Financial technology firm Marketaxess Holdings (MKTX) has reported monthly trading volume of $567 billion for June, which includes $327.5 billion in rates volume and $239.5 billion in credit volume.
The company operates as an electronic trading platform that allows trading in fixed-income instruments like corporate bonds. (See Marketaxess stock chart on TipRanks)
For the quarter ended June 30, Marketaxess reported preliminary variable transaction fees per million of $3.90 for rates, $184 for total credit, $194 for other credit and $174 for U.S. high-grade.
The company’s shares closed 1.7% higher at $471.80 on Tuesday.
Last month, Rosenblatt Securities analyst Sean Horgan maintained a Buy rating on the stock with a price target of $569 (20.6% upside potential). The analyst expects the company to record earnings per share (EPS) of $2.15 in the second quarter.
Overall, the stock has a Moderate Buy consensus rating based on 2 Buys and 5 Holds. The average Marketaxess price target of $520.29 implies 10.3% upside potential. Shares of the company have lost 16.2% over the past year.
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