The Goldman Sachs Group Cuts MarketAxess (NASDAQ:MKTX) Price Target to $130.00

by · The Markets Daily

MarketAxess (NASDAQ:MKTX – Get Free Report) had its price target reduced by equities research analysts at The Goldman Sachs Group from $168.00 to $130.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. The Goldman Sachs Group’s price target suggests a potential upside of 18.26% from the company’s previous close.

Other equities research analysts also recently issued reports about the company. Weiss Ratings downgraded MarketAxess from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, May 6th. Bank of America raised MarketAxess from an “underperform” rating to a “neutral” rating and set a $170.00 target price for the company in a research note on Friday, June 12th. Keefe, Bruyette & Woods assumed coverage on shares of MarketAxess in a report on Wednesday, April 8th. They set an “outperform” rating and a $195.00 target price on the stock. Barclays lowered their price objective on shares of MarketAxess from $189.00 to $170.00 and set an “equal weight” rating for the company in a research report on Monday, May 11th. Finally, UBS Group dropped their price target on MarketAxess from $225.00 to $215.00 and set a “buy” rating on the stock in a research note on Monday, May 11th. Two analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, MarketAxess currently has a consensus rating of “Hold” and a consensus price target of $178.27.

Check Out Our Latest Analysis on MKTX

MarketAxess Stock Down 2.3%

Shares of MarketAxess stock opened at $109.93 on Tuesday. The company has a quick ratio of 2.17, a current ratio of 2.17 and a debt-to-equity ratio of 0.19. MarketAxess has a 12 month low of $108.75 and a 12 month high of $225.07. The business has a fifty day simple moving average of $135.40 and a 200 day simple moving average of $161.68. The stock has a market cap of $3.91 billion, a PE ratio of 12.99, a price-to-earnings-growth ratio of 3.64 and a beta of 0.86.

MarketAxess (NASDAQ:MKTX – Get Free Report) last released its earnings results on Thursday, May 7th. The financial services provider reported $2.25 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.10. The firm had revenue of $233.38 million for the quarter, compared to analyst estimates of $231.91 million. MarketAxess had a return on equity of 22.28% and a net margin of 35.53%.The company’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.87 earnings per share. Research analysts predict that MarketAxess will post 8 EPS for the current year.

Institutional Investors Weigh In On MarketAxess

A number of institutional investors have recently modified their holdings of MKTX. Jones Financial Companies Lllp boosted its holdings in MarketAxess by 151.0% in the 1st quarter. Jones Financial Companies Lllp now owns 2,683 shares of the financial services provider’s stock valued at $580,000 after purchasing an additional 1,614 shares during the period. Empowered Funds LLC boosted its stake in shares of MarketAxess by 8.4% in the first quarter. Empowered Funds LLC now owns 1,716 shares of the financial services provider’s stock valued at $371,000 after buying an additional 133 shares during the period. Woodline Partners LP boosted its stake in shares of MarketAxess by 40.7% in the first quarter. Woodline Partners LP now owns 3,185 shares of the financial services provider’s stock valued at $689,000 after buying an additional 921 shares during the period. Geneos Wealth Management Inc. grew its position in MarketAxess by 200.0% during the first quarter. Geneos Wealth Management Inc. now owns 120 shares of the financial services provider’s stock worth $26,000 after buying an additional 80 shares in the last quarter. Finally, Sivia Capital Partners LLC acquired a new position in MarketAxess in the 2nd quarter valued at $406,000. Institutional investors own 99.01% of the company’s stock.

About MarketAxess

(Get Free Report)

MarketAxess Holdings Inc operates a leading global electronic trading platform specializing in fixed-income securities and related products. The company’s network enables institutional investors and broker-dealers to trade corporate bonds, municipal securities, emerging markets debt, U.S. Treasuries and credit default swaps in an automated, multi-dealer environment. MarketAxess also offers portfolio trading, data analytics, best-execution tools and post-trade services to streamline workflows and enhance price discovery across its marketplace.

In addition to core voice-like trading protocols, MarketAxess provides Open Trading®, an anonymous, all-to-all trading protocol designed to improve liquidity and transaction efficiency.

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