In a report released yesterday, Michael Cyprys from Morgan Stanley maintained a Hold rating on Tradeweb Markets, with a price target of $149.00.
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Michael Cyprys’s rating is based on Tradeweb Markets’ recent performance metrics, which showed significant year-over-year growth but fell short of expectations. The company reported a 33% increase in volumes for the second quarter of 2025, which was 7% below Morgan Stanley’s estimates and 1% below consensus. Despite this, the capture rate was slightly better than anticipated, indicating some positive aspects in their operational efficiency.
While Tradeweb achieved notable market share gains in certain segments like US investment-grade credit, the overall earnings per share were slightly below Morgan Stanley’s expectations. The variable revenues grew by 29% year-over-year, driven by a 33% increase in volume, but this was offset by a 5% compression in the capture rate. Given these mixed results, Cyprys has opted for a Hold rating, suggesting that while there are growth opportunities, there are also challenges that need to be addressed before a more positive outlook can be justified.
Cyprys covers the Financial sector, focusing on stocks such as BlackRock, CME Group, and Franklin Resources. According to TipRanks, Cyprys has an average return of 4.2% and a 53.57% success rate on recommended stocks.