MarketAxess (NASDAQ:MKTX) Price Target Lowered to $295.00 at UBS Group

MarketAxess (NASDAQ:MKTX) had its price target reduced by equities researchers at UBS Group from $305.00 to $295.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. UBS Group’s price target points to a potential upside of 40.89% from the company’s current price.

MKTX has been the topic of several other reports. The Goldman Sachs Group dropped their target price on MarketAxess from $235.00 to $210.00 and set a “neutral” rating on the stock in a research report on Monday, February 10th. Piper Sandler cut their price objective 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. Bank of America lifted their target price on shares of MarketAxess from $189.00 to $191.00 and gave the company an “underperform” rating in a research note on Wednesday, April 2nd. Barclays increased their target price on shares of MarketAxess from $225.00 to $232.00 and gave the stock an “equal weight” rating in a research report on Monday. Finally, William Blair began coverage on MarketAxess in a research note on Friday. They set an “outperform” rating for the company. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $255.11.

MarketAxess Stock Performance

Shares of MKTX stock traded down $3.56 during trading on Monday, hitting $209.39. 603,948 shares of the company were exchanged, compared to its average volume of 470,960. The business’s 50-day simple moving average is $206.64 and its 200 day simple moving average is $237.41. MarketAxess has a twelve month low of $186.84 and a twelve month high of $296.68. The firm has a market capitalization of $7.89 billion, a price-to-earnings ratio of 28.80, a P/E/G ratio of 3.89 and a beta of 1.12.

MarketAxess (NASDAQ:MKTX) last issued its earnings results on Thursday, February 6th. The financial services provider reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.03. MarketAxess had a net margin of 33.56% and a return on equity of 20.23%. On average, equities analysts forecast that MarketAxess will post 7.79 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MarketAxess

Several large investors have recently bought and sold shares of the stock. Norges Bank bought a new position in shares of MarketAxess during the 4th quarter worth about $119,095,000. FMR LLC raised its holdings in shares of MarketAxess by 17.4% in the 4th quarter. FMR LLC now owns 2,300,536 shares of the financial services provider’s stock worth $520,013,000 after buying an additional 341,493 shares in the last quarter. Congress Asset Management Co. bought a new position in shares of MarketAxess during the fourth quarter valued at $71,103,000. Van ECK Associates Corp boosted its position in MarketAxess by 13.4% in the fourth quarter. Van ECK Associates Corp now owns 2,000,736 shares of the financial services provider’s stock valued at $452,246,000 after buying an additional 236,497 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. increased its holdings in shares of MarketAxess by 11.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,298,409 shares of the financial services provider’s stock worth $519,533,000 after buying an additional 236,118 shares in the last quarter. 99.01% of the stock is currently owned by institutional investors and hedge funds.

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.