Jefferies Financial Group Has Lowered Expectations for MarketAxess (NASDAQ:MKTX) Stock Price

MarketAxess (NASDAQ:MKTX) had its price objective reduced by equities researchers at Jefferies Financial Group from $217.00 to $208.00 in a report released on Monday,Benzinga reports. The brokerage presently has a “hold” rating on the financial services provider’s stock. Jefferies Financial Group’s target price would suggest a potential upside of 10.51% from the company’s current price.

A number of other brokerages have also weighed in on MKTX. Citigroup raised their price objective on MarketAxess from $250.00 to $265.00 and gave the company a “buy” rating in a research report on Thursday, May 8th. Wall Street Zen upgraded MarketAxess from a “sell” rating to a “hold” rating in a research report on Saturday. Piper Sandler restated a “neutral” rating and set a $204.00 price objective (up previously from $202.00) on shares of MarketAxess in a research report on Tuesday, July 15th. Keefe, Bruyette & Woods raised their price objective on MarketAxess from $223.00 to $226.00 and gave the company a “market perform” rating in a research report on Thursday, May 8th. Finally, Morgan Stanley cut their price objective on MarketAxess from $283.00 to $274.00 and set an “overweight” rating for the company in a research report on Tuesday, July 15th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, MarketAxess has a consensus rating of “Hold” and a consensus target price of $229.70.

MarketAxess Stock Performance

Shares of MKTX stock opened at $188.22 on Monday. MarketAxess has a 52-week low of $182.99 and a 52-week high of $296.68. The firm has a market capitalization of $7.03 billion, a PE ratio of 31.69, a PEG ratio of 3.60 and a beta of 0.84. The stock has a fifty day simple moving average of $214.48 and a two-hundred day simple moving average of $212.97.

MarketAxess (NASDAQ:MKTX) last issued its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $2.00 earnings per share for the quarter, beating analysts’ consensus estimates of $1.94 by $0.06. The firm had revenue of $219.46 million during the quarter, compared to analyst estimates of $218.05 million. MarketAxess had a return on equity of 20.41% and a net margin of 26.62%. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.72 earnings per share. On average, sell-side analysts forecast that MarketAxess will post 7.79 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in MKTX. Comerica Bank lifted its stake in MarketAxess by 0.9% in the first quarter. Comerica Bank now owns 5,181 shares of the financial services provider’s stock worth $1,121,000 after purchasing an additional 48 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its stake in MarketAxess by 1.0% in the second quarter. DekaBank Deutsche Girozentrale now owns 5,080 shares of the financial services provider’s stock worth $1,105,000 after purchasing an additional 51 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in MarketAxess by 49.1% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 164 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 54 shares during the last quarter. State of Wyoming lifted its stake in MarketAxess by 13.6% in the fourth quarter. State of Wyoming now owns 483 shares of the financial services provider’s stock worth $109,000 after purchasing an additional 58 shares during the last quarter. Finally, Federated Hermes Inc. lifted its stake in MarketAxess by 13.0% in the first quarter. Federated Hermes Inc. now owns 522 shares of the financial services provider’s stock worth $113,000 after purchasing an additional 60 shares during the last quarter. Institutional investors own 99.01% of the company’s stock.

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.