Analyst Michael Cyprys from Morgan Stanley maintained a Hold rating on Marketaxess Holdings and keeping the price target at $209.00.
Claim 70% Off TipRanks This Holiday Season
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Michael Cyprys has given his Hold rating due to a combination of factors influencing MarketAxess Holdings. The company’s reported credit volumes for November showed a significant year-over-year increase, with investment-grade and high-yield volumes rising notably. However, despite these positive volume trends, the average fee per million for total credit experienced a slight decline both month-over-month and year-over-year, which may indicate pressure on revenue generation.
Additionally, while MarketAxess’s market share in both investment-grade and high-yield credit has improved, the overall performance against consensus expectations presents a mixed picture. The total average daily volume for rates and credit is tracking above Morgan Stanley estimates but slightly below consensus for the fourth quarter of 2025. These mixed results, coupled with the decline in fee capture, likely contribute to the Hold rating, as they suggest a balanced outlook with both positive and negative elements to consider.
In another report released yesterday, TR | OpenAI – 4o also downgraded the stock to a Hold with a $173.00 price target.
Based on the recent corporate insider activity of 53 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of MKTX in relation to earlier this year.