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 Price Performance

NASDAQ:MKTX traded down $3.68 during mid-day trading on Tuesday, reaching $265.23. The company's stock had a trading volume of 293,265 shares, compared to its average volume of 346,471. The company's fifty day simple moving average is $268.05 and its two-hundred day simple moving average is $301.61. MarketAxess has a twelve month low of $249.01 and a twelve month high of $487.79. The stock has a market cap of $9.98 billion, a P/E ratio of 41.57 and a beta of 0.59.

MarketAxess (NASDAQ:MKTX - Get Rating) last issued its quarterly earnings results on Wednesday, July 20th. The financial services provider reported $1.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.71 by $0.07. MarketAxess had a return on equity of 23.55% and a net margin of 34.77%. The firm had revenue of $182.20 million for the quarter, compared to analyst estimates of $185.24 million. During the same period last year, the company earned $1.77 EPS. The firm's quarterly revenue was up 3.3% on a year-over-year basis. Sell-side analysts expect that MarketAxess will post 6.75 EPS for the current fiscal year.

MarketAxess Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 17th. Shareholders of record on Wednesday, August 3rd will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date of this dividend is Tuesday, August 2nd. MarketAxess's payout ratio is 43.89%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on MKTX. Jefferies Financial Group dropped their price target on MarketAxess from $315.00 to $300.00 and set a "hold" rating for the company in a research report on Monday, June 27th. Piper Sandler dropped their price target on MarketAxess from $300.00 to $285.00 and set a "neutral" rating for the company in a research report on Friday, July 1st. Morgan Stanley dropped their price target on MarketAxess from $338.00 to $325.00 and set an "equal weight" rating for the company in a research report on Tuesday, July 19th. Rosenblatt Securities raised their price target on MarketAxess from $383.00 to $395.00 and gave the company a "buy" rating in a research report on Thursday, April 21st. Finally, Credit Suisse Group decreased their price objective on MarketAxess from $316.00 to $305.00 and set a "neutral" rating on the stock in a research note on Thursday, July 7th. Nine research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, MarketAxess presently has a consensus rating of "Hold" and an average target price of $327.56.

Insiders Place Their Bets

In other MarketAxess news, insider Christophe Pierre Danie Roupie sold 1,740 shares of the firm's stock in a transaction dated Tuesday, June 7th. The stock was sold at an average price of $285.03, for a total value of $495,952.20. Following the sale, the insider now directly owns 5,318 shares of the company's stock, valued at approximately $1,515,789.54. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.94% of the stock is owned by corporate insiders.