MarketAxess (NASDAQ:MKTX) Reaches New 1-Year Low – What’s Next?

MarketAxess Holdings Inc. (NASDAQ:MKTX)’s share price reached a new 52-week low during trading on Wednesday . The company traded as low as $155.34 and last traded at $157.3310, with a volume of 132026 shares traded. The stock had previously closed at $158.49.

Wall Street Analyst Weigh In

A number of analysts recently commented on MKTX shares. Piper Sandler dropped their price objective on MarketAxess from $180.00 to $175.00 and set a “neutral” rating for the company in a research report on Wednesday, January 14th. Barclays dropped their price objective on MarketAxess from $182.00 to $178.00 and set an “equal weight” rating for the company in a research report on Monday, February 9th. Argus cut MarketAxess from a “buy” rating to a “hold” rating in a research report on Tuesday, March 17th. Wall Street Zen upgraded MarketAxess from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. Finally, Morgan Stanley dropped their price objective on MarketAxess from $204.00 to $195.00 and set an “equal weight” rating for the company in a research report on Thursday, January 15th. Three equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $201.11.

MarketAxess Stock Up 1.5%

The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.80 and a current ratio of 2.80. The company has a market cap of $5.72 billion, a PE ratio of 24.16, a PEG ratio of 2.45 and a beta of 1.01. The firm has a fifty day simple moving average of $174.74 and a 200 day simple moving average of $172.55.

MarketAxess (NASDAQ:MKTX) last posted its quarterly earnings results on Friday, February 6th. The financial services provider reported $1.68 EPS for the quarter, missing the consensus estimate of $1.72 by ($0.04). The business had revenue of $209.41 million during the quarter, compared to analysts’ expectations of $214.06 million. MarketAxess had a net margin of 29.14% and a return on equity of 20.88%. The firm’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.73 EPS. Equities research analysts predict that MarketAxess Holdings Inc. will post 8.15 EPS for the current year.

Institutional Trading of MarketAxess

A number of institutional investors have recently modified their holdings of the company. Fifth Third Bancorp grew its holdings in shares of MarketAxess by 1.8% during the 3rd quarter. Fifth Third Bancorp now owns 3,323 shares of the financial services provider’s stock worth $579,000 after purchasing an additional 60 shares during the period. Jones Financial Companies Lllp grew its holdings in shares of MarketAxess by 4.2% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,676 shares of the financial services provider’s stock worth $302,000 after purchasing an additional 67 shares during the period. Ancora Advisors LLC grew its holdings in shares of MarketAxess by 1.9% during the 3rd quarter. Ancora Advisors LLC now owns 3,522 shares of the financial services provider’s stock worth $614,000 after purchasing an additional 67 shares during the period. Orion Porfolio Solutions LLC grew its holdings in shares of MarketAxess by 1.7% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 4,203 shares of the financial services provider’s stock worth $939,000 after purchasing an additional 69 shares during the period. Finally, Krilogy Financial LLC grew its holdings in shares of MarketAxess by 1.0% during the 1st quarter. Krilogy Financial LLC now owns 7,884 shares of the financial services provider’s stock worth $1,368,000 after purchasing an additional 77 shares during the period. 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.