William Blair analyst Jeff Schmitt has maintained their bullish stance on MKTX stock, giving a Buy rating on August 25.
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Jeff Schmitt has given his Buy rating due to a combination of factors, including MarketAxess Holdings’ ability to maintain stable market shares in U.S. high-grade and high-yield bonds despite challenging market conditions. The company has shown resilience with its strategic initiatives, which are progressing well, and its block trading average daily volume (ADV) has increased by 8%, indicating strong performance in international markets.
Additionally, MarketAxess has seen an 18% rise in both total portfolio trading ADV and dealer-initiated ADV, suggesting robust growth potential. Although there was a decline in overall trading volumes due to seasonal factors and tough year-over-year comparisons, the company’s targeted block trading solution rollout in the U.S. is expected to further drive momentum. These elements collectively support the positive outlook and justify the Buy rating.
Schmitt covers the Financial sector, focusing on stocks such as Charles Schwab, Cboe Global Markets, and StoneX Group. According to TipRanks, Schmitt has an average return of 10.9% and a 68.52% success rate on recommended stocks.
In another report released on August 25, Argus Research also upgraded the stock to a Buy with a $212.00 price target.