MarketAxess Holdings’ Q3 2025 Earnings: What to Expect

Core Insights - MarketAxess Holdings Inc. is valued at $6.4 billion and operates an electronic trading platform for institutional investors and broker-dealer companies globally, focusing on liquidity, execution quality, and cost savings in fixed-income markets [1] Financial Performance - MarketAxess is expected to report a non-GAAP profit of $1.70 per share for Q3, a decrease of 10.5% from $1.90 in the same quarter last year, but has consistently surpassed Wall Street's bottom-line estimates for the past four quarters [2] - For the full fiscal year 2025, adjusted EPS is projected at $7.27, slightly down from $7.28 in fiscal 2024, with a forecasted increase of 9.9% to $7.99 per share in fiscal 2026 [3] Stock Performance - MKTX stock has declined by 40.8% over the past 52 weeks, underperforming the Financial Select Sector SPDR Fund's 10.9% gains and the S&P 500 Index's 14.8% returns during the same period [4] - Following the Q2 results announcement, MKTX stock prices fell by 10.1%, despite reporting a 12% increase in commissions revenues to $191.8 million and a 10.9% year-over-year revenue growth to $219.5 million, which exceeded expectations [5] Analyst Ratings - Analysts maintain a consensus "Moderate Buy" rating for MKTX, with 16 analysts providing insights: five "Strong Buys," one "Moderate Buy," nine "Holds," and one "Moderate Sell." The mean price target of $203 indicates an 18.8% upside potential from current levels [6]