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

MarketAxess (NASDAQ:MKTX) had its price target dropped by analysts at UBS Group from $305.00 to $295.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. UBS Group’s price target would suggest a potential upside of 43.02% from the stock’s current price.

Several other research analysts also recently issued reports on MKTX. Bank of America upped their price objective on MarketAxess from $189.00 to $191.00 and gave the stock an “underperform” rating in a report on Wednesday, April 2nd. Piper Sandler dropped their target price on MarketAxess from $265.00 to $240.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. William Blair initiated coverage on MarketAxess in a report on Friday. They set an “outperform” rating on the stock. The Goldman Sachs Group reduced their price objective on shares of MarketAxess from $235.00 to $210.00 and set a “neutral” rating for the company in a research report on Monday, February 10th. Finally, Keefe, Bruyette & Woods lowered their price target on shares of MarketAxess from $251.00 to $225.00 and set a “market perform” rating on the stock in a research report on Friday, February 7th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $252.11.

MarketAxess Stock Down 0.8 %

Shares of NASDAQ:MKTX opened at $206.27 on Monday. MarketAxess has a fifty-two week low of $186.84 and a fifty-two week high of $296.68. The company has a market cap of $7.77 billion, a PE ratio of 28.37, a P/E/G ratio of 3.89 and a beta of 1.12. The firm has a 50-day simple moving average of $205.70 and a 200 day simple moving average of $236.47.

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of MKTX. Global X Japan Co. Ltd. increased its holdings in shares of MarketAxess by 179.5% in the fourth 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 last quarter. Allianz SE bought a new position in shares of MarketAxess during the fourth quarter valued at approximately $27,000. Smartleaf Asset Management LLC lifted its position in shares of 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 buying an additional 104 shares during the last quarter. SRS Capital Advisors Inc. boosted its position in shares of MarketAxess by 13,900.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 140 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 139 shares in the last quarter. Finally, Huntington National Bank increased its stake in MarketAxess by 185.7% during the 4th quarter. Huntington National Bank now owns 160 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 104 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.