William Blair analyst Jeff Schmitt has maintained their bullish stance on TW stock, giving a Buy rating today.
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Jeff Schmitt’s rating is based on Tradeweb Markets’ impressive performance in the second quarter, where the company achieved record average daily volumes (ADV) and revenues. The increase in trading volumes was largely driven by heightened market volatility, which contributed to a 33% rise in total ADV and a 27% growth in total revenue. Despite facing challenges in specific product areas such as U.S. Treasurys, global swaps, and U.S. high-grade bonds, these were primarily due to market volatility, and improvements are expected as conditions stabilize.
Additionally, Tradeweb’s progress in international markets has been noteworthy, further supporting its revenue growth trajectory. Although the overall growth rate is anticipated to moderate in the latter half of the year, the company is still on track to achieve an 18% revenue increase for the year, which is expected to bolster earnings per share growth. These factors collectively underpin Jeff Schmitt’s Buy rating for Tradeweb Markets.
According to TipRanks, Schmitt is a 4-star analyst with an average return of 12.8% and an 80.85% success rate. Schmitt covers the Financial sector, focusing on stocks such as SEI Investments Company, Charles Schwab, and Cboe Global Markets.
In another report released today, Barclays also maintained a Buy rating on the stock with a $170.00 price target.