Is MarketAxess Holdings Stock Outperforming the Nasdaq?
Valued at $8.4 billion by market cap, New York-based MarketAxess Holdings Inc. (MKTX) operates an electronic trading platform for institutional investors and broker-dealer companies worldwide. It focuses on expanding liquidity opportunities, improving execution quality, and cost savings across global fixed-income markets.
Companies worth between $2 billion and $10 billion are generally described as "mid-cap stocks." MarketAxess fits right into that category, reflecting its significant presence and influence in the capital markets industry.
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MarketAxess touched its 52-week high of $296.68 on Oct. 30, 2024, and is currently trading 24.8% below that peak. Meanwhile, the stock has gained 4.6% over the past three months, lagging behind the Nasdaq Composite's ($NASX) 9.3% surge during the same time frame.
MKTX stock has dipped 1.3% on a YTD basis, lagging behind Nasdaq's 3.4% uptick in 2025. However, MKTX stock is up 15% over the past 52 weeks, slightly outperforming NASX's 12.7% surge during the same time frame.
To confirm the recent downturn, MKTX stock traded below its 50-day moving average between mid-November 2024 and early March. Moreover, the stock has remained below its 200-day moving average since mid-December last year.
MarketAxess Holdings' stock prices observed a marginal dip following the release of its Q1 results on May 7. While emerging markets and eurobonds' average daily volumes and revenues observed a solid growth during the quarter, US credit commission revenues for the quarter experienced a notable drop. This led to a marginal 83 bps year-over-year drop in total revenues to $208.6 million. The company's general, admin, and other operating expenses observed a notable increase, leading to a 2.6% decrease in adjusted EPS to $1.87. However, this figure surpassed the consensus estimates by 2.8%.
Meanwhile, MarketAxess has significantly underperformed its peer Tradeweb Markets Inc.'s (TW) 10% gains on a YTD basis and 38.7% surge over the past 52 weeks.
Among the 14 analysts covering the MKTX stock, the consensus rating is a 'Moderate Buy.' Its mean price target of $238.83 suggests a 7% upside potential from current price levels.
On the date of publication, Aditya Sarawgi did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Barchart.com
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