MarketAxess (NASDAQ:MKTX) Given New $268.00 Price Target at Barclays

10 Oct 2024, 09:42 by Danessa Lincoln · The Markets Daily

MarketAxess (NASDAQ:MKTX – Free Report) had its target price raised by Barclays from $237.00 to $268.00 in a research report released on Monday morning, Benzinga reports. The firm currently has an equal weight rating on the financial services provider’s stock.

MKTX has been the subject of a number of other research reports. The Goldman Sachs Group lifted their price objective on shares of MarketAxess from $204.00 to $233.00 and gave the company a neutral rating in a report on Monday, September 30th. Bank of America dropped their price target on shares of MarketAxess from $193.00 to $185.00 and set an underperform rating for the company in a research note on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft increased their price objective on MarketAxess from $218.00 to $223.00 and gave the company a hold rating in a research note on Thursday, August 15th. StockNews.com raised MarketAxess from a sell rating to a hold rating in a research note on Wednesday, August 7th. Finally, Citigroup upped their price target on MarketAxess from $310.00 to $325.00 and gave the stock a buy rating in a report on Friday, October 4th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $249.80.

Read Our Latest Research Report on MarketAxess

MarketAxess Stock Down 0.2 %

Shares of NASDAQ MKTX opened at $275.41 on Monday. The company has a quick ratio of 2.91, a current ratio of 2.91 and a debt-to-equity ratio of 0.01. The business’s 50 day moving average is $248.09 and its two-hundred day moving average is $222.52. MarketAxess has a 52-week low of $192.42 and a 52-week high of $297.97. The firm has a market cap of $10.44 billion, a price-to-earnings ratio of 40.44, a PEG ratio of 6.04 and a beta of 1.08.

MarketAxess (NASDAQ:MKTX – Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.04. The firm had revenue of $197.70 million for the quarter, compared to the consensus estimate of $198.07 million. MarketAxess had a return on equity of 20.43% and a net margin of 33.71%. The company’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.63 EPS. Research analysts predict that MarketAxess will post 7.06 EPS for the current year.

MarketAxess announced that its Board of Directors has authorized a share repurchase plan on Tuesday, August 6th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the financial services provider to purchase up to 2.8% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

MarketAxess Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Wednesday, August 21st were issued a $0.74 dividend. This is a boost from MarketAxess’s previous quarterly dividend of $0.20. The ex-dividend date was Wednesday, August 21st. This represents a $2.96 annualized dividend and a dividend yield of 1.07%. MarketAxess’s dividend payout ratio is presently 43.47%.

Insider Activity at MarketAxess

In related news, insider Christophe Pierre Danie Roupie sold 617 shares of the company’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $231.63, for a total value of $142,915.71. Following the completion of the sale, the insider now directly owns 7,409 shares of the company’s stock, valued at $1,716,146.67. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.66% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On MarketAxess

Several large investors have recently modified their holdings of MKTX. Goodman Advisory Group LLC acquired a new stake in shares of MarketAxess in the second quarter valued at approximately $27,000. Larson Financial Group LLC boosted its holdings in shares of MarketAxess by 2,428.6% in the first quarter. Larson Financial Group LLC now owns 177 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 170 shares during the period. Blue Trust Inc. boosted its holdings in shares of MarketAxess by 405.1% in the second quarter. Blue Trust Inc. now owns 197 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 158 shares during the period. CVA Family Office LLC boosted its holdings in shares of MarketAxess by 47.4% in the second quarter. CVA Family Office LLC now owns 252 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 81 shares during the period. Finally, Riverview Trust Co acquired a new stake in shares of MarketAxess in the first quarter valued at approximately $68,000. 99.01% of the stock is owned by institutional investors and hedge funds.

MarketAxess Company Profile

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