MarketAxess (NASDAQ:MKTX) Given New $260.00 Price Target at Barclays

MarketAxess (NASDAQ:MKTXGet Free Report) had its price objective decreased by investment analysts at Barclays from $289.00 to $260.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the financial services provider’s stock. Barclays‘s price objective would suggest a potential upside of 8.36% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on the stock. UBS Group upped their price target on shares of MarketAxess from $330.00 to $335.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft upped their target price on MarketAxess from $258.00 to $264.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Citigroup lifted their price target on MarketAxess from $310.00 to $325.00 and gave the company a “buy” rating in a report on Friday, October 4th. Keefe, Bruyette & Woods boosted their price target on MarketAxess from $270.00 to $276.00 and gave the stock a “market perform” rating in a research report on Thursday, November 7th. Finally, Bank of America dropped their price objective on MarketAxess from $193.00 to $185.00 and set an “underperform” rating on the stock in a research report on Thursday, October 3rd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, MarketAxess presently has an average rating of “Hold” and an average price target of $266.70.

Read Our Latest Research Report on MKTX

MarketAxess Stock Down 1.7 %

NASDAQ:MKTX traded down $4.03 during midday trading on Monday, hitting $239.93. The stock had a trading volume of 573,586 shares, compared to its average volume of 395,897. The stock has a 50-day moving average of $273.02 and a 200 day moving average of $241.22. The company has a market capitalization of $9.05 billion, a price-to-earnings ratio of 32.51, a PEG ratio of 10.78 and a beta of 1.00. MarketAxess has a one year low of $192.42 and a one year high of $297.97.

MarketAxess (NASDAQ:MKTXGet Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.05. The business had revenue of $206.70 million for the quarter, compared to the consensus estimate of $207.17 million. MarketAxess had a return on equity of 20.93% and a net margin of 34.32%. The business’s revenue was up 20.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.46 EPS. On average, sell-side analysts anticipate that MarketAxess will post 7.37 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Chairman Richard M. Mcvey sold 20,000 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $271.75, for a total transaction of $5,435,000.00. Following the sale, the chairman now directly owns 592,029 shares of the company’s stock, valued at $160,883,880.75. This represents a 3.27 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 2.66% of the company’s stock.

Institutional Investors Weigh In On MarketAxess

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Franklin Resources Inc. grew its position in shares of MarketAxess by 242.7% in the third quarter. Franklin Resources Inc. now owns 8,215 shares of the financial services provider’s stock valued at $2,337,000 after purchasing an additional 5,818 shares during the period. Pine Valley Investments Ltd Liability Co boosted its holdings in MarketAxess by 3.7% in the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 10,304 shares of the financial services provider’s stock worth $2,640,000 after buying an additional 369 shares during the last quarter. Virtu Financial LLC purchased a new stake in MarketAxess during the 3rd quarter worth approximately $836,000. Toronto Dominion Bank raised its holdings in shares of MarketAxess by 0.8% during the third quarter. Toronto Dominion Bank now owns 24,737 shares of the financial services provider’s stock valued at $6,338,000 after acquiring an additional 193 shares during the last quarter. Finally, Coldstream Capital Management Inc. lifted its position in shares of MarketAxess by 4.7% in the third quarter. Coldstream Capital Management Inc. now owns 9,645 shares of the financial services provider’s stock valued at $2,471,000 after acquiring an additional 437 shares in the last quarter. Hedge funds and other institutional investors own 99.01% of the company’s stock.

About MarketAxess

(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.

See Also

Analyst Recommendations for MarketAxess (NASDAQ:MKTX)

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