MarketAxess (NASDAQ:MKTX) Receives New Price Target of $285.00 at Piper Sandler
MarketAxess (NASDAQ:MKTX – Get a Rating) had its price target reduced by Piper Sandler stock research analysts from $300.00 to $285.00 in a report on Friday, reports The Fly. The brokerage currently has a “neutral” rating on the shares of the financial services provider. Piper Sandler’s target price suggests a potential upside of 10.56% from the stock’s previous close.
A number of other analysts also commented on MKTX. Rosenblatt Securities raised its price target on MarketAxess from $383.00 to $395.00 and gave the company a “buy” rating in a Thursday, April 21 research note. Atlantic Securities cut its price target on MarketAxess from $340.00 to $306.00 and set a “neutral” rating on the stock in a Friday, June 10 research note. Jefferies Financial Group cut its price target on MarketAxess from $315.00 to $300.00 and placed a “hold” rating on the stock in a Monday, June 27 research note. Credit Suisse Group cut its price target on MarketAxess from $332.00 to $316.00 and set a “neutral” rating on the stock in a Monday, April 25 research note. Finally, Raymond James downgraded MarketAxess from an “outperform” rating to a “market performance” rating in a Wednesday, April 6 research note. Nine equity research analysts gave the stock a hold rating and one gave the company a buy rating. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $331.00.
NASDAQ: MKTX opened at $257.77 on Friday. The stock’s 50-day simple moving average is $269.83 and its 200-day simple moving average is $325.37. The company has a market capitalization of $9.65 billion, a PE ratio of 40.47 and a beta of 0.55. MarketAxess has a 12-month low of $249.01 and a 12-month high of $498.97.
MarketAxess (NASDAQ:MKTX – Get Rating) last released its quarterly earnings data on Wednesday, April 20. The financial services provider reported earnings per share of $1.73 for the quarter, beating the consensus estimate of $1.70 by $0.03. The company posted revenue of $186.10 million for the quarter, versus analyst estimates of $186.34 million. MarketAxess had a return on equity of 23.46% and a net margin of 35.13%. MarketAxess revenue was down 4.8% compared to the same quarter last year. During the same period last year, the firm posted earnings per share of $2.11. As a group, sell-side analysts expect MarketAxess to post EPS of 7.02 for the current fiscal year.
In related news, director Richard Leon Prager bought 1,000 shares of the company in a trade that took place on Friday, April 22. The shares were acquired at an average cost of $271.25 per share, with a total value of $271,250.00. Following the completion of the purchase, the administrator now directly owns 2,149 shares of the company, valued at $582,916.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this hyperlink. Additionally, insider Christophe Pierre Danie Rupie sold 1,740 shares in a trade on Tuesday, June 7. The stock was sold at an average price of $285.03, for a total transaction of $495,952.20. Following the transaction, the insider now directly owns 5,318 shares of the company, valued at $1,515,789.54. The disclosure of this sale can be found here. Company insiders own 1.94% of the company’s shares.
Institutional investors have recently increased or reduced their stake in the company. Standard Family Office LLC bought a new stock position from MarketAxess in the first quarter worth $27,000. South Dakota’s Sageworth Trust Co bought a new stock position from MarketAxess in the fourth quarter worth $39,000. CVA Family Office LLC bought a new position in shares of MarketAxess in the fourth quarter worth $60,000. JJJ Advisors Inc. increased its stake in MarketAxess shares by 198.4% in the fourth quarter. JJJ Advisors Inc. now owns 188 shares of the financial services provider valued at $77,000 after buying an additional 125 shares in the last quarter. Finally, PFG Private Wealth Management LLC increased its equity stake in MarketAxess by 24.8% in the fourth quarter. PFG Private Wealth Management LLC now owns 201 shares of the financial services provider valued at $83,000 after buying 40 more shares last quarter. 96.50% of the shares are currently held by hedge funds and other institutional investors.
MarketAxess Company Profile (Get a rating)
MarketAxess Holdings Inc, together with its subsidiaries, operates an electronic trading platform for institutional investors and brokerage firms worldwide. It provides access to liquidity in investment-grade US bonds, US high-yield bonds and US Treasuries, as well as municipal bonds, emerging market debt, Eurobonds and other fixed-income securities. fixed income.
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