William Blair analyst Jeff Schmitt has maintained their bullish stance on TW stock, giving a Buy rating on April 22.
Jeff Schmitt’s rating is based on Tradeweb Markets’ impressive financial performance and growth prospects. The company reported a robust first quarter with total revenues of $510 million, surpassing expectations and marking a 25% increase from the previous year. This growth was fueled by a significant rise in average daily volume (ADV) across various asset classes, particularly in U.S. government bonds and long-tenor swaps.
Additionally, Tradeweb’s credit and equities segments showed strong performance, with credit ADV up 39% and equities revenues increasing by 16%. The company’s strategic expansion in money markets and market data also contributed to its revenue growth. Despite increased expenses, Tradeweb achieved a healthy adjusted EBITDA margin of 54.6%. The continued momentum into April, driven by heightened trading volumes and volatility, further supports the Buy rating.
Schmitt covers the Financial sector, focusing on stocks such as StoneX Group, Charles Schwab, and Tradeweb Markets. According to TipRanks, Schmitt has an average return of 6.4% and a 65.52% success rate on recommended stocks.
In another report released on April 22, J.P. Morgan also maintained a Buy rating on the stock with a $137.00 price target.