Posted 3/26/2024, 10:00:00 AM
MarketAxess Stock Slumps Despite Leadership in Growing Electronic Bond Trading
- MarketAxess is a leading electronic bond trading platform, but its stock is down 63% from all-time highs
- It missed the initial shift to portfolio trading in bonds, but is catching up with new offerings
- Remains highly profitable (34% profit margin) enabling 14 years of dividend growth
- Now trades at a once-in-a-decade low P/E multiple of 32
- As bond market electronification continues, MarketAxess is well positioned alongside competitor Tradeweb
