MarketAxess Holdings (NASDAQ:MKTX), an electronic trading platform, is itself trading in grand style today as it landed some love from a new analyst. UBS stepped in with some fond remarks and encouragement to buy in, and investors took the advice like ducks to water, sending MarketAxess up over 5.5% during Friday afternoon’s trading session.
The word came from UBS’ Alex Kramm, who declared that MarketAxess was a “…pure-play on the electronification of credit trading.” What’s more, Kramm noted that MarketAxess was also delivering some very solid results and doing so during some of the worst macroeconomic conditions an electronic trading platform can see. Gone are the days of stimulus checks funding rampant speculation in meme stocks or what have you. Now, the consumer is pulling in his or her wallet, and investors are often doing likewise.
Kramm isn’t alone here. Other analysts have already pointed out that MarketAxess has already retested support and is still on the rise. They’re pointing out its “solid business model” as well as “strong financial footing” and declaring it a solid stock to buy in on in response. This is reasonable enough, certainly, especially given all that it’s successfully been through thus far. While no one can forget the issue of the macro around this stock, it’s clear enough that it’s already survived some rough stuff and should continue so to do for a while to come.
Is MarketAxess Holdings a Good Stock to Buy?
Currently, MarketAxess has a bit of a split in opinion going on. MarketAxess Holdings stock is consensus-rated as a Moderate Buy, thanks to four Buy ratings and five Holds. Further, with an average price target of $284.78 per share, MarketAxess Holdings stock offers investors 19.14% upside potential.
