MarketAxess FY2024 EPS Forecast Reduced by William Blair

MarketAxess Holdings Inc. (NASDAQ:MKTX) – Analysts at William Blair decreased their FY2024 earnings estimates for MarketAxess in a research note issued on Monday, January 13th. William Blair analyst J. Schmitt now anticipates that the financial services provider will post earnings per share of $7.28 for the year, down from their prior forecast of $7.31. The consensus estimate for MarketAxess’ current full-year earnings is $7.29 per share. William Blair also issued estimates for MarketAxess’ Q4 2024 earnings at $1.73 EPS.

MarketAxess (NASDAQ:MKTX) last announced its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.05. MarketAxess had a return on equity of 20.93% and a net margin of 34.32%. 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 firm posted $1.46 EPS. The company’s quarterly revenue was up 20.0% on a year-over-year basis.

MKTX has been the topic of several other reports. Deutsche Bank Aktiengesellschaft increased their price target 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 dropped their price target on MarketAxess from $265.00 to $240.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Morgan Stanley upped their price objective on MarketAxess from $262.00 to $314.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Keefe, Bruyette & Woods dropped their target price on MarketAxess from $255.00 to $251.00 and set a “market perform” rating for the company in a report on Monday. Finally, UBS Group upped their price target on shares of MarketAxess from $330.00 to $335.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. 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 stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $261.30.

MarketAxess Stock Performance

NASDAQ MKTX opened at $217.82 on Thursday. The stock has a market cap of $8.21 billion, a PE ratio of 29.51, a P/E/G ratio of 6.67 and a beta of 1.03. The firm has a 50-day moving average of $242.90 and a 200-day moving average of $246.20. MarketAxess has a 52-week low of $192.42 and a 52-week high of $296.68.

Insider Activity at MarketAxess

In other MarketAxess news, Chairman Richard M. Mcvey sold 20,000 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $271.75, for a total value of $5,435,000.00. Following the sale, the chairman now owns 592,029 shares of the company’s stock, valued at approximately $160,883,880.75. This trade represents a 3.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel Scott Pintoff sold 300 shares of MarketAxess stock in a transaction 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 transaction, the general counsel now owns 8,302 shares in the company, valued at approximately $1,997,212.14. The trade was a 3.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,300 shares of company stock valued at $8,183,871 over the last quarter. 2.66% of the stock is owned by corporate insiders.

Institutional Trading of MarketAxess

Several large investors have recently bought and sold shares of MKTX. Accent Capital Management LLC acquired a new position in MarketAxess during the third quarter worth about $25,000. Goodman Advisory Group LLC acquired a new stake in shares of MarketAxess in the 2nd quarter valued at approximately $27,000. Exchange Traded Concepts LLC bought a new stake in shares of MarketAxess during the 3rd quarter valued at approximately $54,000. Livforsakringsbolaget Skandia Omsesidigt increased its position in MarketAxess by 555.6% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 236 shares of the financial services provider’s stock worth $60,000 after purchasing an additional 200 shares in the last quarter. Finally, Assetmark Inc. lifted its stake in MarketAxess by 160.3% in the 3rd quarter. Assetmark Inc. now owns 380 shares of the financial services provider’s stock valued at $97,000 after purchasing an additional 234 shares during the last quarter. 99.01% of the stock is owned by institutional investors and hedge funds.

MarketAxess Company Profile

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.