William Blair analyst Jeff Schmitt has maintained their bullish stance on TW stock, giving a Buy rating on May 1.
Jeff Schmitt’s rating is based on Tradeweb Markets’ impressive performance in April, where the company reported a significant increase in average daily volumes (ADV) by 39%, reaching $2.7 trillion. This growth was driven by substantial gains across various sectors, including money markets, equities, credit, and rates. Despite challenging market conditions, Tradeweb has managed to achieve record levels in several key products, demonstrating its robust market position.
Tradeweb’s strong performance in the rates sector, particularly in U.S. and European government bonds and swaps, was fueled by increased market volatility and a risk-on environment. Additionally, the credit sector showed remarkable growth, with the adoption of portfolio trading and request-for-quote (RFQ) mechanisms gaining traction. Although there was a temporary dip in U.S. high-grade (HG) market share due to specific client activities, the company quickly regained its position, highlighting its resilience and adaptability in a dynamic market landscape.
In another report released on May 1, Bank of America Securities also reiterated a Buy rating on the stock with a $208.00 price target.