Here's Why MarketAxess Holdings Fell 18.7% in the First Half of 2021
Shares of the fixed-income trading fintech platform MarketAxess Holdings (NASDAQ: MKTX) fell 18.7% in the first half of the year according to data provided by S&P Global Market Intelligence. MarketAxess has seen volatility fall in the fixed-income space, causing trading activity to slow down and analysts to reduce the price target for the company.
MarketAxess had a tremendous year last year because of elevated volatility and trading activity in fixed-income assets -- its specialty. Last year, the company saw revenue grow 35%, while diluted earnings per share (EPS) increased 45%.
The solid performance carried over into the first quarter of this year, with the company posting record trading activity. Trading volume was stellar, with trading on the MarketAxess Open Trading platform up 20% from the year before and international client volume up 18%. Revenue grew by 16% to $195 million in the quarter, while diluted EPS increased 7.7% to $2.11.
Source Fool.com
