MarketAxess HoldingsNASDAQ: MKTX

MarketAxess (MKTX) has received a Zacks Rank #2 (Buy) upgrade, indicating increased confidence in the company's potential earnings. This could lead to a rise in the stock price soon.

In the third quarter of 2024, MarketAxess showed impressive operating efficiency, achieving a 20% year-over-year revenue increase and a 330 basis point rise in operating margin. However, the company experienced a drop in market share in the U.S. High Grade and High Yield credit markets, which supports the Hold rating. Although October's volume metrics indicated strong year-over-year growth, the decline in market share, especially in important credit products, affected overall performance.

MKTX's results for the third quarter improved due to increased commissions from better trading volumes. However, higher expenses somewhat reduced the overall results.

MarketAxess Holdings Inc. (NASDAQ:MKTX) will hold its Q3 2024 Earnings Conference Call on November 6, 2024, at 10:00 AM ET. The call will feature company leaders including Steve Davidson, Chris Concannon, and Ilene Fiszel Bieler, along with various participants from major financial institutions. Attendees are currently in listen-only mode, and a question-and-answer session will follow later.

While the revenue and earnings per share (EPS) for MarketAxess (MKTX) provide insight into its performance for the quarter ending September 2024, it could be helpful to look at how these important figures stack up against Wall Street predictions and last year's results.

MarketAxess (MKTX) reported quarterly earnings of $1.90 per share, which is higher than the Zacks Consensus Estimate of $1.82 per share. This is an increase compared to earnings of $1.46 per share from the same period last year.

On Wednesday, MarketAxess Holdings reported better-than-expected profits for the third quarter, thanks to high levels of activity in the bond market.

MarketAxess Holdings Inc. (Nasdaq: MKTX), which runs a top electronic trading platform for fixed-income securities, has announced that its Founder and Executive Chairman, Rick McVey, will retire at the end of this year. Carlos Hernandez will take over as Chairman of the Board of Directors starting January 1, 2025. Mr. McVey will continue to serve as Chairman of the Board for MarketAxess Limited, the company's international holding entity.

MarketAxess Holdings Inc. (Nasdaq: MKTX), which runs a top electronic trading platform for fixed-income securities, has shared its trading volume and initial variable transaction fees for October 2024. CEO Chris Concannon stated that October marked the second consecutive month of record average daily trading volume, thanks to strong market activity and growth in their international operations. The company's rates business also contributed to this success.