Brokers Offer Predictions for MarketAxess FY2024 Earnings

MarketAxess Holdings Inc. (NASDAQ:MKTX) – Research analysts at William Blair lowered their FY2024 earnings per share (EPS) estimates for shares of MarketAxess in a note issued to investors on Monday, January 13th. William Blair analyst J. Schmitt now expects that the financial services provider will earn $7.28 per share for the year, down from their previous forecast of $7.31. The consensus estimate for MarketAxess’ current full-year earnings is $7.29 per share. William Blair also issued estimates for MarketAxess’ Q4 2024 earnings at $1.73 EPS.

MarketAxess (NASDAQ:MKTX) last issued its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.05. The company had revenue of $206.70 million during the quarter, compared to analyst estimates of $207.17 million. MarketAxess had a return on equity of 20.93% and a net margin of 34.32%. The company’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.46 earnings per share.

A number of other brokerages have also commented on MKTX. Piper Sandler cut their price objective 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. UBS Group upped their price target on MarketAxess from $330.00 to $335.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Citigroup lifted their price objective on MarketAxess from $310.00 to $325.00 and gave the stock a “buy” rating in a report on Friday, October 4th. Deutsche Bank Aktiengesellschaft upped their target price on MarketAxess from $258.00 to $264.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Finally, The Goldman Sachs Group lifted their price target on shares of MarketAxess from $204.00 to $233.00 and gave the stock a “neutral” rating in a research note on Monday, September 30th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, MarketAxess currently has a consensus rating of “Hold” and a consensus price target of $261.30.

MarketAxess Price Performance

NASDAQ:MKTX opened at $221.70 on Thursday. The stock has a market cap of $8.36 billion, a P/E ratio of 30.04, a PEG ratio of 6.67 and a beta of 1.03. The company has a fifty day moving average price of $241.85 and a 200 day moving average price of $246.03. MarketAxess has a one year low of $192.42 and a one year high of $296.68.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in MKTX. Asset Management One Co. Ltd. grew its holdings in MarketAxess by 0.3% during the 3rd quarter. Asset Management One Co. Ltd. now owns 15,431 shares of the financial services provider’s stock worth $3,953,000 after acquiring an additional 50 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its position in shares of MarketAxess by 1.0% during the third quarter. DekaBank Deutsche Girozentrale now owns 5,080 shares of the financial services provider’s stock worth $1,287,000 after purchasing an additional 52 shares in the last quarter. M&T Bank Corp grew its stake in shares of MarketAxess by 4.0% during the third quarter. M&T Bank Corp now owns 1,469 shares of the financial services provider’s stock valued at $376,000 after purchasing an additional 56 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of MarketAxess by 4.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,616 shares of the financial services provider’s stock valued at $324,000 after purchasing an additional 76 shares in the last quarter. Finally, Horizon Kinetics Asset Management LLC raised its position in MarketAxess by 6.0% in the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 1,342 shares of the financial services provider’s stock worth $344,000 after purchasing an additional 76 shares during the last quarter. 99.01% of the stock is owned by institutional investors.

Insider Activity

In other news, Chairman Richard M. Mcvey sold 20,000 shares of MarketAxess stock in a transaction that occurred on Tuesday, November 12th. The shares were 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 owns 592,029 shares in the company, valued at approximately $160,883,880.75. The trade was a 3.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Scott Pintoff sold 300 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $240.57, for a total value of $72,171.00. Following the sale, the general counsel now owns 8,302 shares in the company, valued at approximately $1,997,212.14. This trade represents a 3.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 30,300 shares of company stock worth $8,183,871. Corporate insiders own 2.66% of the company’s stock.

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.