MarketAxess (NASDAQ:MKTX) Lowered to Buy at BidaskClub

MarketAxess (NASDAQ:MKTX) was downgraded by BidaskClub from a “strong-buy” rating to a “buy” rating in a report issued on Friday, BidAskClub reports.

Other analysts also recently issued research reports about the company. Rosenblatt Securities began coverage on MarketAxess in a research note on Monday, April 15th. They issued a “neutral” rating and a $255.00 price objective on the stock. Barclays boosted their price objective on MarketAxess from $218.00 to $244.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 25th. Zacks Investment Research raised MarketAxess from a “sell” rating to a “hold” rating in a research note on Saturday, April 13th. Buckingham Research boosted their price objective on MarketAxess from $241.00 to $245.00 and gave the stock an “underperform” rating in a research note on Wednesday, June 5th. Finally, ValuEngine raised MarketAxess from a “buy” rating to a “strong-buy” rating in a research note on Monday, June 3rd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $234.14.

Shares of MarketAxess stock opened at $317.67 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 10.82 and a current ratio of 10.82. The firm has a market cap of $12.26 billion, a price-to-earnings ratio of 69.51, a price-to-earnings-growth ratio of 12.56 and a beta of 0.19. MarketAxess has a 1-year low of $172.09 and a 1-year high of $342.98.

MarketAxess (NASDAQ:MKTX) last posted its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $1.39 EPS for the quarter, topping the Zacks’ consensus estimate of $1.37 by $0.02. MarketAxess had a return on equity of 29.88% and a net margin of 39.84%. The company had revenue of $124.49 million for the quarter, compared to the consensus estimate of $125.43 million. During the same quarter in the previous year, the business earned $1.27 EPS. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. On average, research analysts forecast that MarketAxess will post 5.18 EPS for the current fiscal year.

In other news, insider Nicholas Themelis sold 1,489 shares of the business’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $265.61, for a total transaction of $395,493.29. Following the sale, the insider now directly owns 53,564 shares of the company’s stock, valued at $14,227,134.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stephen P. Casper sold 102 shares of the business’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $337.30, for a total value of $34,404.60. Following the sale, the director now directly owns 13,157 shares in the company, valued at $4,437,856.10. The disclosure for this sale can be found here. Insiders have sold 27,591 shares of company stock worth $7,719,158 over the last ninety days. 3.52% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of MKTX. Baillie Gifford & Co. grew its stake in MarketAxess by 0.5% in the first quarter. Baillie Gifford & Co. now owns 4,036,695 shares of the financial services provider’s stock valued at $993,350,000 after purchasing an additional 18,413 shares in the last quarter. BlackRock Inc. grew its stake in MarketAxess by 1.3% in the first quarter. BlackRock Inc. now owns 3,525,278 shares of the financial services provider’s stock valued at $867,502,000 after purchasing an additional 45,814 shares in the last quarter. Vanguard Group Inc grew its stake in MarketAxess by 1.6% in the third quarter. Vanguard Group Inc now owns 3,174,912 shares of the financial services provider’s stock valued at $566,689,000 after purchasing an additional 48,627 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its stake in MarketAxess by 0.4% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,762,317 shares of the financial services provider’s stock valued at $433,673,000 after purchasing an additional 6,566 shares in the last quarter. Finally, Wells Fargo & Company MN grew its stake in MarketAxess by 8.3% in the first quarter. Wells Fargo & Company MN now owns 1,413,736 shares of the financial services provider’s stock valued at $347,891,000 after purchasing an additional 107,796 shares in the last quarter. Institutional investors and hedge funds own 99.19% of the company’s stock.

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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