MarketAxess (NASDAQ:MKTX) Price Target Lowered to $240.00 at Piper Sandler

MarketAxess (NASDAQ:MKTX) had its price objective reduced by investment analysts at Piper Sandler from $265.00 to $240.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. Piper Sandler’s price target indicates a potential upside of 7.94% from the company’s current price.

MKTX has been the subject of a number of other reports. Keefe, Bruyette & Woods decreased their price target on shares of MarketAxess from $276.00 to $255.00 and set a “market perform” rating for the company in a research note on Friday, December 20th. Citigroup raised their target price on MarketAxess from $310.00 to $325.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Barclays reduced their price target on MarketAxess from $289.00 to $260.00 and set an “equal weight” rating on the stock in a research note on Monday, December 9th. Deutsche Bank Aktiengesellschaft raised their price objective on MarketAxess from $258.00 to $264.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Finally, UBS Group upped their target price on shares of MarketAxess from $330.00 to $335.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $262.10.

MarketAxess Stock Performance

Shares of MKTX stock opened at $222.34 on Tuesday. MarketAxess has a fifty-two week low of $192.42 and a fifty-two week high of $296.68. The firm has a market cap of $8.38 billion, a P/E ratio of 30.13, a P/E/G ratio of 9.49 and a beta of 1.03. The business’s 50 day moving average price is $252.49 and its 200-day moving average price is $245.51.

MarketAxess (NASDAQ:MKTX) last released its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.05. MarketAxess had a net margin of 34.32% and a return on equity of 20.93%. The business had revenue of $206.70 million for the quarter, compared to analysts’ expectations of $207.17 million. During the same quarter in the previous year, the business posted $1.46 earnings per share. The firm’s revenue for the quarter was up 20.0% compared to the same quarter last year. As a group, equities analysts predict that MarketAxess will post 7.38 EPS for the current year.

Insider Buying and Selling at MarketAxess

In related news, General Counsel Scott Pintoff sold 300 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $240.57, for a total transaction of $72,171.00. Following the sale, the general counsel now directly owns 8,302 shares of the company’s stock, valued at $1,997,212.14. This trade represents a 3.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Richard M. Mcvey sold 20,000 shares of the business’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $271.75, for a total value of $5,435,000.00. Following the completion of the transaction, the chairman now directly owns 592,029 shares of the company’s stock, valued at approximately $160,883,880.75. This trade represents a 3.27 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,300 shares of company stock worth $8,183,871. 2.66% of the stock is owned by corporate insiders.

Institutional Trading of MarketAxess

Large investors have recently made changes to their positions in the stock. Commonwealth Equity Services LLC purchased a new stake in MarketAxess in the second quarter worth approximately $881,000. National Bank of Canada FI boosted its stake in shares of MarketAxess by 22.5% in the 2nd quarter. National Bank of Canada FI now owns 10,247 shares of the financial services provider’s stock worth $1,982,000 after buying an additional 1,880 shares during the last quarter. Candriam S.C.A. grew its holdings in shares of MarketAxess by 8.4% in the second quarter. Candriam S.C.A. now owns 2,662 shares of the financial services provider’s stock worth $534,000 after acquiring an additional 207 shares during the period. Acadian Asset Management LLC purchased a new stake in MarketAxess during the second quarter valued at $236,000. Finally, Quest Partners LLC lifted its holdings in MarketAxess by 263.1% in the second quarter. Quest Partners LLC now owns 1,950 shares of the financial services provider’s stock valued at $391,000 after acquiring an additional 1,413 shares during the period. 99.01% of the stock is currently owned by institutional investors.

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.