Valued at $8.4 billion by market cap, New York-based MarketAxess Holdings Inc. (MKTX) operates an electronic trading platform for institutional investors and broker-dealer companies worldwide. It focuses on expanding liquidity opportunities, improving execution quality and cost savings across global fixed-income markets.

MarketAxess is set to announce its Q1 results before the markets open on Wednesday, May 7. Ahead of the event, analysts expect MKTX to report a non-GAAP profit of $1.82 per share, down 5.2% from $1.92 per share reported in the year-ago quarter. On a positive note, the company has surpassed Wall Street’s bottom-line estimates in each of the past four quarters.

For the full fiscal 2025, MKTX is expected to report an adjusted EPS of $7.62, up 4.7% from $7.28 in fiscal 2024. While in fiscal 2026, its earnings are expected to surge 12.5% year-over-year to $8.57 per share.

MKTX stock has gained 8.8% over the past 52 weeks, notably outpacing the S&P 500 Index’s ($SPX) 5.5% uptick while lagging behind the Financial Select Sector SPDR Fund’s (XLF) 15.4% surge over the same time frame.

MarketAxess’ stock prices rose 1.6% after the release of its Q4 results on Feb. 6. Driven by a notable growth in emerging markets and Eurobond commissions, the company’s topline increased nearly 3% year-over-year to $202.4 million. However, this figure fell short of Street expectations by a thin margin. Meanwhile, its net income for the quarter decreased almost 6% year-over-year to $65.1 million. Nonetheless, its earnings of $1.73 per share surpassed the consensus estimates by 1.8%, which boosted investor confidence.

The consensus view on MKTX stock is cautiously optimistic, with a “Moderate Buy” rating overall. Of the 14 analysts covering the stock, opinions include four “Strong Buys,” one “Moderate Buy,” eight “Holds,” and one “Moderate Sell.” Its mean price target of $234.83 suggests a modest 5.6% upside potential from current price levels.