Cantor Fitzgerald Cuts MercadoLibre (NASDAQ:MELI) Price Target to $2,350.00

MercadoLibre (NASDAQ:MELI) had its price objective decreased by Cantor Fitzgerald from $2,400.00 to $2,350.00 in a research note published on Tuesday, MarketBeat Ratings reports. Cantor Fitzgerald currently has an overweight rating on the stock.

A number of other research firms also recently weighed in on MELI. Zacks Research raised shares of MercadoLibre from a “strong sell” rating to a “hold” rating in a research report on Friday, February 6th. Wedbush decreased their target price on shares of MercadoLibre from $2,600.00 to $2,400.00 and set an “outperform” rating for the company in a research report on Wednesday, February 25th. Itau BBA Securities reissued an “outperform” rating on shares of MercadoLibre in a research report on Wednesday, February 25th. UBS Group decreased their target price on shares of MercadoLibre from $2,900.00 to $2,700.00 and set a “buy” rating for the company in a research report on Friday, February 27th. Finally, Jefferies Financial Group raised shares of MercadoLibre from a “hold” rating to a “buy” rating and decreased their target price for the company from $2,800.00 to $2,600.00 in a research report on Tuesday, April 7th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, MercadoLibre presently has an average rating of “Moderate Buy” and a consensus target price of $2,685.33.

MercadoLibre Stock Performance

NASDAQ:MELI opened at $1,809.20 on Tuesday. The company has a market capitalization of $91.73 billion, a PE ratio of 45.92, a P/E/G ratio of 0.90 and a beta of 1.49. The company has a 50 day simple moving average of $1,779.53 and a two-hundred day simple moving average of $1,987.40. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.15 and a current ratio of 1.17. MercadoLibre has a fifty-two week low of $1,593.21 and a fifty-two week high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Saturday, February 14th. The company reported $11.03 earnings per share for the quarter. The business had revenue of $8.76 billion during the quarter. MercadoLibre had a net margin of 6.91% and a return on equity of 33.73%. Research analysts anticipate that MercadoLibre will post 50.05 earnings per share for the current year.

Institutional Trading of MercadoLibre

Several hedge funds have recently modified their holdings of the stock. Baillie Gifford & Co. increased its stake in shares of MercadoLibre by 4.9% in the 4th quarter. Baillie Gifford & Co. now owns 3,481,563 shares of the company’s stock valued at $7,012,773,000 after acquiring an additional 164,120 shares in the last quarter. Capital Research Global Investors increased its stake in shares of MercadoLibre by 22.5% in the 4th quarter. Capital Research Global Investors now owns 2,225,031 shares of the company’s stock valued at $4,481,812,000 after acquiring an additional 408,939 shares in the last quarter. Capital World Investors increased its stake in shares of MercadoLibre by 1.3% in the 3rd quarter. Capital World Investors now owns 1,740,129 shares of the company’s stock valued at $4,067,194,000 after acquiring an additional 22,659 shares in the last quarter. Capital International Investors increased its stake in shares of MercadoLibre by 7.3% in the 4th quarter. Capital International Investors now owns 1,725,125 shares of the company’s stock valued at $3,474,880,000 after acquiring an additional 118,018 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of MercadoLibre by 9.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,583,071 shares of the company’s stock valued at $3,188,718,000 after acquiring an additional 137,100 shares in the last quarter. Institutional investors own 87.62% of the company’s stock.

About MercadoLibre

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.