Buckingham Research Increases MarketAxess (NASDAQ:MKTX) Price Target to $249.00

MarketAxess (NASDAQ:MKTX) had its target price boosted by Buckingham Research from $241.00 to $249.00 in a report issued on Thursday, BenzingaRatingsTable reports. The firm presently has an “underperform” rating on the financial services provider’s stock. Buckingham Research’s target price indicates a potential downside of 25.57% from the company’s current price.

A number of other brokerages have also issued reports on MKTX. Jefferies Financial Group upped their price objective on shares of MarketAxess from $318.00 to $339.00 and gave the company a “hold” rating in a report on Friday, September 27th. Argus assumed coverage on shares of MarketAxess in a report on Thursday, August 29th. They issued a “hold” rating for the company. Deutsche Bank upped their price objective on shares of MarketAxess from $332.00 to $336.00 and gave the company a “hold” rating in a report on Wednesday, August 14th. ValuEngine lowered shares of MarketAxess from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, BidaskClub lowered shares of MarketAxess from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 12th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company’s stock. MarketAxess presently has an average rating of “Hold” and an average target price of $288.17.

Shares of NASDAQ MKTX traded up $15.81 during mid-day trading on Thursday, reaching $334.54. The company’s stock had a trading volume of 7,872 shares, compared to its average volume of 492,067. The stock has a 50-day moving average of $365.01 and a two-hundred day moving average of $317.30. The stock has a market capitalization of $12.37 billion, a P/E ratio of 72.98 and a beta of 0.15. The company has a debt-to-equity ratio of 0.14, a quick ratio of 10.05 and a current ratio of 10.05. MarketAxess has a 1-year low of $177.14 and a 1-year high of $421.45.

MarketAxess (NASDAQ:MKTX) last announced its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $1.27 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.30 by ($0.03). MarketAxess had a net margin of 39.89% and a return on equity of 29.85%. The firm had revenue of $125.50 million during the quarter, compared to analysts’ expectations of $126.06 million. During the same period in the prior year, the company posted $1.07 EPS. The company’s revenue for the quarter was up 17.4% compared to the same quarter last year. Analysts predict that MarketAxess will post 5.22 EPS for the current fiscal year.

In related news, Director Richard Leon Prager bought 1,000 shares of the stock in a transaction on Thursday, August 15th. The stock was bought at an average price of $358.49 per share, with a total value of $358,490.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Richard M. Mcvey sold 20,000 shares of the stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $350.07, for a total transaction of $7,001,400.00. Following the transaction, the chief executive officer now directly owns 1,044,249 shares of the company’s stock, valued at approximately $365,560,247.43. The disclosure for this sale can be found here. Insiders sold 23,750 shares of company stock valued at $8,359,543 in the last three months. 3.28% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in MKTX. JPMorgan Chase & Co. boosted its stake in MarketAxess by 221.7% during the second quarter. JPMorgan Chase & Co. now owns 857,638 shares of the financial services provider’s stock worth $271,304,000 after buying an additional 591,073 shares during the period. Baillie Gifford & Co. boosted its stake in MarketAxess by 8.4% during the second quarter. Baillie Gifford & Co. now owns 4,375,906 shares of the financial services provider’s stock worth $1,406,504,000 after buying an additional 339,211 shares during the period. Nuveen Asset Management LLC purchased a new position in MarketAxess during the second quarter worth about $56,479,000. Natixis boosted its stake in MarketAxess by 91.8% during the second quarter. Natixis now owns 301,784 shares of the financial services provider’s stock worth $96,999,000 after buying an additional 144,431 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. purchased a new position in MarketAxess during the second quarter worth about $46,326,000. 99.77% of the stock is owned by institutional investors.

About MarketAxess

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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