MercadoLibre (NASDAQ:MELI) Price Target Lowered to $2,300.00 at Cantor Fitzgerald

MercadoLibre (NASDAQ:MELI) had its price objective lowered by Cantor Fitzgerald from $2,530.00 to $2,300.00 in a report published on Thursday,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other equities research analysts also recently commented on MELI. Redburn Atlantic assumed coverage on shares of MercadoLibre in a research note on Friday, October 11th. They set a “buy” rating and a $2,800.00 price objective for the company. Susquehanna boosted their price target on MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a research report on Wednesday, August 28th. The Goldman Sachs Group boosted their price target on MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. StockNews.com cut MercadoLibre from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. Finally, Morgan Stanley upped their price target on MercadoLibre from $2,175.00 to $2,500.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, MercadoLibre has an average rating of “Moderate Buy” and an average price target of $2,309.67.

MercadoLibre Trading Up 5.5 %

Shares of NASDAQ:MELI traded up $97.96 during trading on Thursday, reaching $1,872.01. The company’s stock had a trading volume of 1,357,175 shares, compared to its average volume of 267,932. The company has a current ratio of 1.28, a quick ratio of 1.26 and a debt-to-equity ratio of 0.67. MercadoLibre has a 12 month low of $1,324.99 and a 12 month high of $2,161.73. The firm’s 50 day simple moving average is $2,046.45 and its two-hundred day simple moving average is $1,822.55. The stock has a market capitalization of $94.91 billion, a PE ratio of 66.06, a price-to-earnings-growth ratio of 1.30 and a beta of 1.61.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Wednesday, November 6th. The company reported $7.83 EPS for the quarter, missing analysts’ consensus estimates of $11.27 by ($3.44). The company had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $5.25 billion. MercadoLibre had a return on equity of 42.61% and a net margin of 7.57%. On average, research analysts predict that MercadoLibre will post 37.28 EPS for the current fiscal year.

Hedge Funds Weigh In On MercadoLibre

A number of large investors have recently made changes to their positions in the business. GQG Partners LLC grew its stake in shares of MercadoLibre by 442.2% in the 1st quarter. GQG Partners LLC now owns 794,782 shares of the company’s stock valued at $1,201,679,000 after buying an additional 648,198 shares in the last quarter. International Assets Investment Management LLC raised its stake in shares of MercadoLibre by 205,108.3% in the third quarter. International Assets Investment Management LLC now owns 248,302 shares of the company’s stock valued at $509,506,000 after purchasing an additional 248,181 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of MercadoLibre by 43.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company’s stock valued at $1,167,073,000 after purchasing an additional 232,787 shares in the last quarter. Strategic Financial Concepts LLC acquired a new position in MercadoLibre during the second quarter worth $2,913,000. Finally, Janus Henderson Group PLC raised its stake in MercadoLibre by 55.8% during the first quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock worth $557,225,000 after acquiring an additional 132,028 shares in the last quarter. Institutional investors and hedge funds 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.