Wedbush Cuts MercadoLibre (NASDAQ:MELI) Price Target to $1,800.00

MercadoLibre (NASDAQ:MELI) had its price objective trimmed by Wedbush from $2,000.00 to $1,800.00 in a research report report published on Wednesday, Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other equities analysts have also commented on the stock. Barclays decreased their price target on shares of MercadoLibre from $2,000.00 to $1,800.00 and set an overweight rating on the stock in a report on Wednesday, April 3rd. UBS Group decreased their price target on shares of MercadoLibre from $1,900.00 to $1,800.00 and set a buy rating on the stock in a report on Wednesday, April 17th. JPMorgan Chase & Co. increased their target price on shares of MercadoLibre from $2,000.00 to $2,150.00 and gave the company an overweight rating in a report on Tuesday, February 27th. Citigroup reduced their target price on shares of MercadoLibre from $1,990.00 to $1,940.00 and set a buy rating on the stock in a report on Wednesday, March 27th. Finally, StockNews.com lowered shares of MercadoLibre from a buy rating to a hold rating in a report on Thursday, February 29th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $1,790.36.

MercadoLibre Price Performance

Shares of NASDAQ:MELI opened at $1,406.00 on Wednesday. The company’s fifty day moving average price is $1,523.37 and its 200-day moving average price is $1,528.68. The firm has a market capitalization of $71.28 billion, a price-to-earnings ratio of 71.96, a PEG ratio of 0.91 and a beta of 1.44. MercadoLibre has a one year low of $1,063.02 and a one year high of $1,825.00. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.27 and a quick ratio of 1.24.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results on Thursday, February 22nd. The company reported $3.25 EPS for the quarter, missing analysts’ consensus estimates of $6.66 by ($3.41). The company had revenue of $4.26 billion during the quarter, compared to the consensus estimate of $4.14 billion. MercadoLibre had a return on equity of 39.07% and a net margin of 6.82%. MercadoLibre’s quarterly revenue was up 42.0% on a year-over-year basis. During the same period in the previous year, the company earned $3.25 EPS. On average, equities research analysts anticipate that MercadoLibre will post 34.46 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MercadoLibre

Several institutional investors have recently added to or reduced their stakes in MELI. WCM Investment Management LLC boosted its position in MercadoLibre by 74.8% during the 4th quarter. WCM Investment Management LLC now owns 1,162,724 shares of the company’s stock valued at $1,838,964,000 after buying an additional 497,535 shares during the period. Norges Bank purchased a new stake in shares of MercadoLibre in the 4th quarter worth about $554,386,000. Morgan Stanley lifted its position in shares of MercadoLibre by 10.2% in the 3rd quarter. Morgan Stanley now owns 2,558,467 shares of the company’s stock worth $3,243,832,000 after purchasing an additional 236,744 shares during the period. International Assets Investment Management LLC lifted its position in shares of MercadoLibre by 112,333.8% in the 4th quarter. International Assets Investment Management LLC now owns 146,164 shares of the company’s stock worth $229,703,000 after purchasing an additional 146,034 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in shares of MercadoLibre by 1,432.2% in 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 purchasing an additional 119,043 shares during the period. Hedge funds and other institutional investors 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.