MarketAxess (NASDAQ:MKTX) Given New $132.00 Price Target at Barclays

MarketAxess (NASDAQ:MKTX) had its price objective dropped by research analysts at Barclays from $170.00 to $132.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the financial services provider’s stock. Barclays‘s price target would indicate a potential upside of 16.24% from the stock’s previous close.

Several other research firms also recently weighed in on MKTX. UBS Group dropped their target price on shares of MarketAxess from $215.00 to $200.00 and set a “buy” rating for the company in a report on Wednesday. Keefe, Bruyette & Woods initiated coverage on MarketAxess in a research note on Wednesday, April 8th. They set an “outperform” rating and a $195.00 price target on the stock. Rothschild & Co Redburn restated a “neutral” rating and set a $134.00 price target (down from $189.00) on shares of MarketAxess in a research report on Thursday, June 11th. Weiss Ratings cut MarketAxess from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, May 6th. Finally, Argus downgraded MarketAxess from a “buy” rating to a “hold” rating in a report on Tuesday, March 17th. Three investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $173.45.

MarketAxess Trading Down 3.1%

Shares of MKTX stock opened at $113.56 on Thursday. 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 cap of $4.04 billion, a PE ratio of 13.38, a price-to-earnings-growth ratio of 3.85 and a beta of 0.88. The company has a 50-day moving average of $128.70 and a two-hundred day moving average of $158.57. MarketAxess has a 1-year low of $108.75 and a 1-year high of $220.42.

MarketAxess (NASDAQ:MKTX) last released its quarterly earnings results on Thursday, May 7th. The financial services provider reported $2.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.10. MarketAxess had a net margin of 35.53% and a return on equity of 22.28%. The business had revenue of $233.38 million for the quarter, compared to the consensus estimate of $231.91 million. During the same period in the previous year, the firm earned $1.87 EPS. The business’s revenue was up 11.9% on a year-over-year basis. On average, analysts predict that MarketAxess will post 7.98 EPS for the current year.

Institutional Trading of MarketAxess

Large investors have recently modified their holdings of the stock. AQR Capital Management LLC raised its stake in shares of MarketAxess by 169.0% in the fourth quarter. AQR Capital Management LLC now owns 2,558,097 shares of the financial services provider’s stock valued at $463,655,000 after acquiring an additional 1,607,009 shares in the last quarter. Primecap Management Co. CA boosted its holdings in MarketAxess by 42.4% in the fourth quarter. Primecap Management Co. CA now owns 3,175,425 shares of the financial services provider’s stock valued at $575,546,000 after purchasing an additional 944,830 shares during the period. Bank of Montreal Can grew its stake in MarketAxess by 5,086.4% during the 4th quarter. Bank of Montreal Can now owns 951,024 shares of the financial services provider’s stock worth $172,373,000 after purchasing an additional 932,687 shares in the last quarter. North Reef Capital Management LP grew its stake in MarketAxess by 76.6% during the 4th quarter. North Reef Capital Management LP now owns 1,609,330 shares of the financial services provider’s stock worth $291,691,000 after purchasing an additional 697,972 shares in the last quarter. Finally, Norges Bank purchased a new stake in MarketAxess during the 4th quarter worth about $91,324,000. Hedge funds and other institutional investors own 99.01% of the company’s stock.

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.