MarketAxess Holdings (MKTX)

• Market cap: $6.74B
• 1 day: -1.65%
• 5 days: -4.15%
• 1 month: -3.27%
• 3 months: -18.25%
• 6 months: -16.95%
• Year to date: -19.88%
• 1 year: -30.53%
• 5 years: -58.85%
• 10 years: 87.41%
• Sector: Financials
• Industry: Capital Markets

About: Founded in 2000, MarketAxess is a leading electronic fixed-income trading platform that connects broker/dealers and institutional investors. The company is primarily focused on credit based fixed income securities with its main trading products being US investment-grade and high-yield bonds, Eurobonds, and Emerging Market corporate debt. Recently the company has expanded more aggressively into Treasuries and municipal bonds with the acquisitions of LiquidityEdge and MuniBrokers in 2019 and 2021, respectively. The company also provides pre- and post-trade services with its acquisition of Regulatory Reporting Hub from Deutsche Börse Group in 2020 adding to its product offerings.

Employees: 891

Fund manager confidence

Based on 2025 Q2 regulatory disclosures by fund managers ($100M+ AUM)

637% more call options, than puts

Call options by funds: $65.9M | Put options by funds: $8.94M

49% more first-time investments, than exits

New positions opened: 85 | Existing positions closed: 57

43% more repeat investments, than reductions

Existing positions increased: 226 | Existing positions reduced: 158

4% more funds holding

Funds holding: 503 [Q1] → 522 (+19) [Q2]

1.02% more ownership

Funds ownership: 97.36% [Q1] → 98.38% (+1.02%) [Q2]

4% more capital invested

Capital invested by funds: $7.94B [Q1] → $8.24B (+$297M) [Q2]

25% less funds holding in top 10

Funds holding in top 10: 4 [Q1] → 3 (-1) [Q2]

Research analyst outlook

6 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $200
• Avg. target: $226
• High target: $274

6 analyst ratings

• positive: 3 50%
• neutral: 3 50%
• negative: 0 0%

Argus Research Kevin Heal	$212	Buy Upgraded	25 Aug 2025
Jefferies Daniel Fannon	$208	Hold Maintained	11 Aug 2025
UBS Alex Kramm	$255	Buy Maintained	7 Aug 2025
Barclays Benjamin Budish	$200	Equal-Weight Maintained	7 Aug 2025
Piper Sandler Patrick Moley	$204	Neutral Maintained	15 Jul 2025