The Goldman Sachs Group Lowers MarketAxess (NASDAQ:MKTX) Price Target to $225.00

MarketAxess (NASDAQ:MKTXGet Free Report) had its target price cut by stock analysts at The Goldman Sachs Group from $263.00 to $225.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. The Goldman Sachs Group’s price objective suggests a potential upside of 0.13% from the company’s current price.

MKTX has been the topic of a number of other research reports. William Blair reiterated an “outperform” rating on shares of MarketAxess in a research report on Tuesday, January 23rd. Barclays cut MarketAxess from an “overweight” rating to an “equal weight” rating and boosted their price target for the company from $246.00 to $291.00 in a research report on Monday, January 8th. Citigroup boosted their price target on MarketAxess from $270.00 to $300.00 and gave the company a “buy” rating in a research report on Wednesday, December 6th. StockNews.com upgraded MarketAxess from a “sell” rating to a “hold” rating in a research report on Wednesday, November 1st. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on MarketAxess from $254.00 to $242.00 and set a “hold” rating on the stock in a research report on Wednesday, October 11th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, MarketAxess currently has a consensus rating of “Hold” and a consensus target price of $266.89.

View Our Latest Stock Report on MarketAxess

MarketAxess Price Performance

MarketAxess stock opened at $224.71 on Thursday. The stock’s fifty day moving average is $267.70 and its two-hundred day moving average is $246.07. MarketAxess has a 1-year low of $200.01 and a 1-year high of $399.78. The stock has a market cap of $8.52 billion, a PE ratio of 32.80, a P/E/G ratio of 3.68 and a beta of 1.02.

MarketAxess (NASDAQ:MKTXGet Free Report) last posted its earnings results on Wednesday, January 31st. The financial services provider reported $1.84 EPS for the quarter, topping analysts’ consensus estimates of $1.73 by $0.11. MarketAxess had a return on equity of 21.76% and a net margin of 34.29%. The business had revenue of $197.20 million for the quarter, compared to analysts’ expectations of $196.70 million. During the same quarter in the previous year, the firm earned $1.58 earnings per share. The business’s revenue was up 10.8% compared to the same quarter last year. On average, research analysts expect that MarketAxess will post 7.61 earnings per share for the current fiscal year.

Insider Buying and Selling at MarketAxess

In other news, CRO Kevin M. Mcpherson sold 920 shares of the business’s stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $260.50, for a total transaction of $239,660.00. Following the sale, the executive now owns 68,959 shares of the company’s stock, valued at approximately $17,963,819.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CRO Kevin M. Mcpherson sold 1,020 shares of the business’s stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $230.95, for a total transaction of $235,569.00. Following the sale, the executive now owns 69,879 shares of the company’s stock, valued at approximately $16,138,555.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO Kevin M. Mcpherson sold 920 shares of the business’s stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $260.50, for a total value of $239,660.00. Following the sale, the executive now directly owns 68,959 shares in the company, valued at approximately $17,963,819.50. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MKTX. Van ECK Associates Corp raised its position in shares of MarketAxess by 146.4% during the 3rd quarter. Van ECK Associates Corp now owns 1,265,784 shares of the financial services provider’s stock worth $270,422,000 after purchasing an additional 752,111 shares during the last quarter. BlackRock Inc. raised its position in shares of MarketAxess by 18.3% during the 1st quarter. BlackRock Inc. now owns 3,928,679 shares of the financial services provider’s stock worth $1,537,253,000 after purchasing an additional 608,107 shares during the last quarter. FMR LLC raised its position in shares of MarketAxess by 385.6% during the 3rd quarter. FMR LLC now owns 545,563 shares of the financial services provider’s stock worth $116,554,000 after purchasing an additional 433,217 shares during the last quarter. Norges Bank acquired a new position in shares of MarketAxess during the 4th quarter worth approximately $110,636,000. Finally, Eagle Asset Management Inc. raised its position in shares of MarketAxess by 138.8% during the 4th quarter. Eagle Asset Management Inc. now owns 627,692 shares of the financial services provider’s stock worth $178,810,000 after purchasing an additional 364,829 shares during the last quarter. 99.01% of the stock is currently owned by institutional investors and hedge funds.

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. It offers the access to liquidity in the U.S. investment-grade bonds, U.S. high-yield bonds, and U.S. Treasuries, as well as municipal bonds, emerging market debts, Eurobonds, and other fixed-income securities.

Further Reading

Analyst Recommendations for MarketAxess (NASDAQ:MKTX)

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