Barclays Issues Pessimistic Forecast for MarketAxess (NASDAQ:MKTX) Stock Price

MarketAxess (NASDAQ:MKTX) had its target price cut by research analysts at Barclays from $260.00 to $256.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the financial services provider’s stock. Barclays‘s price objective would indicate a potential upside of 18.17% from the stock’s previous close.

Other analysts also recently issued research reports about the company. UBS Group raised their price target on shares of MarketAxess from $330.00 to $335.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Piper Sandler dropped their target price on MarketAxess from $265.00 to $240.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Morgan Stanley lifted their price target on MarketAxess from $262.00 to $314.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Citigroup increased their price target on MarketAxess from $310.00 to $325.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Finally, The Goldman Sachs Group boosted their price objective on MarketAxess from $204.00 to $233.00 and gave the company a “neutral” rating in a research report on Monday, September 30th. 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’s stock. Based on data from MarketBeat, MarketAxess currently has an average rating of “Hold” and an average price target of $261.30.

MarketAxess Stock Down 0.1 %

MKTX opened at $216.63 on Monday. The company has a market cap of $8.17 billion, a P/E ratio of 29.35, a price-to-earnings-growth ratio of 9.49 and a beta of 1.03. MarketAxess has a 52-week low of $192.42 and a 52-week high of $296.68. The firm’s 50-day moving average price is $245.29 and its 200-day moving average price is $246.29.

MarketAxess (NASDAQ:MKTX) last released its earnings results on Wednesday, November 6th. The financial services provider reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.05. MarketAxess had a return on equity of 20.93% and a net margin of 34.32%. The firm had revenue of $206.70 million during the quarter, compared to the consensus estimate of $207.17 million. During the same quarter in the previous year, the company posted $1.46 earnings per share. The company’s revenue was up 20.0% compared to the same quarter last year. On average, research analysts anticipate that MarketAxess will post 7.38 EPS for the current fiscal year.

Insider Buying and Selling at MarketAxess

In other news, Chairman Richard M. Mcvey sold 20,000 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $271.75, for a total transaction of $5,435,000.00. Following the completion of the transaction, the chairman now directly owns 592,029 shares in the company, valued at approximately $160,883,880.75. This represents a 3.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Scott Pintoff sold 300 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $240.57, for a total value of $72,171.00. Following the sale, the general counsel now directly owns 8,302 shares of the company’s stock, valued at $1,997,212.14. The trade was a 3.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,300 shares of company stock worth $8,183,871 in the last three months. 2.66% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On MarketAxess

A number of hedge funds have recently added to or reduced their stakes in the business. Accent Capital Management LLC acquired a new stake in shares of MarketAxess in the 3rd quarter valued at $25,000. Goodman Advisory Group LLC purchased a new stake in MarketAxess during the 2nd quarter worth about $27,000. Exchange Traded Concepts LLC purchased a new stake in MarketAxess during the 3rd quarter worth about $54,000. Livforsakringsbolaget Skandia Omsesidigt boosted its position in shares of MarketAxess by 555.6% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 236 shares of the financial services provider’s stock worth $60,000 after acquiring an additional 200 shares in the last quarter. Finally, Assetmark Inc. increased its holdings in shares of MarketAxess by 160.3% in the 3rd quarter. Assetmark Inc. now owns 380 shares of the financial services provider’s stock valued at $97,000 after acquiring an additional 234 shares during the last quarter. 99.01% of the stock is currently 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.