Piper Sandler Issues Pessimistic Forecast for MarketAxess (NASDAQ:MKTX) Stock Price

MarketAxess (NASDAQ:MKTX - Free Report) had its target price decreased by Piper Sandler from $220.00 to $213.00 in a research note issued to investors on Tuesday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the financial services provider's stock.

Other analysts also recently issued reports about the company. Barclays lifted their target price on MarketAxess from $225.00 to $232.00 and gave the stock an "equal weight" rating in a research report on Monday, April 7th. Bank of America boosted their price objective on shares of MarketAxess from $189.00 to $191.00 and gave the company an "underperform" rating in a research report on Wednesday, April 2nd. UBS Group reduced their target price on shares of MarketAxess from $305.00 to $295.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. Keefe, Bruyette & Woods dropped their price objective on MarketAxess from $251.00 to $225.00 and set a "market perform" rating on the stock in a research note on Friday, February 7th. Finally, The Goldman Sachs Group reduced their price objective on MarketAxess from $235.00 to $210.00 and set a "neutral" rating on the stock in a report on Monday, February 10th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, MarketAxess presently has an average rating of "Hold" and an average target price of $252.11.

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MarketAxess Stock Up 5.5 %

NASDAQ:MKTX traded up $11.49 during mid-day trading on Tuesday, hitting $221.81. 1,218,949 shares of the stock traded hands, compared to its average volume of 485,332. MarketAxess has a 52 week low of $186.84 and a 52 week high of $296.68. The stock has a market capitalization of $8.36 billion, a price-to-earnings ratio of 30.51, a PEG ratio of 3.89 and a beta of 1.12. The firm's 50 day moving average is $204.99 and its two-hundred day moving average is $235.29.

MarketAxess (NASDAQ:MKTX - Get Free Report) last released its earnings results on Thursday, February 6th. The financial services provider reported $1.73 EPS for the quarter, beating analysts' consensus estimates of $1.70 by $0.03. MarketAxess had a return on equity of 20.23% and a net margin of 33.56%. As a group, research analysts predict that MarketAxess will post 7.79 EPS for the current year.

MarketAxess Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Wednesday, February 19th were paid a dividend of $0.76 per share. This is a boost from MarketAxess's previous quarterly dividend of $0.74. This represents a $3.04 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date was Wednesday, February 19th. MarketAxess's dividend payout ratio is 41.82%.

Hedge Funds Weigh In On MarketAxess

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Global X Japan Co. Ltd. boosted its holdings in shares of MarketAxess by 179.5% in the 4th quarter. Global X Japan Co. Ltd. now owns 109 shares of the financial services provider's stock valued at $25,000 after buying an additional 70 shares in the last quarter. Allianz SE purchased a new stake in MarketAxess during the fourth quarter valued at approximately $27,000. Smartleaf Asset Management LLC grew its holdings in MarketAxess by 495.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 125 shares of the financial services provider's stock worth $28,000 after purchasing an additional 104 shares during the last quarter. SRS Capital Advisors Inc. increased its position in shares of MarketAxess by 13,900.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 140 shares of the financial services provider's stock worth $32,000 after purchasing an additional 139 shares in the last quarter. Finally, Huntington National Bank lifted its holdings in shares of MarketAxess by 185.7% during the 4th quarter. Huntington National Bank now owns 160 shares of the financial services provider's stock valued at $36,000 after purchasing an additional 104 shares during the last quarter. Hedge funds and other institutional investors own 99.01% 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.