The Goldman Sachs Group Issues Pessimistic Forecast for MarketAxess (NASDAQ:MKTX) Stock Price

MarketAxess (NASDAQ:MKTX) had its price target lowered by The Goldman Sachs Group from $235.00 to $210.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. The Goldman Sachs Group’s price target would suggest a potential upside of 7.54% from the company’s current price.

Several other equities research analysts have also recently weighed in on the company. UBS Group decreased their target price on MarketAxess from $330.00 to $305.00 and set a “buy” rating for the company in a research note on Friday, February 7th. Deutsche Bank Aktiengesellschaft upped their target price on shares of MarketAxess from $258.00 to $264.00 and gave the company a “hold” rating in a report on Monday, November 11th. Piper Sandler cut their price target on shares of MarketAxess from $265.00 to $240.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Morgan Stanley upped their price objective on shares of MarketAxess from $262.00 to $314.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Finally, Keefe, Bruyette & Woods cut their target price on MarketAxess from $251.00 to $225.00 and set a “market perform” rating on the stock in a research report on Friday, February 7th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, MarketAxess currently has a consensus rating of “Hold” and an average price target of $254.78.

MarketAxess Trading Down 0.5 %

Shares of MKTX opened at $195.27 on Monday. The firm has a market capitalization of $7.36 billion, a price-to-earnings ratio of 26.86, a PEG ratio of 4.08 and a beta of 1.02. The firm’s fifty day simple moving average is $223.92 and its 200-day simple moving average is $246.83. MarketAxess has a twelve month low of $191.91 and a twelve month high of $296.68.

MarketAxess (NASDAQ:MKTX) last posted its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.70 by $0.03. MarketAxess had a return on equity of 20.23% and a net margin of 33.56%. On average, analysts predict that MarketAxess will post 8.05 earnings per share for the current fiscal year.

Insider Buying and Selling at MarketAxess

In related news, Chairman Richard M. Mcvey sold 10,000 shares of the firm’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $267.67, for a total value of $2,676,700.00. Following the completion of the sale, the chairman now owns 562,029 shares in the company, valued at $150,438,302.43. This trade represents a 1.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Scott Pintoff sold 300 shares of MarketAxess stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $240.57, for a total value of $72,171.00. Following the completion of the sale, the general counsel now directly owns 8,302 shares in the company, valued at $1,997,212.14. This represents a 3.49 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.66% of the company’s stock.

Institutional Trading of MarketAxess

Several hedge funds have recently modified their holdings of MKTX. Park Avenue Securities LLC purchased a new position in MarketAxess in the third quarter worth $261,000. GAMMA Investing LLC increased its holdings in shares of MarketAxess by 128.2% in the 3rd quarter. GAMMA Investing LLC now owns 502 shares of the financial services provider’s stock valued at $129,000 after purchasing an additional 282 shares in the last quarter. CWM LLC lifted its stake in shares of MarketAxess by 39.5% in the third quarter. CWM LLC now owns 759 shares of the financial services provider’s stock valued at $194,000 after purchasing an additional 215 shares during the period. Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in MarketAxess by 555.6% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 236 shares of the financial services provider’s stock worth $60,000 after buying an additional 200 shares in the last quarter. Finally, Gateway Investment Advisers LLC acquired a new position in MarketAxess during the third quarter worth about $202,000. 99.01% of the stock is owned by institutional investors and hedge funds.

About MarketAxess

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.