MarketAxess (NASDAQ:MKTX) PT Lowered to $225.00

MarketAxess (NASDAQ:MKTX) had its price target cut by stock analysts at Piper Sandler from $230.00 to $225.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. Piper Sandler’s target price would suggest a potential upside of 11.93% from the company’s current price.

Other equities research analysts have also issued research reports about the stock. UBS Group decreased their price objective on shares of MarketAxess from $305.00 to $285.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. Bank of America started coverage on MarketAxess in a research note on Wednesday, April 10th. They issued an “underperform” rating and a $199.00 price objective on the stock. Keefe, Bruyette & Woods decreased their target price on MarketAxess from $235.00 to $230.00 and set a “market perform” rating for the company in a research report on Wednesday, May 8th. Morgan Stanley increased their price target on MarketAxess from $278.00 to $279.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. Finally, Barclays lowered their price objective on shares of MarketAxess from $236.00 to $225.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 8th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, MarketAxess presently has an average rating of “Hold” and an average target price of $248.64.

MarketAxess Stock Performance

MKTX opened at $201.01 on Wednesday. The stock’s 50 day moving average price is $203.21 and its 200-day moving average price is $225.58. MarketAxess has a one year low of $192.42 and a one year high of $297.97. The stock has a market cap of $7.62 billion, a price-to-earnings ratio of 29.52, a P/E/G ratio of 4.86 and a beta of 1.03.

MarketAxess (NASDAQ:MKTX) last announced its quarterly earnings data on Tuesday, May 7th. The financial services provider reported $1.92 EPS for the quarter, beating the consensus estimate of $1.85 by $0.07. MarketAxess had a return on equity of 20.82% and a net margin of 33.83%. The company had revenue of $210.30 million for the quarter, compared to the consensus estimate of $212.99 million. During the same quarter in the prior year, the company posted $1.96 EPS. MarketAxess’s quarterly revenue was up 3.5% on a year-over-year basis. As a group, analysts predict that MarketAxess will post 7.17 earnings per share for the current fiscal year.

Insider Buying and Selling at MarketAxess

In related news, Director Stephen P. Casper sold 500 shares of the stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $199.48, for a total value of $99,740.00. Following the completion of the transaction, the director now directly owns 10,201 shares of the company’s stock, valued at approximately $2,034,895.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.66% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On MarketAxess

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Allworth Financial LP increased its holdings in shares of MarketAxess by 347.6% in the fourth quarter. Allworth Financial LP now owns 94 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 73 shares during the period. Gladius Capital Management LP boosted its holdings in shares of MarketAxess by 39.6% in the 3rd quarter. Gladius Capital Management LP now owns 134 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 38 shares during the last quarter. Venturi Wealth Management LLC increased its stake 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 worth $32,000 after acquiring an additional 134 shares during the period. Parallel Advisors LLC increased its stake 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 worth $32,000 after acquiring an additional 67 shares during the period. Finally, Massmutual Trust Co. FSB ADV raised its holdings 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 last quarter. Hedge funds and other institutional investors own 99.01% of the company’s stock.

About MarketAxess

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.