On June 30, Tradeweb Markets rose 6.91% in regular trading, trading at $98.49/share, with turnover of $103 million.
On the news front, Goldman Sachs upgraded Tradeweb Markets from Neutral to Buy and raised its price target from $128 to $146. According to FactSet, the stock currently carries an average analyst rating of overweight with a mean price target of $135.79. UBS also maintains a Buy rating with a $150 target.
The upgrade follows strong fundamental momentum. In Q1, the company reported revenue of $617.76 million, beating the $605.36 million estimate, while adjusted EPS of $1.08 exceeded consensus of $1.07, representing a 25.58% year-over-year increase. The company also posted record January trading volumes of $65.5 trillion and a 23.4% ADV increase in February. Recent product expansions include electronic spread trading for European credit bonds and a partnership with Citi and RBC Capital Markets to extend US Treasury algorithmic execution services.
Tradeweb Markets Inc. is a leading electronic marketplace operator serving over 3,000 institutional clients across 85+ countries in rates, credit, equities, and money markets.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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