MarketAxess (NASDAQ:MKTX) Price Target Lowered to $237.00 at Barclays

by · The Markets Daily

MarketAxess (NASDAQ:MKTX – Free Report) had its price target reduced by Barclays from $240.00 to $237.00 in a research note issued to investors on Thursday,Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

Several other research analysts have also recently weighed in on the stock. Morgan Stanley boosted their price target on shares of MarketAxess from $263.00 to $283.00 and gave the company an “overweight” rating in a research report on Thursday, May 8th. William Blair initiated coverage on shares of MarketAxess in a research report on Friday, April 4th. They set an “outperform” rating on the stock. Citigroup boosted their price target on shares of MarketAxess from $250.00 to $265.00 and gave the company a “buy” rating in a research report on Thursday, May 8th. Keefe, Bruyette & Woods boosted their price target on shares of MarketAxess from $223.00 to $226.00 and gave the company a “market perform” rating in a research report on Thursday, May 8th. Finally, Piper Sandler lowered their price target on shares of MarketAxess from $213.00 to $202.00 and set a “neutral” rating on the stock in a research report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $241.44.

Read Our Latest Report on MarketAxess

MarketAxess Stock Down 1.3%

Shares of MKTX opened at $216.05 on Thursday. MarketAxess has a 52-week low of $186.84 and a 52-week high of $296.68. The firm’s fifty day moving average is $220.66 and its two-hundred day moving average is $215.63. The stock has a market cap of $8.10 billion, a PE ratio of 37.57, a price-to-earnings-growth ratio of 2.80 and a beta of 0.85.

MarketAxess (NASDAQ:MKTX – Get Free Report) last announced its earnings results on Wednesday, May 7th. The financial services provider reported $1.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.05. The company had revenue of $208.58 million for the quarter, compared to analysts’ expectations of $211.81 million. MarketAxess had a net margin of 26.57% and a return on equity of 19.93%. The firm’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.92 EPS. As a group, research analysts anticipate that MarketAxess will post 7.79 earnings per share for the current year.

MarketAxess Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 4th. Investors of record on Wednesday, May 21st were issued a $0.76 dividend. The ex-dividend date was Wednesday, May 21st. This represents a $3.04 annualized dividend and a yield of 1.41%. MarketAxess’s dividend payout ratio (DPR) is currently 52.87%.

Institutional Trading of MarketAxess

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Geneos Wealth Management Inc. increased its stake in MarketAxess by 200.0% during the first quarter. Geneos Wealth Management Inc. now owns 120 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 80 shares during the period. Allianz SE purchased a new stake in MarketAxess during the fourth quarter worth about $27,000. Smartleaf Asset Management LLC increased its stake in MarketAxess by 495.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 125 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 104 shares during the period. MassMutual Private Wealth & Trust FSB increased its stake in MarketAxess by 49.1% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 164 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 54 shares during the period. Finally, Huntington National Bank increased its stake in MarketAxess by 185.7% during the fourth quarter. Huntington National Bank now owns 160 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 104 shares during the period. 99.01% of the stock is currently owned by hedge funds and other institutional investors.

MarketAxess Company Profile

(Get Free Report)

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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