Deutsche Bank Aktiengesellschaft Raises MarketAxess (NASDAQ:MKTX) Price Target to $264.00

MarketAxess (NASDAQ:MKTX - Get Free Report) had its price target lifted by equities research analysts at Deutsche Bank Aktiengesellschaft from $258.00 to $264.00 in a report released on Monday,Benzinga reports. The firm presently has a "hold" rating on the financial services provider's stock. Deutsche Bank Aktiengesellschaft's target price would suggest a potential downside of 3.73% from the stock's previous close.

Several other equities research analysts have also recently weighed in on the company. The Goldman Sachs Group boosted their price objective on MarketAxess from $204.00 to $233.00 and gave the stock a "neutral" rating in a research note on Monday, September 30th. Keefe, Bruyette & Woods boosted their price objective on MarketAxess from $270.00 to $276.00 and gave the stock a "market perform" rating in a research note on Thursday. StockNews.com raised MarketAxess from a "sell" rating to a "hold" rating in a research note on Wednesday, August 7th. Citigroup boosted their price objective on MarketAxess from $310.00 to $325.00 and gave the stock a "buy" rating in a research note on Friday, October 4th. Finally, Morgan Stanley boosted their price objective on MarketAxess from $262.00 to $314.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 17th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $267.50.

MarketAxess Trading Down 0.2 %

NASDAQ MKTX traded down $0.44 on Monday, hitting $274.24. 229,083 shares of the company traded hands, compared to its average volume of 408,077. The company has a market capitalization of $10.34 billion, a price-to-earnings ratio of 37.16, a P/E/G ratio of 8.55 and a beta of 1.05. The business's 50 day moving average price is $271.13 and its 200-day moving average price is $234.20. MarketAxess has a 52-week low of $192.42 and a 52-week high of $297.97.

MarketAxess (NASDAQ:MKTX - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $1.90 EPS for the quarter, beating the consensus estimate of $1.85 by $0.05. MarketAxess had a return on equity of 20.93% and a net margin of 34.32%. The business had revenue of $206.70 million for the quarter, compared to the consensus estimate of $207.17 million. During the same period in the previous year, the business earned $1.46 earnings per share. The business's revenue was up 20.0% on a year-over-year basis. As a group, sell-side analysts predict that MarketAxess will post 7.33 earnings per share for the current year.

MarketAxess announced that its board has authorized a stock buyback plan on Tuesday, August 6th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the financial services provider to buy up to 2.8% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its shares are undervalued.

Institutional Trading of MarketAxess

Several institutional investors have recently added to or reduced their stakes in MKTX. Accent Capital Management LLC purchased a new position in MarketAxess in the 3rd quarter valued at approximately $25,000. Goodman Advisory Group LLC purchased a new position in MarketAxess in the 2nd quarter valued at approximately $27,000. Blue Trust Inc. boosted its position in MarketAxess by 405.1% in the 2nd quarter. Blue Trust Inc. now owns 197 shares of the financial services provider's stock valued at $43,000 after buying an additional 158 shares during the period. CVA Family Office LLC boosted its position in MarketAxess by 47.4% in the 2nd quarter. CVA Family Office LLC now owns 252 shares of the financial services provider's stock valued at $51,000 after buying an additional 81 shares during the period. Finally, Exchange Traded Concepts LLC purchased a new position in MarketAxess in the 3rd quarter valued at approximately $54,000. Institutional investors and hedge funds own 99.01% 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 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.