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Upturn AI SWOT - About
MKTX 
MarketAxess Holdings Inc (MKTX)
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Upturn Advisory Summary
10/29/2025: MKTX (2-star) is currently NOT-A-BUY. Pass it for now.
Upturn Star Rating
Below Average Performance
These Stocks/ETFs, based on Upturn Advisory, often underperform the market, warranting careful consideration before investing.
Number of Analysts
15 Analysts rated it
Moderately tracked stock, growing coverage, gaining market and investor attention.
1 Year Target Price $202.67
1 Year Target Price $202.67
| 4 | Strong Buy |
| 2 | Buy |
| 8 | Hold |
| 1 | Sell |
| 0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit 6.81% | Avg. Invested days 41 | Today’s Advisory PASS |
Upturn Star Rating | Upturn Advisory Performance  3.0 | Stock Returns Performance  2.0 |
| Profits based on simulation | Last Close 10/29/2025 |
Key Highlights
Company Size Mid-Cap Stock | Market Capitalization 6.26B USD | Price to earnings Ratio 28.17 | 1Y Target Price 202.67 |
Price to earnings Ratio 28.17 | 1Y Target Price 202.67 | ||
Volume (30-day avg) 15 | Beta 0.88 | 52 Weeks Range 158.42 - 288.73 | Updated Date 10/29/2025 |
52 Weeks Range 158.42 - 288.73 | Updated Date 10/29/2025 | ||
Dividends yield (FY) 1.79% | Basic EPS (TTM) 5.8 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Revenue by Geography
Geography revenue - Year on Year
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin 26.62% | Operating Margin (TTM) 41.86% |
Management Effectiveness
Return on Assets (TTM) 11.24% | Return on Equity (TTM) 16.33% |
Valuation
Trailing PE 28.17 | Forward PE 20.58 | Enterprise Value 5942915263 | Price to Sales(TTM) 7.48 |
Enterprise Value 5942915263 | Price to Sales(TTM) 7.48 | ||
Enterprise Value to Revenue 7.1 | Enterprise Value to EBITDA 13.1 | Shares Outstanding 37363773 | Shares Floating 36629201 |
Shares Outstanding 37363773 | Shares Floating 36629201 | ||
Percent Insiders 2.31 | Percent Institutions 99.8 |
Upturn AI SWOT
MarketAxess Holdings Inc
Company Overview
History and Background
MarketAxess Holdings Inc. was founded in 2000. It pioneered electronic trading in the fixed-income market. Initially focused on corporate bonds, it expanded into other fixed-income products and geographies. Significant milestones include its IPO in 2004 and continued expansion into new product areas.
Core Business Areas
- Credit Trading: Provides electronic trading solutions for corporate bonds, emerging market debt, high-yield bonds, and other credit products.
- Rates Trading: Offers electronic trading solutions for U.S. Treasuries, European government bonds, and other rate-sensitive instruments.
- Open Trading: A proprietary marketplace that enables participants to trade anonymously with each other, fostering price discovery and liquidity.
- Information Services: Provides pricing data, analytics, and other information services to market participants.
Leadership and Structure
Chris Concannon serves as President and CEO. The company has a board of directors and operates with a functional organizational structure, dividing responsibilities across technology, sales, marketing, and finance.
Top Products and Market Share
Key Offerings
- Eurobonds: Provides a platform for trading Eurobonds, facilitating cross-border fixed-income trading. Competitors include Tradeweb and Bloomberg.
- U.S. High-Grade Corporate Bonds: Offers a leading electronic trading platform for U.S. high-grade corporate bonds. MarketAxess has a significant market share in this segment, estimated around 21.6% in Q4 2023. Competitors include Tradeweb Markets and Bloomberg.
- U.S. High-Yield Corporate Bonds: Similar to high-grade, MarketAxess provides a platform for trading high-yield corporate bonds, capturing estimated market share in Q4 2023 of 19.3%. Tradeweb and Bloomberg are also primary competitors.
Market Dynamics
Industry Overview
The fixed-income market is undergoing increased electronification, driven by regulatory changes, efficiency demands, and technological advancements. The industry is highly competitive, with established players and emerging fintech firms vying for market share.
Positioning
MarketAxess is a leading electronic trading platform for fixed-income securities, leveraging its technology and established network to provide efficient and transparent trading solutions. Its competitive advantage lies in its Open Trading protocol and diverse product offerings.
Total Addressable Market (TAM)
The total addressable market for electronic fixed-income trading is estimated to be in the trillions of dollars. MarketAxess is well-positioned to capture a larger share of this market through continued innovation and expansion into new products and geographies.
Upturn SWOT Analysis
Strengths
- Leading market position in electronic fixed-income trading
- Proprietary Open Trading platform
- Strong technology infrastructure
- Extensive network of dealers and investors
- Diverse product offerings
Weaknesses
- Dependence on fixed-income market activity
- Competition from established players and emerging fintech firms
- Potential for regulatory changes to impact business model
- Vulnerability to cybersecurity threats
Opportunities
- Continued electronification of fixed-income markets
- Expansion into new products and geographies
- Strategic acquisitions to enhance product offerings
- Leveraging data and analytics to provide value-added services
- Growth in emerging markets
Threats
- Increased competition from other electronic trading platforms
- Regulatory changes that could increase compliance costs
- Economic downturn that could reduce trading activity
- Cybersecurity breaches
- Changes in interest rate environment
Competitors and Market Share
Key Competitors
- TW (Tradeweb Markets Inc)
- Bloomberg L.P.
- ICAP (TP ICAP Group PLC)
Competitive Landscape
MarketAxess holds a leading position in the electronic fixed-income trading market. Its Open Trading protocol and diverse product offerings give it a competitive edge. However, it faces strong competition from established players like Tradeweb and Bloomberg, as well as emerging fintech firms.
Major Acquisitions
LiquidityEdge
- Year: 2019
- Acquisition Price (USD millions): 150
- Strategic Rationale: Acquisition of LiquidityEdge provided MarketAxess with enhanced capabilities in the U.S. Treasury market.
Pragma
- Year: 2022
- Acquisition Price (USD millions): 100
- Strategic Rationale: The acquisition of Pragma enhances MarketAxess's AI-powered trading solutions and expands its capabilities in algorithmic execution.
Growth Trajectory and Initiatives
Historical Growth: MarketAxess has experienced strong growth in recent years, driven by the increasing electronification of fixed-income markets and its market leading position. Please refer to company's annual reports to identify specific growth rates.
Future Projections: Analyst estimates for MarketAxess' future growth are generally positive, reflecting expectations for continued growth in electronic fixed-income trading. Please refer to analyst reports from sources such as Yahoo Finance and Bloomberg.
Recent Initiatives: Recent initiatives include expanding its Open Trading protocol, launching new trading platforms, and making strategic acquisitions.
Summary
MarketAxess is a strong company, leading in electronic fixed-income trading with a robust Open Trading platform. Its expansion into new products and geographies, and strategic acquisitions, positions it for future growth. It should continue to innovate and address competition to maintain its market position, while proactively mitigating cybersecurity threats and regulatory changes.
Similar Stocks
Sources and Disclaimers
Data Sources:
- Company Filings (e.g., 10-K reports)
- Market Research Reports (e.g., from industry analysts)
- Press Releases
- Financial News Outlets (e.g., Bloomberg, Reuters, Yahoo Finance)
Disclaimers:
This analysis is based on available information and is for informational purposes only. It should not be considered as financial advice. Market conditions and company performance can change, and past performance is not indicative of future results.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About MarketAxess Holdings Inc
Exchange NASDAQ | Headquaters New York, NY, United States | ||
IPO Launch date 2004-11-05 | CEO & Director Mr. Christopher Robert Concannon J.D. | ||
Sector Financial Services | Industry Capital Markets | Full time employees 881 | Website https://www.marketaxess.com |
Full time employees 881 | Website https://www.marketaxess.com | ||
MarketAxess Holdings Inc., together with its subsidiaries, operates an electronic trading platform for institutional investor and broker-dealer firms in the United States, the United Kingdom, and internationally. The company offers trading technology to access liquidity on its platforms in U.S. high-grade bonds, U.S. high-yield bonds, emerging market debt, eurobonds, municipal bonds, U.S. government bonds, and other fixed-income securities; and executes bond trades between and among institutional investor and broker-dealer clients in an all-to-all anonymous trading environment for corporate bonds through its Open Trading protocols. It also provides automated and algorithmic trading solutions, such as X-Pro, a trading platform to combine trading protocols with its proprietary data and pre-trade analytics; and integrated and actionable data offerings, including CP+ and Axess All, a real-time pricing engine, including Auto-X and portfolio trading. In addition, the company offers various pre-and post-trade services, such as processing, trade matching, trade publication, regulatory transaction reporting, and market and reference data across a range of fixed-income and other products. MarketAxess Holdings Inc. was incorporated in 2000 and is headquartered in New York, New York.
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