UBS Group Lowers MarketAxess (NASDAQ:MKTX) Price Target to $295.00

MarketAxess (NASDAQ:MKTX) had its target price dropped by analysts at UBS Group from $305.00 to $295.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. UBS Group’s price objective suggests a potential upside of 40.89% from the company’s current price.

A number of other equities research analysts also recently weighed in on MKTX. The Goldman Sachs Group lowered 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. Piper Sandler lowered their target price on MarketAxess from $265.00 to $240.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Keefe, Bruyette & Woods cut their price target on MarketAxess from $251.00 to $225.00 and set a “market perform” rating on the stock in a report on Friday, February 7th. Barclays upped their price objective on MarketAxess from $225.00 to $232.00 and gave the stock an “equal weight” rating in a research note on Monday. Finally, Bank of America raised their target price on MarketAxess from $189.00 to $191.00 and gave the company an “underperform” rating in a research note on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $255.11.

MarketAxess Price Performance

MKTX traded down $3.56 during trading on Monday, hitting $209.39. The company had a trading volume of 603,948 shares, compared to its average volume of 470,960. The company has a market cap of $7.89 billion, a PE ratio of 28.80, a P/E/G ratio of 3.89 and a beta of 1.12. MarketAxess has a 1-year low of $186.84 and a 1-year high of $296.68. The business has a 50-day moving average of $206.64 and a 200-day moving average of $237.41.

MarketAxess (NASDAQ:MKTX) last posted its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.73 earnings per share (EPS) 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%. Research analysts forecast that MarketAxess will post 7.79 earnings per share for the current year.

Hedge Funds Weigh In On MarketAxess

Hedge funds have recently modified their holdings of the company. Norges Bank acquired a new stake in MarketAxess during the 4th quarter worth about $119,095,000. FMR LLC lifted its position in shares of MarketAxess by 17.4% in the 4th quarter. FMR LLC now owns 2,300,536 shares of the financial services provider’s stock valued at $520,013,000 after acquiring an additional 341,493 shares in the last quarter. Congress Asset Management Co. purchased a new stake in shares of MarketAxess in the 4th quarter valued at approximately $71,103,000. Van ECK Associates Corp boosted its stake in MarketAxess by 13.4% in the 4th quarter. Van ECK Associates Corp now owns 2,000,736 shares of the financial services provider’s stock worth $452,246,000 after purchasing an additional 236,497 shares during the period. Finally, T. Rowe Price Investment Management Inc. grew its position in MarketAxess by 11.4% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,298,409 shares of the financial services provider’s stock worth $519,533,000 after purchasing an additional 236,118 shares in the last quarter. 99.01% of the stock is currently owned by institutional investors and hedge funds.

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.