MarketAxess (MKTX) shares soared 7.5% in the last trading session to close at $273.94. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 5.4% gain over the past four weeks. MarketAxess' recent price improvement stems from investor optimism around its strong trading volume growth. The company reported strong performance for the third quarter and September, particularly in key segments like U.S. high-grade, emerging markets, Eurobond ...

Shares of MarketAxess Holdings Inc. (MKTX) have gained 17.2% in the past six months compared with the industry's 11.3% growth. The Finance sector and the S&P 500 composite index rose 10.8% and 9.5%, respectively, in the same time frame. With a market capitalization of $9.7 billion, the average volume of shares traded in the past three months was 0.4 million. MarketAxess benefits from increased trading volumes, market share gains across a diversified set of product categories, strategic partnerships and a st ...

MarketAxess Holdings Inc. (MKTX) recently announced an expansion of its 10-year-long partnership with BlackRock. Under this expanded partnership, MKTX's credit trading protocols, data and pricing will be integrated into BlackRock's Aladdin order execution management system (OEMS). The partnership between MKTX and BlackRock in MarketAxess analytics and Open trading dates back to 2013. The expansion of this partnership bodes well for MKTX as it enhances existing offerings for common clients of both companies. ...

sommart/iStock via Getty Images Reiterating Hold Rating Given Continuation of Market Share Trends As outlined in my initiation post on MarketAxess Holdings Inc. (NASDAQ:MKTX), 'MarketAxess: Electronic Credit Platform With Industry Tailwinds, Valuation Seems Fair', MarketAxess is a dominant player in the global electronic credit trading space. The company has benefitted and should continue to benefit, from the structural shift in global credit markets from primarily a dealer to client market operated via tel ...

MarketAxess (MKTX) shares rallied 6.7% in the last trading session to close at $258.02. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 5.5% gain over the past four weeks. This marks the second consecutive day of MarketAxess' price increases. Increased optimism over growing trading volume is driving the company's stock price higher. Yesterday, it reported robust trading volume growth for August, with strong c ...

Core Viewpoint - MarketAxess reported a mixed performance in its recent earnings, with earnings per share slightly exceeding estimates but total revenues falling short of expectations. The company is experiencing both growth in certain areas and challenges in others, leading to a cautious outlook for the upcoming period [2][3][18]. Financial Performance - MarketAxess reported Q2 2024 earnings per share of $1.72, surpassing the Zacks Consensus Estimate by 1.8%, and showing a year-over-year growth of 5.5% [2]. - Total revenues reached $197.7 million, reflecting a 10% year-over-year increase but falling short of the consensus estimate of $198 million [2]. - Commission revenues totaled $171.7 million, an 8% increase year-over-year, but missed the consensus estimate of $173 million [4]. - Total expenses increased by 12% year-over-year to $116.3 million, driven by higher employee compensation and technology costs [5]. Trading Volumes - High-grade trading volume was $405.4 billion, a 15% year-over-year increase, but below the consensus estimate of $412.5 billion [7]. - Total credit trading volume advanced 14% year-over-year to $861.5 billion, exceeding the Zacks Consensus Estimate of $853.6 billion [9]. - Emerging markets trading volume rose 25% year-over-year, while Eurobonds trading volume increased by 10% [8]. Balance Sheet and Cash Flow - As of June 30, 2024, MarketAxess had cash and cash equivalents of $434.1 million, a decline of 3.8% from the end of 2023 [11]. - Cash generated from operations was $118.8 million, up from $105.3 million the previous year, with free cash flow recorded at $97.6 million, more than doubling year-over-year [12]. Capital Deployment - The company repurchased shares worth $33.5 million and approved a $200 million increase to its existing share repurchase plan [13]. - A quarterly cash dividend of 74 cents per share was approved, to be paid on September 4, 2024 [13]. Guidance - Management anticipates mid-single-digit revenue growth from the Pragma acquisition, with total expenses expected to remain at the lower end of the guided range of $480 million to $500 million [14][15].

MarketAxess Holdings Inc. (MKTX) is benefiting from increased trading volumes, a robust Open Trading platform, acquisitions and partnerships, as well as solid cash-generating abilities. Zacks Rank & Price Performance MarketAxess carries a Zacks Rank #3 (Hold) at present. The stock has gained 8.1% in the past six months, in line with the industry. Image Source: Zacks Investment Research Robust Growth Prospects The Zacks Consensus Estimate for MarketAxess' 2024 earnings is pegged at $7.06 per share, which ind ...

meshaphoto MarketAxess: Global Credit Trading Platform, But Valuation Appears Fair Given Recent Market Share Trends MarketAxess (NASDAQ:MKTX) operates a global credit trading platform and also offers rates trading, data and post-trade solutions to its clients. MKTX has benefited from the electronification of global credit markets. However, in recent years, its market share growth has come under pressure. The company continues to be at the center of this cyclical shift in the markets but given the recent sha ...

MarketAxess Holdings Inc. (MKTX) reported second-quarter 2024 earnings per share of $1.72, which surpassed the Zacks Consensus Estimate by 1.8%. The bottom line grew 5.5% year over year. Total revenues of $197.7 million rose 10% year over year. The top line fell short of the consensus mark of $198 million. The better-than-expected quarterly results were driven by a solid improvement in U.S. high-grade commission revenues. Geographic expansion and product diversification drove the average daily volume (ADV) ...

MarketAxess (MKTX) reported $197.66 million in revenue for the quarter ended June 2024, representing a year-over-year increase of 9.9%. EPS of $1.72 for the same period compares to $1.63 a year ago. The reported revenue compares to the Zacks Consensus Estimate of $198.26 million, representing a surprise of -0.30%. The company delivered an EPS surprise of +1.78%, with the consensus EPS estimate being $1.69. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- an ...