MarketAxess (NASDAQ:MKTX) Upgraded at BidaskClub

BidaskClub upgraded shares of MarketAxess (NASDAQ:MKTX) from a buy rating to a strong-buy rating in a report released on Tuesday morning, BidAskClub reports.

MKTX has been the topic of several other research reports. Zacks Investment Research raised shares of Zymeworks from a hold rating to a buy rating and set a $18.00 price objective on the stock in a research report on Saturday, April 13th. Buckingham Research lowered their price objective on shares of State Street from $83.00 to $67.00 and set a buy rating on the stock in a research report on Wednesday, June 12th. ValuEngine lowered shares of Intersect ENT from a buy rating to a hold rating in a research report on Monday, June 3rd. Barclays reissued an underweight rating and issued a GBX 1,900 ($24.83) price target on shares of in a research report on Friday, June 28th. Finally, Rosenblatt Securities started coverage on shares of Tradeweb Markets in a research report on Monday, April 15th. They issued a buy rating and a $45.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a strong buy rating to the company’s stock. MarketAxess currently has an average rating of Hold and an average price target of $240.57.

Shares of MKTX stock opened at $354.53 on Tuesday. The company has a market capitalization of $13.17 billion, a price-to-earnings ratio of 77.58, a price-to-earnings-growth ratio of 13.37 and a beta of 0.22. The company has a current ratio of 10.82, a quick ratio of 10.82 and a debt-to-equity ratio of 0.14. MarketAxess has a 52 week low of $172.09 and a 52 week high of $356.28. The stock has a 50-day moving average of $319.81.

MarketAxess (NASDAQ:MKTX) last announced its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $1.39 EPS for the quarter, topping the consensus estimate of $1.37 by $0.02. The business had revenue of $124.49 million for the quarter, compared to analyst estimates of $125.43 million. MarketAxess had a net margin of 39.84% and a return on equity of 29.88%. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.27 earnings per share. As a group, analysts expect that MarketAxess will post 5.23 earnings per share for the current year.

In related news, Director Stephen P. Casper sold 102 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $337.30, for a total transaction of $34,404.60. Following the sale, the director now owns 13,157 shares of the company’s stock, valued at approximately $4,437,856.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kevin M. Mcpherson sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $278.50, for a total transaction of $1,114,000.00. Following the sale, the insider now directly owns 87,317 shares in the company, valued at approximately $24,317,784.50. The disclosure for this sale can be found here. In the last three months, insiders sold 27,591 shares of company stock worth $7,719,158. Insiders own 3.28% of the company’s stock.

A number of institutional investors have recently bought and sold shares of MKTX. Norges Bank bought a new stake in MarketAxess during the 4th quarter worth approximately $84,529,000. Baillie Gifford & Co. increased its holdings in MarketAxess by 9.1% during the 4th quarter. Baillie Gifford & Co. now owns 4,018,282 shares of the financial services provider’s stock worth $849,103,000 after acquiring an additional 335,795 shares during the period. JPMorgan Chase & Co. increased its holdings in MarketAxess by 737.8% during the 1st quarter. JPMorgan Chase & Co. now owns 266,565 shares of the financial services provider’s stock worth $65,595,000 after acquiring an additional 234,747 shares during the period. Ardevora Asset Management LLP bought a new stake in MarketAxess during the 1st quarter worth approximately $37,715,000. Finally, AJO LP bought a new stake in MarketAxess during the 1st quarter worth approximately $31,266,000. 99.19% 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 that enables fixed-income market participants to trade corporate bonds and other types of fixed-income instruments worldwide. It offers institutional investor and broker-dealer firms the access to global liquidity in U.S.

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Analyst Recommendations for MarketAxess (NASDAQ:MKTX)

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