William Blair Analysts Lift Earnings Estimates for MarketAxess Holdings Inc. (NASDAQ:MKTX)

MarketAxess Holdings Inc. (NASDAQ:MKTX) – Research analysts at William Blair raised their Q3 2024 earnings estimates for shares of MarketAxess in a research report issued on Monday, October 14th. William Blair analyst J. Schmitt now anticipates that the financial services provider will post earnings of $1.85 per share for the quarter, up from their previous forecast of $1.66. The consensus estimate for MarketAxess’ current full-year earnings is $7.16 per share. William Blair also issued estimates for MarketAxess’ Q4 2024 earnings at $1.74 EPS, FY2024 earnings at $7.23 EPS and FY2026 earnings at $9.20 EPS.

MarketAxess (NASDAQ:MKTX) last issued its quarterly earnings data on Tuesday, August 6th. The financial services provider reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.04. The business had revenue of $197.70 million for the quarter, compared to analyst estimates of $198.07 million. MarketAxess had a return on equity of 20.43% and a net margin of 33.71%. The firm’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.63 EPS.

Several other research analysts have also issued reports on the company. Deutsche Bank Aktiengesellschaft lifted their price objective on MarketAxess from $218.00 to $223.00 and gave the company a “hold” rating in a report on Thursday, August 15th. Keefe, Bruyette & Woods raised their price objective on shares of MarketAxess from $222.00 to $225.00 and gave the company a “market perform” rating in a research report on Wednesday, August 7th. The Goldman Sachs Group upped their target price on shares of MarketAxess from $204.00 to $233.00 and gave the stock a “neutral” rating in a research report on Monday, September 30th. Citigroup boosted their price objective on shares of MarketAxess from $310.00 to $325.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Finally, Bank of America reduced their price objective on MarketAxess from $193.00 to $185.00 and set an “underperform” rating on the stock in a report on Thursday, October 3rd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, MarketAxess currently has a consensus rating of “Hold” and an average target price of $249.80.

MarketAxess Stock Up 1.3 %

Shares of MKTX stock opened at $288.26 on Wednesday. The stock has a market cap of $10.92 billion, a P/E ratio of 42.33, a price-to-earnings-growth ratio of 7.24 and a beta of 1.08. The stock has a fifty day moving average price of $251.29 and a 200 day moving average price of $223.86. MarketAxess has a one year low of $192.42 and a one year high of $297.97. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.91 and a quick ratio of 2.91.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of MKTX. Retirement Planning Co of New England Inc. boosted its stake in MarketAxess by 2.9% in the 2nd quarter. Retirement Planning Co of New England Inc. now owns 1,566 shares of the financial services provider’s stock worth $314,000 after purchasing an additional 44 shares during the period. Yousif Capital Management LLC boosted its position in MarketAxess by 1.0% during the 1st quarter. Yousif Capital Management LLC now owns 5,137 shares of the financial services provider’s stock worth $1,126,000 after acquiring an additional 52 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in shares of MarketAxess by 0.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 7,376 shares of the financial services provider’s stock worth $1,479,000 after acquiring an additional 52 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised 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 during the last quarter. Finally, CVA Family Office LLC raised its holdings in shares of MarketAxess by 47.4% in the second quarter. CVA Family Office LLC now owns 252 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 81 shares during the last quarter. Institutional investors own 99.01% of the company’s stock.

Insider Buying and Selling at MarketAxess

In other news, insider Christophe Pierre Danie Roupie sold 617 shares of the company’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $231.63, for a total value of $142,915.71. Following the completion of the sale, the insider now directly owns 7,409 shares of the company’s stock, valued at $1,716,146.67. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 2.66% of the company’s stock.

MarketAxess announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, August 6th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the financial services provider to repurchase up to 2.8% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

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.