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

MercadoLibre (NASDAQ:MELI) had its target price cut by Cantor Fitzgerald from $3,000.00 to $2,400.00 in a research report sent to investors on Wednesday, MarketBeat reports. They currently have an overweight rating on the stock.

A number of other research firms have also issued reports on MELI. JPMorgan Chase & Co. increased their target price on MercadoLibre from $1,950.00 to $2,300.00 and gave the company a “neutral” rating in a report on Tuesday, February 25th. The Goldman Sachs Group lifted their target price on MercadoLibre from $2,400.00 to $2,750.00 and gave the company a “buy” rating in a research note on Monday, March 3rd. Morgan Stanley reduced their price target on shares of MercadoLibre from $2,650.00 to $2,560.00 and set an “overweight” rating for the company in a research report on Thursday, April 10th. Wedbush lowered their price objective on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating on the stock in a research report on Monday, January 6th. Finally, New Street Research upgraded shares of MercadoLibre from a “neutral” rating to a “buy” rating and increased their target price for the stock from $2,000.00 to $2,300.00 in a research report on Thursday, January 30th. Two analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, MercadoLibre currently has an average rating of “Buy” and a consensus target price of $2,379.71.

MercadoLibre Stock Down 2.5 %

MELI opened at $2,064.37 on Wednesday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. The stock’s fifty day moving average is $2,040.86 and its 200-day moving average is $1,959.57. MercadoLibre has a one year low of $1,324.99 and a one year high of $2,374.54. The company has a market capitalization of $104.66 billion, a PE ratio of 54.76, a P/E/G ratio of 1.12 and a beta of 1.62.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results on Thursday, February 20th. The company reported $12.61 earnings per share for the quarter, topping analysts’ consensus estimates of $10.21 by $2.40. The firm had revenue of $6.06 billion for the quarter, compared to analysts’ expectations of $5.94 billion. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. On average, equities analysts predict that MercadoLibre will post 43.96 EPS for the current fiscal year.

Institutional Trading of MercadoLibre

Several large investors have recently modified their holdings of the company. Principal Financial Group Inc. grew its position in shares of MercadoLibre by 20.9% in the third quarter. Principal Financial Group Inc. now owns 59,430 shares of the company’s stock valued at $121,948,000 after purchasing an additional 10,272 shares during the last quarter. Nordea Investment Management AB lifted its holdings in shares of MercadoLibre by 37.8% during the fourth quarter. Nordea Investment Management AB now owns 157,688 shares of the company’s stock worth $271,897,000 after buying an additional 43,215 shares during the last quarter. Oppenheimer & Co. Inc. boosted its position in shares of MercadoLibre by 11.7% in the fourth quarter. Oppenheimer & Co. Inc. now owns 1,369 shares of the company’s stock valued at $2,328,000 after acquiring an additional 143 shares during the period. Assenagon Asset Management S.A. grew its stake in shares of MercadoLibre by 12.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 101,511 shares of the company’s stock worth $172,613,000 after acquiring an additional 11,166 shares during the last quarter. Finally, Ninety One North America Inc. bought a new stake in MercadoLibre in the 4th quarter valued at $4,923,000. 87.62% of the stock is owned by institutional investors.

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.