MarketAxess (NASDAQ:MKTX) Price Target Cut to $256.00 by Analysts at Barclays

MarketAxess (NASDAQ:MKTX) had its price objective dropped by Barclays from $260.00 to $256.00 in a report issued on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the financial services provider’s stock. Barclays‘s price target points to a potential upside of 19.24% from the company’s current price.

Other equities analysts have also recently issued research reports about the stock. Piper Sandler reduced their price target on shares of MarketAxess from $265.00 to $240.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Citigroup increased their target price on MarketAxess from $310.00 to $325.00 and gave the stock a “buy” rating in a report on Friday, October 4th. Keefe, Bruyette & Woods decreased their target price on MarketAxess from $276.00 to $255.00 and set a “market perform” rating for the company in a research report on Friday, December 20th. The Goldman Sachs Group upped their price target on MarketAxess from $204.00 to $233.00 and gave the company a “neutral” rating in a research report on Monday, September 30th. Finally, Morgan Stanley increased their target price on shares of MarketAxess from $262.00 to $314.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, MarketAxess presently has an average rating of “Hold” and a consensus price target of $261.70.

MarketAxess Stock Down 0.4 %

Shares of NASDAQ MKTX opened at $214.70 on Monday. MarketAxess has a fifty-two week low of $192.42 and a fifty-two week high of $296.68. The business has a 50 day moving average price of $246.71 and a two-hundred day moving average price of $245.82. The firm has a market cap of $8.10 billion, a PE ratio of 29.09, a price-to-earnings-growth ratio of 9.49 and a beta of 1.03.

MarketAxess (NASDAQ:MKTX) last released its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $1.90 earnings per share 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 business had revenue of $206.70 million during the quarter, compared to the consensus estimate of $207.17 million. During the same quarter last year, the company earned $1.46 earnings per share. The business’s quarterly revenue was up 20.0% compared to the same quarter last year. On average, analysts anticipate that MarketAxess will post 7.38 earnings per share for the current year.

Insider Transactions at MarketAxess

In other news, General Counsel Scott Pintoff sold 300 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $240.57, for a total transaction of $72,171.00. Following the transaction, the general counsel now directly owns 8,302 shares of the company’s stock, valued at approximately $1,997,212.14. This trade represents a 3.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Richard M. Mcvey sold 10,000 shares of the company’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $267.67, for a total transaction of $2,676,700.00. Following the completion of the sale, the chairman now directly owns 562,029 shares of the company’s stock, valued at $150,438,302.43. The trade was a 1.75 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 30,300 shares of company stock worth $8,183,871. Company insiders own 2.66% of the company’s stock.

Institutional Trading of MarketAxess

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in MarketAxess during the third quarter worth approximately $1,966,000. First Hawaiian Bank bought a new stake in shares of MarketAxess in the 4th quarter worth $1,088,000. Principal Financial Group Inc. raised its stake in shares of MarketAxess by 22.9% in the 3rd quarter. Principal Financial Group Inc. now owns 55,679 shares of the financial services provider’s stock worth $14,265,000 after buying an additional 10,361 shares in the last quarter. Geneva Capital Management LLC lifted its holdings in shares of MarketAxess by 25.6% in the third quarter. Geneva Capital Management LLC now owns 15,325 shares of the financial services provider’s stock valued at $3,926,000 after buying an additional 3,121 shares during the period. Finally, Nordea Investment Management AB boosted its stake in MarketAxess by 461.5% during the fourth quarter. Nordea Investment Management AB now owns 57,876 shares of the financial services provider’s stock valued at $13,041,000 after buying an additional 47,568 shares in the last quarter. 99.01% of the stock is currently owned by institutional investors.

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.