MarketAxess (MKTX) to Release Earnings on Wednesday

MarketAxess (NASDAQ:MKTX - Get Free Report) will likely be announcing its earnings results before the market opens on Wednesday, January 29th. Analysts expect the company to announce earnings of $1.84 per share and revenue of $211,350.00 billion for the quarter. Parties interested in registering for the company's conference call can do so using this link.

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. On average, analysts expect MarketAxess to post $7 EPS for the current fiscal year and $8 EPS for the next fiscal year.

MarketAxess Price Performance

Shares of NASDAQ:MKTX traded up $3.93 during trading on Wednesday, hitting $225.89. 428,537 shares of the company's stock were exchanged, compared to its average volume of 427,626. The business's 50-day simple moving average is $237.87 and its 200 day simple moving average is $247.02. The company has a market cap of $8.52 billion, a price-to-earnings ratio of 30.61, a PEG ratio of 4.47 and a beta of 1.03. MarketAxess has a 52-week low of $192.42 and a 52-week high of $296.68.

Insider Activity

In other MarketAxess news, Chairman Richard M. Mcvey sold 20,000 shares of MarketAxess stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $271.75, for a total transaction of $5,435,000.00. Following the completion of the sale, the chairman now directly owns 592,029 shares of the company's stock, valued at $160,883,880.75. The trade was a 3.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Scott Pintoff sold 300 shares of the company's stock in a transaction 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 completion of the sale, the general counsel now owns 8,302 shares of the company's stock, valued at $1,997,212.14. This represents a 3.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,300 shares of company stock valued at $8,183,871. 2.66% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on MKTX shares. Bank of America cut their price objective on shares of MarketAxess from $193.00 to $185.00 and set an "underperform" rating for the company in a report on Thursday, October 3rd. Piper Sandler reduced their price target on shares of MarketAxess from $265.00 to $240.00 and set a "neutral" rating on the stock in a report on Tuesday, January 7th. Morgan Stanley increased their price objective on shares of MarketAxess from $262.00 to $314.00 and gave the company an "equal weight" rating in a report on Thursday, October 17th. Citigroup boosted their target price on MarketAxess from $310.00 to $325.00 and gave the stock a "buy" rating in a research report on Friday, October 4th. Finally, Keefe, Bruyette & Woods cut their price target on MarketAxess from $255.00 to $251.00 and set a "market perform" rating for the company in a report on Monday, January 13th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $261.30.

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.