Tradeweb Markets shares surged 8.2% to $99.66 after Goldman Sachs upgraded the stock to Buy from Neutral and raised its price target to $146 from $128. The upgrade was driven by expectations of strong long-term earnings momentum from electronic trading adoption, broader asset-class coverage, and sustained operating leverage. Tradeweb is expected to report quarterly earnings of $0.97 per share, up 11.5% year-over-year, on revenues of $568.65 million, a 10.9% increase. The consensus EPS estimate for the quarter has been revised marginally higher over the last 30 days. The stock currently carries a Zacks Rank #3 (Hold).
Tradeweb Markets IncGoldman Sachs upgraded Tradeweb to Buy and raised price target
Moelis & Co