MarketAxess (NASDAQ:MKTX) Stock Price Expected to Rise, Bank of America Analyst Says

MarketAxess (NASDAQ:MKTX) had its price target lifted by analysts at Bank of America from $189.00 to $191.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an “underperform” rating on the financial services provider’s stock. Bank of America‘s price objective indicates a potential downside of 9.80% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on MKTX. Keefe, Bruyette & Woods dropped their price objective on shares of MarketAxess from $251.00 to $225.00 and set a “market perform” rating for the company in a research note on Friday, February 7th. UBS Group dropped their price target on shares of MarketAxess from $330.00 to $305.00 and set a “buy” rating for the company in a research report on Friday, February 7th. Barclays decreased their price objective on MarketAxess from $256.00 to $225.00 and set an “equal weight” rating on the stock in a report on Friday, February 7th. The Goldman Sachs Group lowered their price objective on MarketAxess from $235.00 to $210.00 and set a “neutral” rating on the stock in a research note on Monday, February 10th. Finally, Piper Sandler cut their target price on MarketAxess from $265.00 to $240.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, MarketAxess currently has a consensus rating of “Hold” and an average price target of $255.44.

MarketAxess Trading Down 1.9 %

MKTX stock traded down $4.16 during trading on Wednesday, reaching $211.76. 200,713 shares of the stock were exchanged, compared to its average volume of 461,726. MarketAxess has a twelve month low of $186.84 and a twelve month high of $296.68. The company has a market capitalization of $7.98 billion, a P/E ratio of 29.13, a price-to-earnings-growth ratio of 3.89 and a beta of 1.05. The stock has a 50 day simple moving average of $207.37 and a 200-day simple moving average of $238.37.

MarketAxess (NASDAQ:MKTX) last released its quarterly earnings data on Thursday, February 6th. The financial services provider reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.03. MarketAxess had a return on equity of 20.23% and a net margin of 33.56%. Equities analysts predict that MarketAxess will post 7.79 EPS for the current year.

Institutional Trading of MarketAxess

Hedge funds have recently modified their holdings of the stock. Public Sector Pension Investment Board lifted its holdings in MarketAxess by 3.1% during the 3rd quarter. Public Sector Pension Investment Board now owns 6,607 shares of the financial services provider’s stock worth $1,693,000 after buying an additional 200 shares in the last quarter. Captrust Financial Advisors lifted its stake in shares of MarketAxess by 5.6% during the third quarter. Captrust Financial Advisors now owns 2,804 shares of the financial services provider’s stock valued at $718,000 after acquiring an additional 148 shares during the period. Edgestream Partners L.P. bought a new position in MarketAxess in the third quarter valued at about $614,000. Centiva Capital LP acquired a new stake in MarketAxess in the third quarter worth about $332,000. Finally, Investment Management Corp of Ontario acquired a new stake in MarketAxess in the third quarter worth about $308,000. 99.01% of the stock is owned by institutional investors.

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.