Analysts Set MarketAxess Holdings Inc. (NASDAQ:MKTX) Target Price at $240.50

14 Oct 2024, 08:54 by Doug Wharley · The Cerbat Gem

MarketAxess Holdings Inc. (NASDAQ:MKTX – Get Free Report) has received a consensus recommendation of “Hold” from the eleven ratings firms that are covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, six have given a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $249.80.

MKTX has been the subject of several recent research reports. Barclays increased their price objective on shares of MarketAxess from $237.00 to $268.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. The Goldman Sachs Group increased their price target on MarketAxess from $204.00 to $233.00 and gave the company a “neutral” rating in a report on Monday, September 30th. Citigroup boosted their price objective on MarketAxess from $310.00 to $325.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Bank of America lowered their target price on MarketAxess from $193.00 to $185.00 and set an “underperform” rating for the company in a research note on Thursday, October 3rd. Finally, Keefe, Bruyette & Woods boosted their price target on MarketAxess from $222.00 to $225.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 7th.

Check Out Our Latest Stock Report on MKTX

MarketAxess Stock Up 0.6 %

Shares of NASDAQ MKTX opened at $278.10 on Monday. The stock has a market capitalization of $10.50 billion, a PE ratio of 40.07, a P/E/G ratio of 7.24 and a beta of 1.08. 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 firm has a fifty day moving average of $250.06 and a 200-day moving average of $223.40. MarketAxess has a 52-week low of $192.42 and a 52-week high of $297.97.

MarketAxess (NASDAQ:MKTX – Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.04. The firm had revenue of $197.70 million during 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 firm’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 earnings per share. On average, analysts anticipate that MarketAxess will post 7.16 EPS for the current year.

MarketAxess declared that its board has approved a share buyback program on Tuesday, August 6th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the financial services provider to repurchase up to 2.8% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

MarketAxess Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Wednesday, August 21st were given a dividend of $0.74 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $2.96 dividend on an annualized basis and a dividend yield of 1.06%. This is an increase from MarketAxess’s previous quarterly dividend of $0.20. MarketAxess’s dividend payout ratio (DPR) is presently 42.65%.

Insider Transactions at MarketAxess

In related news, insider Christophe Pierre Danie Roupie sold 617 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $231.63, for a total transaction of $142,915.71. Following the sale, the insider now owns 7,409 shares in the company, valued at $1,716,146.67. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.66% of the company’s stock.

Institutional Trading of MarketAxess

Hedge funds have recently added to or reduced their stakes in the business. Creative Planning grew its stake in shares of MarketAxess by 8.6% in the third quarter. Creative Planning now owns 1,777 shares of the financial services provider’s stock worth $455,000 after purchasing an additional 141 shares in the last quarter. Sound Income Strategies LLC lifted its holdings in MarketAxess by 41.8% in the third quarter. Sound Income Strategies LLC now owns 912 shares of the financial services provider’s stock worth $234,000 after purchasing an additional 269 shares during the period. Exchange Traded Concepts LLC bought a new position in MarketAxess in the 3rd quarter valued at about $54,000. Gateway Investment Advisers LLC acquired a new position in MarketAxess during the 3rd quarter valued at about $202,000. Finally, Covea Finance raised its position in shares of MarketAxess by 149.1% during the 3rd quarter. Covea Finance now owns 13,700 shares of the financial services provider’s stock worth $3,510,000 after buying an additional 8,200 shares in the last quarter. Institutional investors own 99.01% of the company’s stock.

MarketAxess Company Profile

(Get Free Report