William Blair analyst Jeff Schmitt has maintained their bullish stance on TW stock, giving a Buy rating on October 31.
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Jeff Schmitt has given his Buy rating due to a combination of factors including Tradeweb Markets’ impressive growth in trading volumes across various sectors. In October, the company reported a 21% increase in average daily volume (ADV), reaching $2.8 trillion. This growth was notably strong in equities, credit, and rates, despite challenging market conditions and comparisons.
Moreover, the stock is currently trading near its lowest forward price-to-earnings (P/E) multiple since its public debut in 2019, suggesting a potential undervaluation. Schmitt anticipates that the tough market conditions for rates and credit could improve soon, which may further enhance Tradeweb’s performance. These factors collectively underpin his positive outlook and Buy rating for the stock.
In another report released on October 31, Bank of America Securities also reiterated a Buy rating on the stock with a $192.00 price target.