UBS Group Trims MercadoLibre (NASDAQ:MELI) Target Price to $1,800.00

MercadoLibre (NASDAQ:MELI) had its price objective cut by UBS Group from $1,900.00 to $1,800.00 in a report published on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

A number of other research firms have also recently weighed in on MELI. JPMorgan Chase & Co. boosted their target price on shares of MercadoLibre from $2,000.00 to $2,150.00 and gave the company an overweight rating in a research note on Tuesday, February 27th. Wedbush reiterated an outperform rating and issued a $2,000.00 target price on shares of MercadoLibre in a research note on Tuesday, March 5th. StockNews.com cut shares of MercadoLibre from a buy rating to a hold rating in a research note on Thursday, February 29th. Susquehanna boosted their target price on shares of MercadoLibre from $1,850.00 to $2,000.00 and gave the company a positive rating in a research note on Friday, February 23rd. Finally, Barclays dropped their target price on shares of MercadoLibre from $2,000.00 to $1,800.00 and set an overweight rating on the stock in a research note on Wednesday, April 3rd. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, MercadoLibre presently has a consensus rating of Moderate Buy and an average price target of $1,813.85.

MercadoLibre Stock Down 1.0 %

MercadoLibre stock opened at $1,356.43 on Wednesday. MercadoLibre has a fifty-two week low of $1,063.02 and a fifty-two week high of $1,825.00. The stock has a market cap of $68.77 billion, a PE ratio of 69.42, a price-to-earnings-growth ratio of 0.88 and a beta of 1.44. The firm’s 50-day simple moving average is $1,559.84 and its 200 day simple moving average is $1,523.45. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.27.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Thursday, February 22nd. The company reported $3.25 earnings per share for the quarter, missing the consensus estimate of $6.66 by ($3.41). MercadoLibre had a return on equity of 39.07% and a net margin of 6.82%. The firm had revenue of $4.26 billion for the quarter, compared to analysts’ expectations of $4.14 billion. During the same quarter last year, the firm posted $3.25 earnings per share. The firm’s revenue for the quarter was up 42.0% compared to the same quarter last year. Research analysts predict that MercadoLibre will post 35.77 EPS for the current fiscal year.

Institutional Trading of MercadoLibre

A number of institutional investors have recently modified their holdings of the business. WCM Investment Management LLC increased its holdings in MercadoLibre by 74.8% during the 4th quarter. WCM Investment Management LLC now owns 1,162,724 shares of the company’s stock worth $1,838,964,000 after acquiring an additional 497,535 shares during the period. Norges Bank bought a new stake in MercadoLibre during the 4th quarter worth approximately $554,386,000. Morgan Stanley increased its holdings in MercadoLibre by 10.2% during the 3rd quarter. Morgan Stanley now owns 2,558,467 shares of the company’s stock worth $3,243,832,000 after acquiring an additional 236,744 shares during the period. International Assets Investment Management LLC increased its holdings in MercadoLibre by 112,333.8% during the 4th quarter. International Assets Investment Management LLC now owns 146,164 shares of the company’s stock worth $229,703,000 after acquiring an additional 146,034 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in MercadoLibre by 1,432.2% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 127,355 shares of the company’s stock worth $200,140,000 after acquiring an additional 119,043 shares during the period. 87.62% of the stock is currently 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.