Marketaxess Holdings Intrinsic Value – March Sees MarketAxess Holdings Expand Credit ADV by 4%

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MARKETAXESS ($NASDAQ:MKTX): MarketAxess Holdings Inc. is a leading operator of an electronic trading platform for fixed-income securities. In March, the company saw a 4% increase in its total credit average daily volume, due to continued growth in market share. This increase indicates that MarketAxess is on track to meet its goal of becoming a leader in the global fixed income markets. The 4% increase in total credit average daily volume was largely driven by strong performance in US high grade and US high yield markets.

This continued growth in market share is expected to benefit the company’s revenues and profits in the future. Overall, MarketAxess Holdings saw a positive trend in March, with an increase in total credit average daily volume and strong performance in US high grade and US high yield markets. This trend is expected to continue as MarketAxess continues to make use of its strong presence in the global fixed income markets.

Price History

MARKETAXESS HOLDINGS had a turbulent week in the markets, with its stock opening on Wednesday at $386.8, but then closing the day at $337.7, a 13.9% plunge from its last closing price of $392.3. Despite this, the company was able to report an increase in its Credit ADV for the month of March, with a 4% expansion from the previous month. The news of this increase in Credit ADV was seen as a positive sign for the company, as it signals an encouraging upward trend in its financial performance. This growth was driven primarily by increased activity in the U.S. high-grade bond market, which saw a 14% month-over-month increase in Credit ADV. This was followed by increases in the Emerging Markets and High Yield bond markets, both up 4%.

The company’s other segments also performed well, with 3% growth in the global Corporate Bond market, and 2% growth in the U.S. Treasury Bond market. Overall, MARKETAXESS HOLDINGS’ ability to expand its Credit ADV is a positive indication of the company’s financial health and stability. With its total Credit ADV now at an all-time high, investors and analysts alike have reason to be optimistic about the future of MARKETAXESS HOLDINGS. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Marketaxess Holdings. More…

Cash Flow Snapshot

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Balance Sheet Snapshot

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Key Ratios Snapshot

Some of the financial key ratios for Marketaxess Holdings are shown below. More…

Analysis – Marketaxess Holdings Intrinsic Value

At GoodWhale, we’ve conducted a comprehensive analysis of MARKETAXESS HOLDINGS and its wellbeing. We’ve determined that the intrinsic value of MARKETAXESS HOLDINGS’ shares is around $424.0, which is calculated by our proprietary Valuation Line. Right now, MARKETAXESS HOLDINGS shares are trading at $337.7, which is lower than its intrinsic value. This indicates that MARKETAXESS HOLDINGS is currently undervalued by 20.3%. More…

Peers

MarketAxess Holdings Inc is a leading financial markets technology company. It provides an electronic trading platform for fixed income securities, including corporate bonds, government and agency bonds, asset-backed securities, and credit default swaps. The company’s competitors include Tradeweb Markets Inc, Aryaman Capital Markets Ltd, and Matsui Securities Co Ltd.

– Tradeweb Markets Inc ($NASDAQ:TW)

Tradeweb Markets Inc is a financial markets platform company. It has a market cap of 10.91B and a ROE of 6.51%. The company offers electronic trading for a variety of fixed income products, including government bonds, corporate bonds, mortgage-backed securities, and credit default swaps. It also provides post-trade processing and analytics. The company was founded in 1996 and is headquartered in New York, New York.

– Aryaman Capital Markets Ltd ($BSE:538716)

With a market cap of 707.85M as of 2022, Aryaman Capital Markets Ltd is a company that is doing quite well. The company has a Return on Equity of 10.69%. The company deals in providing financial services and is based in India. The company is doing quite well in terms of its market cap and ROE.

– Matsui Securities Co Ltd ($TSE:8628)

Matsui Securities Co., Ltd. is a Japanese securities firm headquartered in Tokyo. It is a member of the Nikkei 225 stock index. The company was founded in 1931 and its current president is Takuya Matsui. The company offers a range of services including retail and institutional brokerage, investment banking, and research. It has offices in Tokyo, Osaka, Nagoya, and Fukuoka.

Summary

MarketAxess Holdings Inc. is a leading operator in the electronic trading of fixed-income securities. In March, the company’s total credit ADV increased 4% year-over-year, driven by continued market share gains. This was reflected in the company’s stock price, which declined the same day. Investors should look for MarketAxess’ continued growth and market share expansion, as well as its strong balance sheet and capital base, as key measures of its financial health.

Longer-term, analysts expect the company to benefit from trends in digitalization and automation of fixed income trading. With data-driven insights and advanced technologies, MarketAxess has established itself as a leader in the fixed income space.