MarketAxess (NASDAQ:MKTX) Upgraded to “Strong-Buy” by BidaskClub

BidaskClub upgraded shares of MarketAxess (NASDAQ:MKTX) from a buy rating to a strong-buy rating in a research note published on Tuesday, BidAskClub reports.

Several other equities analysts have also issued reports on the stock. Rosenblatt Securities started coverage on shares of Tradeweb Markets in a report on Monday, April 15th. They issued a buy rating and a $45.00 price target on the stock. ValuEngine lowered shares of Intersect ENT from a buy rating to a hold rating in a report on Monday, June 3rd. Zacks Investment Research raised shares of Zymeworks from a hold rating to a buy rating and set a $18.00 price target on the stock in a report on Saturday, April 13th. Barclays reiterated an underweight rating and set a GBX 1,900 ($24.83) price objective on shares of in a research note on Friday, June 28th. Finally, Buckingham Research lowered their price objective on shares of State Street from $83.00 to $67.00 and set a buy rating for the company in a research note on Wednesday, June 12th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a strong buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $240.57.

Shares of MKTX stock opened at $358.28 on Tuesday. The stock has a market capitalization of $13.51 billion, a price-to-earnings ratio of 78.40, a price-to-earnings-growth ratio of 13.52 and a beta of 0.22. The company’s 50 day simple moving average is $321.12. The company has a current ratio of 10.82, a quick ratio of 10.82 and a debt-to-equity ratio of 0.14. MarketAxess has a 52-week low of $172.09 and a 52-week high of $359.32.

MarketAxess (NASDAQ:MKTX) last issued its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.37 by $0.02. The company had revenue of $124.49 million for the quarter, compared to analyst estimates of $125.43 million. MarketAxess had a net margin of 39.84% and a return on equity of 29.88%. MarketAxess’s revenue was up 8.5% compared to the same quarter last year. During the same period last year, the company posted $1.27 earnings per share. On average, analysts anticipate that MarketAxess will post 5.25 EPS for the current fiscal year.

In other MarketAxess news, CEO Richard M. Mcvey sold 20,000 shares of MarketAxess stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $281.14, for a total value of $5,622,800.00. Following the completion of the transaction, the chief executive officer now owns 1,006,289 shares of the company’s stock, valued at $282,908,089.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Stephen P. Casper sold 102 shares of MarketAxess stock in a transaction on Friday, June 7th. The shares were sold at an average price of $337.30, for a total transaction of $34,404.60. Following the completion of the transaction, the director now directly owns 13,157 shares of the company’s stock, valued at approximately $4,437,856.10. The disclosure for this sale can be found here. Insiders have sold 27,591 shares of company stock valued at $7,719,158 over the last 90 days. 3.28% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MKTX. PNC Financial Services Group Inc. increased its holdings in MarketAxess by 286.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,627 shares of the financial services provider’s stock valued at $977,000 after buying an additional 3,429 shares in the last quarter. Great West Life Assurance Co. Can increased its holdings in MarketAxess by 15.0% in the fourth quarter. Great West Life Assurance Co. Can now owns 32,277 shares of the financial services provider’s stock valued at $6,478,000 after buying an additional 4,222 shares in the last quarter. Hsbc Holdings PLC increased its holdings in MarketAxess by 151.3% in the fourth quarter. Hsbc Holdings PLC now owns 13,659 shares of the financial services provider’s stock valued at $2,869,000 after buying an additional 8,223 shares in the last quarter. Townsquare Capital LLC purchased a new position in MarketAxess in the fourth quarter valued at $235,000. Finally, Dimensional Fund Advisors LP increased its holdings in MarketAxess by 6.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 199,012 shares of the financial services provider’s stock valued at $42,050,000 after buying an additional 12,096 shares in the last quarter. 99.19% of the stock is owned by institutional investors.

MarketAxess Company Profile

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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