of several recent analyst reports. Compass Point upgraded MarketAxess from a "sell" rating to a "neutral" rating and set a $275.00 price target on the stock in a research note on Thursday, April 21st. Piper Sandler lowered their target price on MarketAxess from $300.00 to $285.00 and set a "neutral" rating for the company in a research note on Friday, July 1st. Deutsche Bank Aktiengesellschaft increased their target price on shares of MarketAxess from $286.00 to $292.00 and gave the stock a "hold" rating in a report on Friday, August 12th. Jefferies Financial Group decreased their price target on shares of MarketAxess from $315.00 to $300.00 and set a "hold" rating on the stock in a report on Monday, June 27th. Finally, Atlantic Securities increased their price objective on shares of MarketAxess from $280.00 to $290.00 and gave the company a "neutral" rating in a research note on Friday. One research analyst has rated the stock with a sell rating and nine have assigned a hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $308.22.

Insider Activity

In related news, insider Christophe Pierre Danie Roupie sold 1,740 shares of MarketAxess stock in a transaction on Tuesday, June 7th. The shares were sold at an average price of $285.03, for a total transaction of $495,952.20. Following the completion of the transaction, the insider now owns 5,318 shares of the company's stock, valued at $1,515,789.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.94% of the company's stock.