UBS Group Issues Pessimistic Forecast for MercadoLibre (NASDAQ:MELI) Stock Price

MercadoLibre (NASDAQ:MELI) had its target price reduced by stock analysts at UBS Group from $3,000.00 to $2,900.00 in a note issued to investors on Monday,MarketScreener reports. The brokerage presently has a “buy” rating on the stock. UBS Group’s price target indicates a potential upside of 48.51% from the company’s current price.

MELI has been the subject of a number of other research reports. Scotiabank began coverage on shares of MercadoLibre in a report on Monday, July 28th. They issued a “sector outperform” rating and a $3,500.00 price objective for the company. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of MercadoLibre in a research note on Friday, October 31st. Wedbush lifted their price target on MercadoLibre from $2,700.00 to $2,800.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Jefferies Financial Group reiterated a “hold” rating and set a $2,800.00 price target on shares of MercadoLibre in a report on Tuesday, August 5th. Finally, Raymond James Financial restated a “strong-buy” rating and issued a $2,750.00 price target on shares of MercadoLibre in a research report on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $2,848.82.

MercadoLibre Stock Up 0.0%

MELI stock opened at $1,952.72 on Monday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.20 and a quick ratio of 1.18. The company’s 50 day simple moving average is $2,222.62 and its 200-day simple moving average is $2,364.08. The firm has a market capitalization of $99.00 billion, a PE ratio of 47.65, a P/E/G ratio of 1.56 and a beta of 1.51. MercadoLibre has a 12 month low of $1,646.00 and a 12 month high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results on Wednesday, October 29th. The company reported $8.32 earnings per share for the quarter, missing the consensus estimate of $9.88 by ($1.56). MercadoLibre had a net margin of 7.93% and a return on equity of 41.35%. The business had revenue of $7.41 billion during the quarter, compared to analyst estimates of $7.19 billion. During the same quarter last year, the firm posted $7.83 earnings per share. The company’s revenue was up 39.5% on a year-over-year basis. Equities analysts expect that MercadoLibre will post 43.96 earnings per share for the current fiscal year.

Institutional Trading of MercadoLibre

A number of large investors have recently added to or reduced their stakes in the company. Optimize Financial Inc grew its position in shares of MercadoLibre by 1.7% in the first quarter. Optimize Financial Inc now owns 238 shares of the company’s stock valued at $464,000 after purchasing an additional 4 shares during the last quarter. Range Financial Group LLC lifted its position in shares of MercadoLibre by 2.7% during the 2nd quarter. Range Financial Group LLC now owns 188 shares of the company’s stock worth $491,000 after buying an additional 5 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. lifted its stake in MercadoLibre by 26.3% in the 2nd quarter. E Fund Management Hong Kong Co. Ltd. now owns 24 shares of the company’s stock valued at $63,000 after purchasing an additional 5 shares during the last quarter. Quadcap Wealth Management LLC grew its position in MercadoLibre by 4.2% during the 2nd quarter. Quadcap Wealth Management LLC now owns 124 shares of the company’s stock worth $324,000 after acquiring an additional 5 shares during the last quarter. Finally, PFW Advisors LLC raised its holdings in MercadoLibre by 4.8% in the 3rd quarter. PFW Advisors LLC now owns 110 shares of the company’s stock valued at $257,000 after buying an additional 5 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Company Profile

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.