MercadoLibre (NASDAQ:MELI) Price Target Lowered to $2,400.00 at Cantor Fitzgerald

MercadoLibre (NASDAQ:MELI) had its price target decreased by investment analysts at Cantor Fitzgerald from $3,000.00 to $2,400.00 in a report issued on Wednesday, MarketBeat.com reports. The brokerage presently has an “overweight” rating on the stock. Cantor Fitzgerald’s price objective suggests a potential upside of 14.32% from the stock’s current price.

Several other equities analysts also recently commented on MELI. The Goldman Sachs Group boosted their target price on shares of MercadoLibre from $2,400.00 to $2,750.00 and gave the stock a “buy” rating in a report on Monday, March 3rd. Benchmark began coverage on MercadoLibre in a report on Tuesday. They issued a “buy” rating and a $2,500.00 target price on the stock. New Street Research upgraded MercadoLibre from a “neutral” rating to a “buy” rating and raised their price target for the company from $2,000.00 to $2,300.00 in a report on Thursday, January 30th. Morgan Stanley decreased their price objective on MercadoLibre from $2,650.00 to $2,560.00 and set an “overweight” rating on the stock in a report on Thursday, April 10th. Finally, Barclays boosted their price target on shares of MercadoLibre from $2,200.00 to $2,500.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $2,415.94.

MercadoLibre Stock Performance

Shares of NASDAQ MELI opened at $2,099.37 on Wednesday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. MercadoLibre has a 1 year low of $1,324.99 and a 1 year high of $2,374.54. The firm has a fifty day moving average price of $2,042.00 and a 200-day moving average price of $1,959.90. The stock has a market cap of $106.43 billion, a PE ratio of 55.69, a price-to-earnings-growth ratio of 1.12 and a beta of 1.62.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Thursday, February 20th. The company reported $12.61 EPS for the quarter, beating the consensus estimate of $10.21 by $2.40. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. The business had revenue of $6.06 billion for the quarter, compared to the consensus estimate of $5.94 billion. Equities analysts anticipate that MercadoLibre will post 43.96 earnings per share for the current fiscal year.

Institutional Trading of MercadoLibre

Large investors have recently made changes to their positions in the stock. Human Investing LLC purchased a new stake in MercadoLibre in the 4th quarter valued at about $26,000. Park Square Financial Group LLC bought a new position in MercadoLibre in the fourth quarter worth approximately $26,000. Pacific Capital Wealth Advisors Inc. increased its holdings in MercadoLibre by 220.0% during the 4th quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company’s stock worth $27,000 after purchasing an additional 11 shares during the period. Brown Lisle Cummings Inc. lifted its holdings in shares of MercadoLibre by 100.0% in the 4th quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company’s stock worth $27,000 after buying an additional 8 shares during the period. Finally, Covestor Ltd bought a new position in shares of MercadoLibre during the 4th quarter worth $27,000. 87.62% of the stock is owned by hedge funds and other institutional investors.

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.