William Blair analyst Jeff Schmitt has maintained their bullish stance on MKTX stock, giving a Buy rating on October 1.
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Jeff Schmitt has given his Buy rating due to a combination of factors including MarketAxess’s continued strong performance in emerging markets and its strategic initiatives. Despite a decline in total average daily volume (ADV) and challenging market conditions, the company has shown resilience with a significant increase in block trading ADV internationally and a record market share in U.S. credit PT.
Schmitt also notes the potential for further growth as MarketAxess rolls out its targeted solutions in the U.S., which is expected to enhance block trading momentum. While there are challenges such as declining credit fee rates and market share pressures, the company’s strategic direction and strong performance in specific areas provide a positive outlook for its stock.
Schmitt covers the Financial sector, focusing on stocks such as Marketaxess Holdings, SEI Investments Company, and Charles Schwab. According to TipRanks, Schmitt has an average return of 8.3% and a 65.00% success rate on recommended stocks.
In another report released on October 1, Morgan Stanley also maintained a Buy rating on the stock with a $253.00 price target.