MarketAxess (NASDAQ:MKTX) Price Target Raised to $191.00 at Bank of America

MarketAxess (NASDAQ:MKTX) had its price objective lifted by analysts at Bank of America from $189.00 to $191.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “underperform” rating on the financial services provider’s stock. Bank of America‘s price target would indicate a potential downside of 9.80% from the company’s current price.

A number of other equities analysts have also issued reports on the stock. Piper Sandler decreased their target price on shares of MarketAxess from $265.00 to $240.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Barclays decreased their price objective on shares of MarketAxess from $256.00 to $225.00 and set an “equal weight” rating for the company in a report on Friday, February 7th. Keefe, Bruyette & Woods dropped their target price on MarketAxess from $251.00 to $225.00 and set a “market perform” rating on the stock in a report on Friday, February 7th. The Goldman Sachs Group decreased their price target on MarketAxess from $235.00 to $210.00 and set a “neutral” rating for the company in a research note on Monday, February 10th. Finally, UBS Group dropped their price objective on MarketAxess from $330.00 to $305.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, MarketAxess currently has a consensus rating of “Hold” and an average target price of $255.44.

MarketAxess Stock Performance

Shares of MKTX traded down $4.16 during mid-day trading on Wednesday, reaching $211.76. 200,713 shares of the company’s stock traded hands, compared to its average volume of 461,726. The business’s 50-day moving average price is $207.37 and its 200-day moving average price is $238.37. The stock has a market capitalization of $7.98 billion, a P/E ratio of 29.13, a price-to-earnings-growth ratio of 3.89 and a beta of 1.05. MarketAxess has a 12 month low of $186.84 and a 12 month high of $296.68.

MarketAxess (NASDAQ:MKTX) last announced its earnings results on Thursday, February 6th. The financial services provider reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.03. MarketAxess had a return on equity of 20.23% and a net margin of 33.56%. Equities research analysts anticipate that MarketAxess will post 7.79 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. First Hawaiian Bank bought a new position in shares of MarketAxess in the fourth quarter worth about $1,088,000. Charles Schwab Investment Management Inc. grew its holdings in MarketAxess by 1.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 363,224 shares of the financial services provider’s stock valued at $82,103,000 after buying an additional 5,153 shares during the last quarter. Keybank National Association OH grew its holdings in MarketAxess by 18.2% in the 4th quarter. Keybank National Association OH now owns 8,149 shares of the financial services provider’s stock valued at $1,842,000 after buying an additional 1,256 shares during the last quarter. Norden Group LLC bought a new position in MarketAxess in the 4th quarter worth approximately $539,000. Finally, Raymond James Financial Inc. acquired a new position in shares of MarketAxess during the fourth quarter worth approximately $46,079,000. Institutional investors and hedge funds 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.