Tradeweb Markets: Strong Buy Rating Maintained, Price Target Raised by Citigroup Analys

By Don Francis, Editor
July 30, 2023 6:27 AM UTC
Tradeweb Markets: Strong Buy Rating Maintained, Price Target Raised by Citigroup Analys

Citigroup's Christopher Allen raised their price target on Tradeweb Markets Inc (NASDAQ: TW) by 12.20% from $82.00 to $92.00 on July 28, 2023. The analyst maintained their Strong Buy rating on the stock.

Allen's update came after analyzing Tradeweb Markets' second-quarter earnings report and participating in the earnings call. According to Allen, the company reported a "solid" Q2 win, a robust activity update for July, and positive price and expenses data. Despite some challenges in the second quarter, conditions improved over the quarter and have remained favorable through July.

Several other analysts also updated their ratings on Tradeweb Markets on July 28: - Morgan Stanley's Michael Cyprys raised their price target by 8.05% and maintained their Strong Buy rating on the stock. - Barclays's Jeremy Campbell raised their price target by 10.47% and maintained their Strong Buy rating on the stock. - Raymond James's Patrick O'Shaughnessy raised their price target by 3.57% and maintained their Buy rating on the stock.

Currently, 66.67% of top-rated analysts rate TW as a Strong Buy, 16.67% consider it a Buy, 16.67% see it as a Hold, and no analysts recommend selling the stock.

The consensus forecast among analysts is that Tradeweb Markets' upcoming year will deliver earnings per share (EPS) of $1.91. If the analysts' predictions are accurate, TW's next yearly EPS will be up by 19.62% compared to the previous year.

In the period since Tradeweb Markets' last quarterly report, the stock price has risen by 96.65%. Year-over-year, the stock has increased by 18.29%. During this period, TW has outperformed the S&P 500, which has risen by 12.52%.

Christopher Allen, the Citigroup analyst who updated the rating, is ranked in the top 19% of Wall Street analysts by WallStreetZen. With an average return of 8.15% and a win rate of 68.00%, Allen specializes in the Technology and Financial Services sectors.

Tradeweb Markets Inc. operates electronic marketplaces globally, facilitating trading in various asset classes such as rates, credit, money markets, and equities. The company offers pre-trade data and analytics, trade execution and processing, as well as post-trade data, analytics, and reporting services. Tradeweb serves institutional investors in 45 markets across 25 currencies, providing flexible order and trading systems. They also offer trading solutions for financial advisory firms and traders. The company serves a network of approximately 2,500 clients, including asset managers, hedge funds, insurance companies, central banks, banks and dealers, proprietary trading firms, retail brokerage and financial advisory firms, and regional dealers. Tradeweb Markets Inc. was founded in 1996 and is headquartered in New York, New York. It is a subsidiary of Refinitiv Parent Limited.

Many investors find analysts' recommendations and price targets to be useful data points. However, different investors have different priorities and risk profiles. All investors should conduct their own investment due diligence before buying a stock.

What is the price target for Tradeweb Markets?

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