MarketAxess (MKTX)
NASDAQFinancialsFinancial - Capital MarketsSnapshot 2026-10-29
$164.92+0.06%
Close 2026-10-29 · 1-day change
NASDAQFinancialsFinancial - Capital MarketsSnapshot 2026-10-29
Research Workspace
Put MKTX beside peers and holdings, graph the same metric, and keep your notes with the evidence.
Daily closes. Earnings/event dots are placed inline.
Industries move in repeating boom-and-bust cycles. This shows where this stock’s industry sits in that cycle, stage by stage (recovery → expansion → supercycle → steady → deceleration → contraction), from its fundamentals (orders, revenue, capital spending), not the stock’s price.
A booming industry is a tailwind for the names in it; a contracting one is a headwind. Companies in the same industry tend to rise and fall together with the cycle, the way a tide lifts and lowers every boat in the harbor at once, so a large part of a stock’s swing can come from where its industry sits rather than from the company itself. It’s context for reading the company’s results, not a buy/sell call. Full explanation →
Financials is in steady. Describes the industry's cycle state, not a call on this stock.
The stage band shows the industry’s cycle over the chart’s timeline (each color a stage); a ▼ marks a quarter its growth inflected down — amber is an unconfirmed watch, red is confirmed the next quarter. Use “Overlay cycle on chart” to tint the price chart by stage. The industry’s fundamentals, not a signal on this stock.
Primary pillar under pressure — Operating income at least $100.9M in Q1 2026: Comparison needs review.
View ThesisRevenue growth is slowing — up about 4% over the past year and decelerating.
View GrowthMiddle-of-the-pack quality for its industry.
View QualityMiddle-of-the-pack management execution.
View ManagementExpectations look high — the market is pricing in about 35% growth a year, above the roughly 8% analysts expect, leaving little room for error.
View ValuationThis stock is volatile — it swings about 0% on a typical day and fell roughly 44% in its worst 12-month stretch.
View RiskMKTX’s durable trading franchise underpins its growth case, though revenue growth recently slowed. Revenue rose 12% year over year in Q1 FY2026, after 1% growth in Q3 2026. Q1 FY2026 earnings beat estimates, but the latest reported quarter missed earnings and revenue estimates. MKTX trades at 21× P/E versus a 12× peer median, near its 21× historical multiple. The market is pricing in more growth than our forecast, leaving expectations full. A 26% modeled next-quarter miss probability and fragile cash backing threaten the premium. Peer multiples imply a price about 35% below where it trades. The thesis is on watch; this read is provisional.
Trailing returns as of 2026-10-29. MKTX is total return (includes dividends); the S&P 500 benchmark is price return (the index excludes dividends).
Based on 12 analysts currently covering MKTX (as of Oct 2026).
Based on 4 Wall Street analysts offering 12-month price targets for MKTX in the last 4 months.
Continue this research
Compare MKTX with peers and holdings, graph the same reported metric, keep your questions beside the evidence, and return when the facts change.
Compare now without an account. Saving and monitoring require an account.
| Compare | Company | Living FV | P/E | Revenue % | Quality |
|---|---|---|---|---|---|
| MKTX Selected company | Graph | Compare | Trend | Review | |
| Peer Add a competitor | Graph | Compare | Trend | Review | |
| Holding Compare a holding | Graph | Compare | Trend | Review |
Selected metric trend
Quarterly · checked companies · value or % of revenue
A consensus fair price across 10 valuation methods, at three horizons. As of 2026-10-29. Estimates are diagnostics, not price targets. Short-horizon estimates are close to coin-flips, so confidence is a method-agreement read, not a prediction.
Today's peer multiple on trailing earnings, with no growth credited. This is the headline read.
Adds projected growth, so it leans optimistic by design. Read it as upside context, not a base case.
A price-focused, side-by-side fair-value read versus Financial Exchanges & Data — fair value, gap to price, and forward P/E.
Compare the value case
Put MKTX next to peers and holdings, compare Living FV and multiples, then graph the driver behind the difference.
Earnings and revenue misses indicate near-term operating weakness, but do not establish a break in the thesis.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
End-of-day figures as of 2026-10-29. EPS is implied from price ÷ P/E. Not investment advice.
Current $164.92
The last 12 months of price, then the range of analyst 12-month targets from today’s $164.92.
Analyst ratings and price targets are third-party Wall Street estimates, not QuarterlyIQ’s view. Not investment advice.
A long-thesis check that carries the widest uncertainty of the three horizons.
Top 10% on quality vs scored peers
Direction of the business behind the multiple. Bands are backend reads; trailing-12-month basis.
Early antitrust clearance advances the merger, subject to remaining approvals.
HSR refiling resets review timing; it is procedural, not an approval or rejection.
Threatens: Increase revenue and expand strategic channels
Competition-driven rating downgrade raises credible concerns about growth and market position.
AI tools could significantly enhance competitive position.
Advances: Expand revenue and strategic channels with focus on block and portfolio trading
Reported monthly volume and market-share gains support channel expansion and trading growth.
Advances: Invest in technology and new product development
Strong quarterly results and AI-related growth claims support investment and expansion objectives.
Threatens: Increase revenue and expand strategic channels
Rating cut tied to revenue concerns signals growth risks, though no thesis break is indicated.