MarketAxess (NASDAQ:MKTX) Posts Earnings Results, Beats Expectations By $0.08 EPS

MarketAxess (NASDAQ:MKTX) issued its quarterly earnings data on Tuesday. The financial services provider reported $1.77 EPS for the quarter, topping analysts’ consensus estimates of $1.69 by $0.08, MarketWatch Earnings reports. The business had revenue of $176.30 million for the quarter, compared to analysts’ expectations of $177.56 million. MarketAxess had a net margin of 42.62% and a return on equity of 33.03%. The business’s revenue was down 4.6% on a year-over-year basis. During the same quarter last year, the company earned $2.20 EPS.

Shares of MarketAxess stock traded up $8.69 during trading hours on Thursday, reaching $464.54. 3,130 shares of the company’s stock were exchanged, compared to its average volume of 225,794. MarketAxess has a 1 year low of $431.19 and a 1 year high of $606.45. The stock has a market capitalization of $17.64 billion, a P/E ratio of 57.92 and a beta of 0.38. The firm has a fifty day moving average price of $456.61.

In other news, General Counsel Scott Pintoff sold 100 shares of the company’s stock in a transaction on Monday, May 24th. The shares were sold at an average price of $460.02, for a total transaction of $46,002.00. Following the completion of the sale, the general counsel now owns 6,223 shares of the company’s stock, valued at $2,862,704.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Nicholas Themelis sold 7,000 shares of the company’s stock in a transaction dated Monday, June 14th. The shares were sold at an average price of $448.64, for a total transaction of $3,140,480.00. Following the completion of the sale, the insider now directly owns 20,587 shares of the company’s stock, valued at approximately $9,236,151.68. The disclosure for this sale can be found here. Insiders have sold 22,070 shares of company stock valued at $9,962,539 in the last ninety days. Insiders own 3.05% of the company’s stock.

A number of equities research analysts have recently commented on MKTX shares. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of MarketAxess from $430.00 to $427.00 and set a “hold” rating on the stock in a research note on Thursday. Piper Sandler cut their price target on shares of MarketAxess from $483.00 to $475.00 and set a “neutral” rating for the company in a report on Wednesday, July 7th. Raymond James cut their price target on shares of MarketAxess from $580.00 to $530.00 and set an “outperform” rating for the company in a report on Wednesday, July 7th. Morgan Stanley cut their price target on shares of MarketAxess from $500.00 to $470.00 and set an “equal weight” rating for the company in a report on Thursday. Finally, Rosenblatt Securities cut their price target on shares of MarketAxess from $625.00 to $569.00 and set a “buy” rating for the company in a report on Thursday, June 3rd. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $528.78.

MarketAxess Company Profile

MarketAxess Holdings Inc, together with its subsidiaries, operates an electronic trading platform for institutional investor and broker-dealer firms worldwide. It offers the access to global liquidity in U.S. investment-grade bonds, U.S. high-yield bonds, U.S. Treasuries, municipal bonds, emerging market debt, Eurobonds, and other fixed income securities.

Further Reading: Purposes and Functions of the Federal Reserve

Earnings History for MarketAxess (NASDAQ:MKTX)

Receive News & Ratings for MarketAxess Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MarketAxess and related companies with MarketBeat.com's FREE daily email newsletter.