Stock Pulse
MarketAxess (MKTX) reported record Q1 2025 trading volume (ADV) of $42.9 billion, a 31% year-over-year increase driven by growth in emerging markets, Eurobonds, and municipal bonds [2], [6]. This strong performance, along with enhancements to portfolio and block trading solutions, reinforces MKTX's leading position in electronic bond trading [6], [7]. Despite a dip in U.S. high-yield market share [2] and a decrease in fees per million due to product mix [6], the increased volume is expected to boost Q1 2025 results [2]. While BofA Securities raised its price target to $191, it maintains an "Underperform" rating [5]. Longer-term projections suggest earnings growth of 5.8% in 2025 and 12.1% in 2026 [3]. Recent stock performance has been slightly negative in the short term [1], but the company's low debt and investments in technology are seen as positive factors [4].