MKTX · NASDAQ · STOCK
MarketAxess Holdings (MKTX) Stock Analysis
$164.56
52W $108.75 – $195.97
61/100
$5.79B
19.4
0.79
Is MKTX Bullish or Bearish?
Bullish.
Innellis AI committee rates MarketAxess Holdings Inc. (MKTX) Buy with a composite score of 61/100
, based on 6 analysts with 67% agreement.
Last updated October 10, 2026.
What Would Change This View
- Upgrade to Strong Buy
- Requires a committee score of 75.0 — +13.92 from today. Applies on the first day at or above the line; upgrades are never dampened.
- Downgrade to Watch
- Requires the score to fall below 55.0 — -6.08 from today. The band boundary is 60.0, but a one-step downgrade must clear a further margin first. A score oscillating around the line should not change the rating every night.
Executive Summary
The committee is genuinely divided. Risk Analyst sees a compelling case — low leverage (debt-to-equity 0.19) -- balance sheet can absorb a shock. Portfolio Manager remains cautious — sector concentration is already high (hhi 2796.97). This disagreement is itself the signal — the setup is not clean in either direction.
Bull & Bear Case
Bull Case
- ROE of 24.7% shows genuine earnings power backing the valuation — Value
- EPS growing 42.8% YoY — Growth
- 4 consecutive earnings beats -- consistent execution — Growth
- Price structure making higher highs and higher lows — Technical
- Low leverage (debt-to-equity 0.19) -- balance sheet can absorb a shock — Risk
- News sentiment is positive (+0.20 across 10 articles, 14d) — News
Bear Case
- Price-to-book of 5.9x prices in significant intangible value — Value
- Growth rate is decelerating quarter over quarter -- the trend line matters more than the level — Growth
- RSI at 79 is in overbought territory — Technical
- MACD histogram negative -- bearish momentum — Technical
- Daily trend (uptrend) conflicts with the weekly trend (downtrend) -- fighting the larger trend — Technical
Both cases are generated from quantitative data signals, not qualitative or
forward-looking judgement. They summarise what the numbers say today.
Price History (6M)
AI Investment Committee
Committee Consensus
As of October 10, 2026
Overall Committee Score
61/100
Agreement
67%
Analysts
6
Conviction
Moderate
Sector Rank
Top 39%
of 211 Financial Services peers
Value Analyst
neutral
59
/ 100 · High confidence
Fair value -- neither a bargain nor obviously overpriced
+ ROE of 24.7% shows genuine earnings power backing the valuation
− Price-to-book of 5.9x prices in significant intangible value
Growth Analyst
bullish
60
/ 100 · High confidence
Strong, accelerating growth with consistent execution
+ EPS growing 42.8% YoY
− Growth rate is decelerating quarter over quarter -- the trend line matters more than the level
Technical Analyst
neutral
44
/ 100 · High confidence
Mixed or range-bound price action
+ Price structure making higher highs and higher lows
− RSI at 79 is in overbought territory
Risk Analyst
bullish
75
/ 100 · Moderate confidence
Risk profile is manageable -- leverage, volatility, and event exposure all look contained
+ Low leverage (debt-to-equity 0.19) -- balance sheet can absorb a shock
Macro Analyst
bullish
65
/ 100 · Low confidence
Macro backdrop is supportive of risk assets generally, and this name's beta works in its favor
News Analyst
bullish
64
/ 100 · Low confidence
News flow and recent filings/analyst actions are net positive
+ News sentiment is positive (+0.20 across 10 articles, 14d)
Portfolio Manager
bearish
30
/ 100 · Moderate confidence
The existing book itself argues for caution here, independent of how good this specific stock looks
− Sector concentration is already high (HHI 2796.97)
Investment Thesis Evolution
Committee score moved marginally from 61.1 to 61.1.
- New bearish signals: 1 appeared.
- Bearish pressure eased: 1 signal(s) disappeared.
Analyst-level changes:
- Technical Analyst: +1 bearish signal(s).
Comparing 2026-10-09 to 2026-10-10 (1 day apart).
Technical Analysis
RSI (14)
79.3
Overbought
MACD Histogram
-0.363
Bearish Momentum
Trend Direction
Uptrend
Weekly: Downtrend
Market Structure
Mixed
Support
$157.93
Resistance
$184.38
Bollinger %B
0.96
Inside Bands
Price vs Moving Averages
EMA 9
$164.17
Above
EMA 21
$163.48
Above
EMA 50
$158.32
Above
EMA 200
$157.52
Above
Fundamental Analysis
Valuation
78
Growth
79
Profitability
100
Financial Health
90
Cash Flow
70
Valuation
P/E Ratio
19.4×
P/B Ratio
4.68×
PEG Ratio
0.46
Dividend Yield
1.88%
52W High
$195.97
52W Low
$108.75
Quality & Growth
ROE
2152.7%
ROA
1363.6%
Gross Margin
6752.4%
Operating Margin
4050.8%
Revenue Growth YoY
—
Debt / Equity
0.14
AI Fundamental Assessment
P/E ratio of 19.4 (inexpensive relative to a 15-40x range); Price-to-book of 4.7x; PEG ratio of 0.5 (under 1.0 suggests growth is undervalued relative to price); Return on equity of 21.5%; Return on assets of 13.6%; Net margin of 35.2%; Gross margin of 67.5%; Current ratio of 1.76 (healthy short-term liquidity); Debt-to-equity of 0.14; Free cash flow per share is positive (4.54); Most recent quarter beat estimates by 3.2%; 4 consecutive earnings beats; EPS growth decelerating (-10.4% -> -13.3% QoQ); Analyst estimates rising over recent quarters
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