MarketAxess (NASDAQ:MKTX - Get Free Report) had its price target increased by equities research analysts at The Goldman Sachs Group from $204.00 to $233.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has a "neutral" rating on the financial services provider's stock. The Goldman Sachs Group's price objective indicates a potential downside of 8.57% from the company's current price.
MKTX has been the subject of a number of other reports. Keefe, Bruyette & Woods increased their price objective on shares of MarketAxess from $222.00 to $225.00 and gave the stock a "market perform" rating in a research note on Wednesday, August 7th. Piper Sandler restated a "neutral" rating and issued a $225.00 price target on shares of MarketAxess in a research note on Tuesday, August 6th. StockNews.com raised MarketAxess from a "sell" rating to a "hold" rating in a research report on Wednesday, August 7th. Barclays reduced their price target on MarketAxess from $225.00 to $215.00 and set an "equal weight" rating for the company in a report on Wednesday, July 10th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on MarketAxess from $218.00 to $223.00 and gave the company a "hold" rating in a research note on Thursday, August 15th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $239.40.
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NASDAQ MKTX opened at $254.84 on Monday. MarketAxess has a 52 week low of $192.42 and a 52 week high of $297.97. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.91 and a current ratio of 2.91. The stock's 50 day moving average price is $240.88 and its two-hundred day moving average price is $219.83. The stock has a market capitalization of $9.66 billion, a price-to-earnings ratio of 37.42, a PEG ratio of 6.04 and a beta of 1.07.
MarketAxess (NASDAQ:MKTX - Get Free Report) last announced its quarterly earnings data on Tuesday, August 6th. The financial services provider reported $1.72 EPS for the quarter, topping analysts' consensus estimates of $1.68 by $0.04. The business had revenue of $197.70 million for the quarter, compared to analyst estimates of $198.07 million. MarketAxess had a net margin of 33.71% and a return on equity of 20.43%. The firm's revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.63 earnings per share. As a group, analysts anticipate that MarketAxess will post 7.06 earnings per share for the current fiscal year.
MarketAxess declared that its Board of Directors has approved a stock repurchase plan on Tuesday, August 6th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the financial services provider to purchase up to 2.8% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its shares are undervalued.
In other news, insider Christophe Pierre Danie Roupie sold 617 shares of MarketAxess stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $231.63, for a total value of $142,915.71. Following the transaction, the insider now owns 7,409 shares in the company, valued at approximately $1,716,146.67. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 2.66% of the company's stock.
A number of hedge funds have recently made changes to their positions in MKTX. Sanctuary Advisors LLC bought a new position in MarketAxess in the 2nd quarter valued at approximately $6,204,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of MarketAxess by 4.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,616 shares of the financial services provider's stock worth $324,000 after buying an additional 76 shares in the last quarter. Algert Global LLC lifted its stake in shares of MarketAxess by 4.3% in the 2nd quarter. Algert Global LLC now owns 15,530 shares of the financial services provider's stock valued at $3,114,000 after acquiring an additional 635 shares during the last quarter. Goodman Advisory Group LLC acquired a new stake in shares of MarketAxess during the 2nd quarter valued at $27,000. Finally, Scientech Research LLC bought a new stake in MarketAxess during the 2nd quarter worth $1,066,000. 99.01% of the stock is currently owned by institutional investors and hedge funds.
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.
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