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

MarketAxess (NASDAQ:MKTX) had its price target raised by investment analysts at Bank of America from $189.00 to $191.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an “underperform” rating on the financial services provider’s stock. Bank of America‘s price target would suggest a potential downside of 11.64% from the company’s previous close.

MKTX has been the subject of a number of other research reports. Piper Sandler lowered their target price on MarketAxess from $265.00 to $240.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. UBS Group cut their price target on shares of MarketAxess from $330.00 to $305.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Barclays cut their target price on MarketAxess from $256.00 to $225.00 and set an “equal weight” rating on the stock in a research note on Friday, February 7th. The Goldman Sachs Group lowered their price target on 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 reduced their target price on MarketAxess from $251.00 to $225.00 and set a “market perform” 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 given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $255.44.

MarketAxess Stock Performance

NASDAQ MKTX opened at $216.15 on Wednesday. The company has a market capitalization of $8.15 billion, a P/E ratio of 29.73, a P/E/G ratio of 3.89 and a beta of 1.05. MarketAxess has a 52-week low of $186.84 and a 52-week high of $296.68. The company has a fifty day moving average of $206.87 and a 200-day moving average of $238.03.

MarketAxess (NASDAQ:MKTX) last issued its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.73 EPS for the quarter, beating analysts’ consensus estimates 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, analysts forecast that MarketAxess will post 7.79 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MKTX. Global X Japan Co. Ltd. increased its stake in shares of MarketAxess by 179.5% during the fourth quarter. Global X Japan Co. Ltd. now owns 109 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 70 shares in the last quarter. Allianz SE bought a new position in MarketAxess in the 4th quarter worth about $27,000. Smartleaf Asset Management LLC grew its position in MarketAxess by 495.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 125 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 104 shares during the last quarter. SRS Capital Advisors Inc. increased its stake in MarketAxess by 13,900.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 140 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 139 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its stake in shares of MarketAxess by 49.1% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 164 shares of the financial services provider’s stock worth $35,000 after buying an additional 54 shares in the last quarter. 99.01% of the stock is currently owned by institutional investors.

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.