Bank of America's analyst Eli Abboud has adjusted the price target for MarketAxess (MKTX, Financial), reducing it to $185 from the previous $191. This decision is accompanied by the firm's continued Underperform rating on the stock.
The revision comes as the firm prepares for the upcoming Q1 earnings announcements for MarketAxess and other exchange groups, including Intercontinental Exchange (ICE), Nasdaq (NDAQ), and Tradeweb (TW). Abboud's team incorporated the latest monthly volume and fee rate data into their models, prompting a slight decrease in their earnings forecasts for these companies. The adjustment reflects a softer-than-expected fee rate observed in March.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 11 analysts, the average target price for MarketAxess Holdings Inc (MKTX, Financial) is $230.27 with a high estimate of $295.00 and a low estimate of $185.00. The average target implies an upside of 3.65% from the current price of $222.17. More detailed estimate data can be found on the MarketAxess Holdings Inc (MKTX) Forecast page.
Based on the consensus recommendation from 14 brokerage firms, MarketAxess Holdings Inc's (MKTX, Financial) average brokerage recommendation is currently 2.6, indicating "Hold" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for MarketAxess Holdings Inc (MKTX, Financial) in one year is $316.12, suggesting a upside of 42.29% from the current price of $222.17. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the MarketAxess Holdings Inc (MKTX) Summary page.
