Deutsche Bank Aktiengesellschaft Issues Positive Forecast for MarketAxess (NASDAQ:MKTX) Stock Price

by · The Markets Daily

MarketAxess (NASDAQ:MKTX – Get Free Report) had its price objective boosted by analysts at Deutsche Bank Aktiengesellschaft from $258.00 to $264.00 in a research note issued on Monday,Benzinga reports. The firm currently has a “hold” rating on the financial services provider’s stock. Deutsche Bank Aktiengesellschaft’s price target suggests a potential downside of 4.73% from the stock’s previous close.

A number of other research analysts also recently issued reports on the stock. Barclays boosted their price target on shares of MarketAxess from $237.00 to $268.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. UBS Group upped their target price on MarketAxess from $330.00 to $335.00 and gave the company a “buy” rating in a research report on Thursday. Bank of America dropped their price target on MarketAxess from $193.00 to $185.00 and set an “underperform” rating on the stock in a research note on Thursday, October 3rd. Morgan Stanley lifted 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 raised their price target on shares of MarketAxess from $270.00 to $276.00 and gave the stock a “market perform” rating in a report on Thursday. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $267.50.

Get Our Latest Stock Analysis on MKTX

MarketAxess Stock Performance

Shares of MarketAxess stock traded up $2.43 on Monday, hitting $277.11. The stock had a trading volume of 54,048 shares, compared to its average volume of 407,187. The stock has a 50 day moving average of $270.50 and a 200 day moving average of $233.69. MarketAxess has a twelve month low of $192.42 and a twelve month high of $297.97. The firm has a market capitalization of $10.45 billion, a P/E ratio of 37.57, a PEG ratio of 8.55 and a beta of 1.05.

MarketAxess (NASDAQ:MKTX – Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.05. MarketAxess had a net margin of 34.32% and a return on equity of 20.93%. The company had revenue of $206.70 million for the quarter, compared to analyst estimates of $207.17 million. During the same quarter in the previous year, the business earned $1.46 earnings per share. MarketAxess’s revenue was up 20.0% compared to the same quarter last year. Equities analysts expect that MarketAxess will post 7.33 earnings per share for the current year.

MarketAxess announced that its Board of Directors has approved a stock buyback plan on Tuesday, August 6th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the financial services provider to buy up to 2.8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Kingsview Wealth Management LLC purchased a new position in shares of MarketAxess in the 1st quarter worth approximately $7,866,000. SG Americas Securities LLC increased its position in shares of MarketAxess by 174.2% during the 1st quarter. SG Americas Securities LLC now owns 6,743 shares of the financial services provider’s stock valued at $1,478,000 after purchasing an additional 4,284 shares during the last quarter. Entropy Technologies LP bought a new stake in shares of MarketAxess during the 1st quarter worth $882,000. ProShare Advisors LLC increased its holdings in MarketAxess by 48.4% during the first quarter. ProShare Advisors LLC now owns 11,615 shares of the financial services provider’s stock worth $2,547,000 after buying an additional 3,787 shares during the last quarter. Finally, Natixis purchased a new stake in MarketAxess during the first quarter worth about $842,000. 99.01% of the stock is currently owned by hedge funds and other institutional investors.

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. 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.

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