Barclays Forecasts Strong Price Appreciation for MarketAxess (NASDAQ:MKTX) Stock

MarketAxess (NASDAQ:MKTX) had its target price upped by equities researchers at Barclays from $225.00 to $232.00 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 suggests a potential upside of 12.47% from the company’s previous close.

Other analysts have also issued reports about the company. Bank of America boosted their price target on MarketAxess from $189.00 to $191.00 and gave the company an “underperform” rating in a report on Wednesday, April 2nd. Piper Sandler reduced their price target on MarketAxess from $265.00 to $240.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. William Blair began coverage on shares of MarketAxess in a research note on Friday. They set an “outperform” rating for the company. The Goldman Sachs Group cut their price objective on shares of MarketAxess from $235.00 to $210.00 and set a “neutral” rating on the stock in a research report on Monday, February 10th. Finally, Keefe, Bruyette & Woods decreased their target price on shares of MarketAxess from $251.00 to $225.00 and set a “market perform” rating for the company in a research report on Friday, February 7th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, MarketAxess presently has an average rating of “Hold” and an average target price of $252.11.

MarketAxess Stock Performance

Shares of MKTX stock opened at $206.27 on Monday. MarketAxess has a 52 week low of $186.84 and a 52 week high of $296.68. The company’s 50 day moving average price is $205.70 and its two-hundred day moving average price is $236.47. The company has a market capitalization of $7.77 billion, a P/E ratio of 28.37, a price-to-earnings-growth ratio of 3.89 and a beta of 1.12.

MarketAxess (NASDAQ:MKTX) last issued its quarterly earnings data on Thursday, February 6th. The financial services provider reported $1.73 EPS for the quarter, topping 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%. Analysts forecast that MarketAxess will post 7.79 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Global X Japan Co. Ltd. grew its holdings in MarketAxess by 179.5% during the fourth quarter. Global X Japan Co. Ltd. now owns 109 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 70 shares during the period. Allianz SE bought a new stake in MarketAxess in the fourth quarter valued at approximately $27,000. Smartleaf Asset Management LLC lifted its position in shares of MarketAxess by 495.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 125 shares of the financial services provider’s stock valued at $28,000 after buying an additional 104 shares during the last quarter. SRS Capital Advisors Inc. boosted its stake in shares of MarketAxess by 13,900.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 140 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 139 shares during the period. Finally, Huntington National Bank increased its holdings in shares of MarketAxess by 185.7% during the 4th quarter. Huntington National Bank now owns 160 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 104 shares during the last quarter. 99.01% of the stock is currently 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.