MercadoLibre (NASDAQ:MELI) Price Target Cut to $1,800.00 by Analysts at UBS Group

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

Several other equities research analysts have also issued reports on the company. Barclays decreased their target price on MercadoLibre from $2,000.00 to $1,800.00 and set an overweight rating for the company in a research report on Wednesday, April 3rd. Wedbush reiterated an outperform rating and set a $2,000.00 price objective on shares of MercadoLibre in a research note on Tuesday, March 5th. JPMorgan Chase & Co. raised their price objective on shares of MercadoLibre from $2,000.00 to $2,150.00 and gave the company an overweight rating in a research report on Tuesday, February 27th. Susquehanna lifted their price objective on 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, StockNews.com lowered MercadoLibre from a buy rating to a hold rating in a research note on Thursday, February 29th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $1,813.85.

MercadoLibre Stock Down 0.0 %

Shares of NASDAQ:MELI opened at $1,397.86 on Wednesday. The stock has a market cap of $70.87 billion, a price-to-earnings ratio of 71.54, a PEG ratio of 0.90 and a beta of 1.44. The business’s 50 day moving average is $1,574.80 and its 200 day moving average is $1,523.84. MercadoLibre has a 12-month low of $1,063.02 and a 12-month high of $1,825.00. The company has a quick ratio of 1.24, a current ratio of 1.27 and a debt-to-equity ratio of 0.72.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Thursday, February 22nd. The company reported $3.25 EPS for the quarter, missing the consensus estimate of $6.66 by ($3.41). MercadoLibre had a net margin of 6.82% and a return on equity of 39.07%. The firm had revenue of $4.26 billion during the quarter, compared to analysts’ expectations of $4.14 billion. During the same quarter in the prior year, the company earned $3.25 EPS. The business’s revenue for the quarter was up 42.0% on a year-over-year basis. On average, sell-side analysts forecast that MercadoLibre will post 35.77 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in MELI. WCM Investment Management LLC boosted its stake in MercadoLibre by 74.8% during the fourth 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 in the last quarter. Norges Bank purchased a new position in MercadoLibre in the fourth quarter worth about $554,386,000. Morgan Stanley increased its holdings in MercadoLibre by 10.2% during the third quarter. Morgan Stanley now owns 2,558,467 shares of the company’s stock valued at $3,243,832,000 after buying an additional 236,744 shares during the last quarter. International Assets Investment Management LLC increased its holdings in 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 acquiring an additional 146,034 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in MercadoLibre by 1,432.2% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 127,355 shares of the company’s stock valued at $200,140,000 after acquiring an additional 119,043 shares during the period. Hedge funds and other 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.