MarketAxess (NASDAQ:MKTX) PT Lowered to $230.00

MarketAxess (NASDAQ:MKTX) had its target price decreased by stock analysts at Keefe, Bruyette & Woods from $235.00 to $230.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective indicates a potential upside of 14.14% from the company’s current price.

Several other research firms have also commented on MKTX. Rosenblatt Securities lowered their price objective on shares of MarketAxess from $229.00 to $210.00 and set a “sell” rating for the company in a research note on Thursday, February 1st. Morgan Stanley raised their price target on MarketAxess from $278.00 to $279.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. Bank of America started coverage on MarketAxess in a research report on Wednesday, April 10th. They issued an “underperform” rating and a $199.00 price target for the company. Barclays dropped their price objective on MarketAxess from $239.00 to $236.00 and set an “equal weight” rating for the company in a research report on Monday, April 8th. Finally, William Blair reiterated an “outperform” rating on shares of MarketAxess in a research report on Tuesday, January 23rd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $250.73.

MarketAxess Stock Performance

Shares of NASDAQ MKTX traded up $0.61 during mid-day trading on Wednesday, reaching $201.50. The company’s stock had a trading volume of 26,643 shares, compared to its average volume of 419,266. The stock has a 50-day moving average of $213.24 and a two-hundred day moving average of $234.96. The stock has a market capitalization of $7.58 billion, a P/E ratio of 29.42, a P/E/G ratio of 4.26 and a beta of 0.98. MarketAxess has a 1-year low of $198.01 and a 1-year high of $303.85.

MarketAxess (NASDAQ:MKTX) last announced its quarterly earnings data on Tuesday, May 7th. The financial services provider reported $1.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.07. The firm had revenue of $210.30 million during the quarter, compared to analyst estimates of $212.99 million. MarketAxess had a net margin of 34.29% and a return on equity of 21.76%. MarketAxess’s quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.96 earnings per share. Analysts predict that MarketAxess will post 7.28 EPS for the current fiscal year.

Insiders Place Their Bets

In other MarketAxess news, CRO Kevin M. Mcpherson sold 2,000 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $221.26, for a total value of $442,520.00. Following the sale, the executive now directly owns 70,092 shares of the company’s stock, valued at approximately $15,508,555.92. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 2.66% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On MarketAxess

Several hedge funds and other institutional investors have recently modified their holdings of MKTX. Allworth Financial LP raised its holdings in shares of MarketAxess by 347.6% during the 4th quarter. Allworth Financial LP now owns 94 shares of the financial services provider’s stock valued at $28,000 after buying an additional 73 shares during the period. Gladius Capital Management LP boosted its position in MarketAxess by 39.6% during the 3rd quarter. Gladius Capital Management LP now owns 134 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 38 shares during the period. Venturi Wealth Management LLC lifted its holdings in shares of MarketAxess by 1,030.8% in the first quarter. Venturi Wealth Management LLC now owns 147 shares of the financial services provider’s stock valued at $32,000 after buying an additional 134 shares during the period. Parallel Advisors LLC lifted its holdings in shares of MarketAxess by 155.8% in the fourth quarter. Parallel Advisors LLC now owns 110 shares of the financial services provider’s stock valued at $32,000 after buying an additional 67 shares during the period. Finally, Massmutual Trust Co. FSB ADV raised its position in shares of MarketAxess by 47.3% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 134 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 43 shares during the period. 99.01% of the stock is owned by institutional investors and hedge funds.

MarketAxess Company Profile

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.