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

MercadoLibre (NASDAQ:MELI) had its price objective lowered by equities researchers at Cantor Fitzgerald from $2,530.00 to $2,300.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Cantor Fitzgerald’s target price indicates a potential upside of 28.54% from the company’s previous close.

MELI has been the topic of a number of other research reports. Susquehanna raised their target price on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a research note on Wednesday, August 28th. StockNews.com lowered MercadoLibre from a “buy” rating to a “hold” rating in a research report on Saturday, August 10th. Citigroup boosted their target price on MercadoLibre from $2,200.00 to $2,480.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Dbs Bank raised MercadoLibre from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 11th. Finally, Barclays upped their price target on shares of MercadoLibre from $2,100.00 to $2,500.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Three research 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 stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $2,286.33.

MercadoLibre Stock Down 15.5 %

Shares of MELI stock traded down $327.97 during midday trading on Thursday, reaching $1,789.33. 760,372 shares of the stock were exchanged, compared to its average volume of 347,600. MercadoLibre has a 1 year low of $1,324.99 and a 1 year high of $2,161.73. The firm has a market cap of $90.72 billion, a PE ratio of 65.64, a price-to-earnings-growth ratio of 1.26 and a beta of 1.61. The company’s 50 day moving average is $2,055.08 and its two-hundred day moving average is $1,819.36. 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 (NASDAQ:MELI) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $7.83 earnings per share for the quarter, missing the consensus estimate of $11.27 by ($3.44). MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. The firm had revenue of $5.31 billion during the quarter, compared to analysts’ expectations of $5.25 billion. On average, equities research analysts predict that MercadoLibre will post 37.7 EPS for the current year.

Institutional Investors Weigh In On MercadoLibre

Large investors have recently added to or reduced their stakes in the stock. Migdal Insurance & Financial Holdings Ltd. boosted its stake in shares of MercadoLibre by 1,600.0% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock worth $28,000 after buying an additional 16 shares during the last quarter. Optimum Investment Advisors lifted its holdings in MercadoLibre by 750.0% in the third quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock valued at $35,000 after acquiring an additional 15 shares during the period. Financial Connections Group Inc. purchased a new position in MercadoLibre in the second quarter worth about $36,000. Quarry LP bought a new stake in shares of MercadoLibre during the 2nd quarter valued at about $43,000. Finally, NBC Securities Inc. increased its position in shares of MercadoLibre by 35.0% during the 3rd quarter. NBC Securities Inc. now owns 27 shares of the company’s stock valued at $55,000 after purchasing an additional 7 shares during the last quarter. Institutional investors own 87.62% of the company’s stock.

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.