MarketAxess (NASDAQ:MKTX) Posts Earnings Results, Beats Estimates By $0.08 EPS

MarketAxess (NASDAQ:MKTX) released its quarterly earnings data on Tuesday. The financial services provider reported $1.77 EPS for the quarter, beating analysts’ consensus estimates of $1.69 by $0.08, MarketWatch Earnings reports. The business had revenue of $176.30 million for the quarter, compared to the consensus estimate of $177.56 million. MarketAxess had a return on equity of 33.03% and a net margin of 42.62%. The business’s revenue for the quarter was down 4.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.20 EPS.

Shares of MKTX stock traded up $8.50 during trading hours on Thursday, reaching $464.35. 6,192 shares of the company’s stock were exchanged, compared to its average volume of 225,794. The firm has a market cap of $17.64 billion, a P/E ratio of 57.92 and a beta of 0.38. The business’s 50 day simple moving average is $456.61. MarketAxess has a 1 year low of $431.19 and a 1 year high of $606.45.

MKTX has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft decreased their target price on MarketAxess from $430.00 to $427.00 and set a “hold” rating for the company in a research report on Thursday. Morgan Stanley decreased their target price on MarketAxess from $500.00 to $470.00 and set an “equal weight” rating for the company in a research report on Thursday. Raymond James decreased their target price on MarketAxess from $580.00 to $530.00 and set an “outperform” rating for the company in a research report on Wednesday, July 7th. Rosenblatt Securities decreased their target price on MarketAxess from $625.00 to $569.00 and set a “buy” rating for the company in a research report on Thursday, June 3rd. Finally, Piper Sandler decreased their price objective on MarketAxess from $483.00 to $475.00 and set a “neutral” rating for the company in a research report on Wednesday, July 7th. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $528.78.

In other news, insider Nicholas Themelis sold 4,000 shares of the stock in a transaction that occurred on Monday, June 7th. The stock was sold at an average price of $445.00, for a total transaction of $1,780,000.00. Following the completion of the transaction, the insider now directly owns 17,202 shares of the company’s stock, valued at approximately $7,654,890. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, General Counsel Scott Pintoff sold 100 shares of the stock in a transaction that occurred on Monday, May 24th. The stock was sold at an average price of $460.02, for a total value of $46,002.00. Following the transaction, the general counsel now directly owns 6,223 shares of the company’s stock, valued at $2,862,704.46. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,070 shares of company stock valued at $9,962,539. Company insiders own 3.05% 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 firms worldwide. It offers the access to global liquidity in U.S. investment-grade bonds, U.S. high-yield bonds, U.S. Treasuries, municipal bonds, emerging market debt, Eurobonds, and other fixed income securities.

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Earnings History for MarketAxess (NASDAQ:MKTX)

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