MercadoLibre (NASDAQ:MELI) Price Target Cut to $1,800.00

MercadoLibre (NASDAQ:MELI) had its price objective cut by analysts at Wedbush from $2,000.00 to $1,800.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Wedbush’s price objective points to a potential upside of 31.98% from the stock’s current price.

Several other research firms also recently weighed in on MELI. UBS Group dropped their price objective on MercadoLibre from $1,900.00 to $1,800.00 and set a “buy” rating for the company in a research note on Wednesday, April 17th. Susquehanna raised their price objective on MercadoLibre from $1,850.00 to $2,000.00 and gave the company a “positive” rating in a research note on Friday, February 23rd. DZ Bank raised MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 price objective for the company in a research note on Tuesday. StockNews.com downgraded MercadoLibre from a “buy” rating to a “hold” rating in a research report on Thursday, February 29th. Finally, JPMorgan Chase & Co. raised their price target on MercadoLibre from $2,000.00 to $2,150.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 27th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $1,790.36.

MercadoLibre Stock Down 0.5 %

MELI opened at $1,363.83 on Wednesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.27 and a quick ratio of 1.24. The business has a 50 day simple moving average of $1,530.62 and a 200-day simple moving average of $1,527.51. The stock has a market capitalization of $69.15 billion, a P/E ratio of 69.80, a P/E/G ratio of 0.91 and a beta of 1.44. MercadoLibre has a 12 month low of $1,063.02 and a 12 month high of $1,825.00.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Thursday, February 22nd. The company reported $3.25 EPS for the quarter, missing the consensus estimate of $6.66 by ($3.41). MercadoLibre had a net margin of 6.82% and a return on equity of 39.07%. The business had revenue of $4.26 billion during the quarter, compared to analyst estimates of $4.14 billion. During the same period in the prior year, the business earned $3.25 earnings per share. The firm’s quarterly revenue was up 42.0% compared to the same quarter last year. On average, equities analysts anticipate that MercadoLibre will post 34.46 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MercadoLibre

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Morgan Stanley lifted its stake in shares of MercadoLibre by 10.2% during the third quarter. Morgan Stanley now owns 2,558,467 shares of the company’s stock worth $3,243,832,000 after purchasing an additional 236,744 shares in the last quarter. Jennison Associates LLC lifted its stake in shares of MercadoLibre by 1.3% during the third quarter. Jennison Associates LLC now owns 2,233,430 shares of the company’s stock worth $2,831,721,000 after purchasing an additional 28,095 shares in the last quarter. WCM Investment Management LLC lifted its stake in shares of MercadoLibre by 74.8% during the fourth quarter. WCM Investment Management LLC now owns 1,162,724 shares of the company’s stock worth $1,838,964,000 after purchasing an additional 497,535 shares in the last quarter. Capital International Investors lifted its stake in shares of MercadoLibre by 0.4% during the fourth quarter. Capital International Investors now owns 1,037,070 shares of the company’s stock worth $1,630,740,000 after purchasing an additional 4,317 shares in the last quarter. Finally, Capital World Investors lifted its stake in shares of MercadoLibre by 13.3% during the fourth quarter. Capital World Investors now owns 750,720 shares of the company’s stock worth $1,179,787,000 after purchasing an additional 88,359 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

About MercadoLibre

MercadoLibre, Inc operates online commerce platforms in the United States. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases digitally; and Mercado Pago FinTech platform, a financial technology solution platform, which facilitates transactions on and off its marketplaces by providing a mechanism that allows its users to send and receive payments online, as well as allows users to transfer money through their websites or on the apps.