Based in New York, MarketAxess Holdings Inc. (MKTX) operates an electronic trading platform for institutional investors and broker-dealer firms worldwide. With a market cap of $8.1 billion, the company offers trading technology that provides liquidity access to U.S. high-grade bonds, U.S. high-yield bonds, emerging market debt, Eurobonds, and more.

Companies with a market capitalization between $2 billion and $10 billion are generally classified as 'mid-cap stocks,” and MKTX perfectly fits that description, with its market cap exceeding this mark, underscoring its size, influence, and dominance within the capital markets industry. The company benefits from a slew of offerings including CP+ and Axess All, Auto-X, portfolio trading, and more.

MKTX shares are currently trading 28.9% below their 52-week high of $296.68, touched on Oct. 30, 2024. Meanwhile, the stock has declined 6.4% over the past three months, lagging behind the broader S&P 500 Index ($SPX), which declined 3.4% during the same period.

MKTX has declined 17.3% over the past six months, underperforming SPX's marginal decline. Moreover, over the past 52 weeks, MKTX's 1.7% fall has also underperformed $SPX's 8.9% increase.

To confirm the bearish trend and recent uptick in stock prices, MKTX has remained under its 200-day moving average since mid-December 2024 and above its 50-day moving average since mid-March.

MarketAxess' stock prices rose 1.6% following its Q4 earnings release on Feb. 6. The company reported a marginal increase in its revenue, which amounted to $202.4 million, mainly caused by a 15% growth in emerging markets and Eurobonds commission revenue, reflecting strong geographic diversification. Moreover, its adjusted EPS amounted to $1.73, surpassing the Wall Street estimates by 1.8%.

Its peer, Evercore Inc. (EVR) has outperformed the stock over the past year, with its shares declining 15.5% over the past six months but surging 11.3% over the past 52 weeks.

Wall Street analysts are moderately bullish on MKTX’s prospects. The stock has a consensus “Moderate Buy” rating from the 14 analysts covering it, and the mean price target of $240.42 suggests a potential upside of 14% from current price levels.