MercadoLibre (NASDAQ:MELI) PT Lowered to $1,250.00

MercadoLibre (NASDAQ:MELIGet Rating) had its price target cut by investment analysts at Barclays from $1,500.00 to $1,250.00 in a research note issued to investors on Thursday, Marketbeat Ratings reports. The firm currently has an “overweight” rating on the stock. Barclays‘s target price points to a potential upside of 21.97% from the stock’s previous close.

MELI has been the topic of several other reports. Credit Suisse Group boosted their target price on MercadoLibre from $1,430.00 to $1,470.00 and gave the stock an “outperform” rating in a report on Thursday. Jefferies Financial Group cut their price objective on shares of MercadoLibre from $850.00 to $800.00 in a research report on Thursday, July 21st. Stifel Nicolaus decreased their target price on shares of MercadoLibre from $1,200.00 to $1,000.00 in a report on Friday, July 15th. New Street Research assumed coverage on shares of MercadoLibre in a report on Wednesday, July 6th. They set a “buy” rating and a $1,100.00 price target on the stock. Finally, KGI Securities started coverage on shares of MercadoLibre in a report on Monday, June 6th. They issued an “outperform” rating for the company. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,392.00.

MercadoLibre Stock Down 1.0 %

Shares of MercadoLibre stock opened at $1,024.81 on Thursday. MercadoLibre has a 1 year low of $600.68 and a 1 year high of $1,970.13. The firm has a market cap of $51.63 billion, a price-to-earnings ratio of 216.66 and a beta of 1.68. The company has a 50-day moving average of $737.27 and a 200 day moving average of $924.67. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.40 and a quick ratio of 1.36.

MercadoLibre (NASDAQ:MELIGet Rating) last released its earnings results on Wednesday, August 3rd. The company reported $2.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.75. MercadoLibre had a net margin of 2.68% and a return on equity of 21.93%. During the same quarter last year, the business earned $1.37 earnings per share. As a group, sell-side analysts anticipate that MercadoLibre will post 6.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MercadoLibre

Several hedge funds and other institutional investors have recently modified their holdings of MELI. Retirement Planning Co of New England Inc. bought a new position in MercadoLibre in the fourth quarter valued at about $26,000. Masso Torrence Wealth Management Inc. bought a new stake in shares of MercadoLibre during the 4th quarter valued at $31,000. San Luis Wealth Advisors LLC purchased a new stake in shares of MercadoLibre in the 1st quarter worth $31,000. UMB Bank N A MO increased its position in MercadoLibre by 550.0% in the first quarter. UMB Bank N A MO now owns 26 shares of the company’s stock worth $31,000 after buying an additional 22 shares in the last quarter. Finally, Prospera Financial Services Inc bought a new position in shares of MercadoLibre in the first quarter worth about $31,000. 79.61% of the stock is owned by institutional investors.

MercadoLibre Company Profile

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MercadoLibre, Inc operates online commerce platforms in Latin America. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases online; and Mercado Pago FinTech, 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.

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