MarketAxess (NASDAQ:MKTX) Earns Market Perform Rating from Keefe, Bruyette & Woods

MarketAxess (NASDAQ:MKTX)‘s stock had its “market perform” rating restated by Keefe, Bruyette & Woods in a report issued on Tuesday,Benzinga reports. They currently have a $167.00 target price on the financial services provider’s stock, up from their previous target price of $150.00. Keefe, Bruyette & Woods’ price objective points to a potential upside of 2.77% from the company’s current price.

Other analysts also recently issued research reports about the company. The Goldman Sachs Group dropped their price objective on MarketAxess from $168.00 to $130.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 30th. Bank of America raised MarketAxess from an “underperform” rating to a “neutral” rating and set a $170.00 target price for the company in a research note on Friday, June 12th. Morgan Stanley lowered their target price on MarketAxess from $195.00 to $129.00 and set an “equal weight” rating on the stock in a report on Friday, July 10th. Piper Sandler dropped their price target on shares of MarketAxess from $175.00 to $128.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 15th. Finally, Benchmark reissued a “buy” rating on shares of MarketAxess in a report on Wednesday, July 8th. One equities research analyst has rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, MarketAxess presently has a consensus rating of “Hold” and a consensus target price of $156.10.

MarketAxess Price Performance

NASDAQ MKTX opened at $162.50 on Tuesday. MarketAxess has a 12 month low of $108.75 and a 12 month high of $195.96. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.17 and a quick ratio of 2.17. The firm has a market capitalization of $5.78 billion, a PE ratio of 19.16, a P/E/G ratio of 4.12 and a beta of 0.83. The company’s 50 day simple moving average is $124.18 and its 200 day simple moving average is $151.20.

MarketAxess (NASDAQ:MKTX) last announced its earnings results on Thursday, July 30th. The financial services provider reported $1.95 EPS for the quarter, topping the consensus estimate of $1.85 by $0.10. The firm had revenue of $218.41 million for the quarter, compared to analysts’ expectations of $216.70 million. MarketAxess had a return on equity of 22.48% and a net margin of 35.22%.The firm’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.00 earnings per share. As a group, equities research analysts forecast that MarketAxess will post 8.04 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. MUFG Securities EMEA plc purchased a new stake in MarketAxess in the 2nd quarter worth approximately $25,000. Geneos Wealth Management Inc. increased its stake in shares of MarketAxess by 200.0% in the first 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. Activest Wealth Management acquired a new position in shares of MarketAxess in the fourth quarter worth $28,000. Versant Capital Management Inc raised its holdings in shares of MarketAxess by 215.3% during the second quarter. Versant Capital Management Inc now owns 391 shares of the financial services provider’s stock worth $44,000 after acquiring an additional 267 shares in the last quarter. Finally, State of Wyoming purchased a new stake in shares of MarketAxess during the second quarter worth $49,000. 99.01% of the stock is owned by hedge funds and other institutional investors.

About MarketAxess

MarketAxess Holdings Inc operates a leading global electronic trading platform specializing in fixed-income securities and related products. The company’s network enables institutional investors and broker-dealers to trade corporate bonds, municipal securities, emerging markets debt, U.S. Treasuries and credit default swaps in an automated, multi-dealer environment. MarketAxess also offers portfolio trading, data analytics, best-execution tools and post-trade services to streamline workflows and enhance price discovery across its marketplace.

In addition to core voice-like trading protocols, MarketAxess provides Open Trading®, an anonymous, all-to-all trading protocol designed to improve liquidity and transaction efficiency.