MarketAxess (NASDAQ:MKTX) Given New $265.00 Price Target at Citigroup

MarketAxess (NASDAQ:MKTX) had its price objective hoisted by equities researchers at Citigroup from $250.00 to $265.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. Citigroup’s target price suggests a potential upside of 14.73% from the stock’s previous close.

Several other analysts also recently issued reports on MKTX. William Blair assumed coverage on MarketAxess in a report on Friday, April 4th. They set an “outperform” rating on the stock. Keefe, Bruyette & Woods upped their price target on shares of MarketAxess from $223.00 to $226.00 and gave the company a “market perform” rating in a research report on Thursday. The Goldman Sachs Group lowered 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. Barclays increased their target price on MarketAxess from $232.00 to $240.00 and gave the company an “equal weight” rating in a report on Thursday. Finally, Piper Sandler lowered their price target on MarketAxess from $213.00 to $202.00 and set a “neutral” rating on the stock in a report on Thursday. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $241.78.

MarketAxess Price Performance

Shares of MKTX opened at $230.97 on Thursday. MarketAxess has a 12-month low of $186.84 and a 12-month high of $296.68. The stock has a market capitalization of $8.59 billion, a P/E ratio of 31.77, a P/E/G ratio of 3.89 and a beta of 0.89. The firm’s 50 day moving average is $216.59 and its 200-day moving average is $228.47.

MarketAxess (NASDAQ:MKTX) last announced its quarterly earnings data on Wednesday, May 7th. The financial services provider reported $1.87 EPS for the quarter, beating analysts’ consensus estimates of $1.82 by $0.05. The company had revenue of $208.58 million during the quarter, compared to the consensus estimate of $211.81 million. MarketAxess had a return on equity of 20.23% and a net margin of 33.56%. The company’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.92 EPS. As a group, equities research analysts forecast that MarketAxess will post 7.79 EPS for the current fiscal year.

Hedge Funds Weigh In On MarketAxess

Institutional investors and hedge funds have recently bought and sold shares of the stock. Global X Japan Co. Ltd. increased its holdings in shares of MarketAxess by 179.5% during the 4th 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 acquired a new stake in MarketAxess during the fourth quarter worth about $27,000. Smartleaf Asset Management LLC increased its stake in MarketAxess by 495.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 125 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 104 shares during the period. SRS Capital Advisors Inc. raised its holdings in MarketAxess by 13,900.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 140 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 139 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its holdings in MarketAxess by 49.1% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 164 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 54 shares in the last quarter. Institutional investors own 99.01% of the company’s stock.

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.