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

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

Several other research analysts have also recently issued reports on MELI. DZ Bank raised MercadoLibre from a hold rating to a buy rating and set a $1,685.00 price objective for the company in a research report on Tuesday. StockNews.com cut MercadoLibre from a buy rating to a hold rating in a research report on Thursday, February 29th. JPMorgan Chase & Co. upped their target price on MercadoLibre from $2,000.00 to $2,150.00 and gave the company an overweight rating in a research report on Tuesday, February 27th. Citigroup decreased their target price on MercadoLibre from $1,990.00 to $1,940.00 and set a buy rating for the company in a research report on Wednesday, March 27th. Finally, UBS Group decreased their target price on MercadoLibre from $1,900.00 to $1,800.00 and set a buy rating for the company in a research report on Wednesday, April 17th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $1,790.36.

MercadoLibre Price Performance

Shares of NASDAQ MELI opened at $1,370.00 on Wednesday. The stock’s 50-day moving average is $1,538.78 and its two-hundred day moving average is $1,528.66. The company has a market cap of $69.46 billion, a price-to-earnings ratio of 70.11, a price-to-earnings-growth ratio of 0.90 and a beta of 1.44. MercadoLibre has a 1-year low of $1,063.02 and a 1-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 released its quarterly earnings data on Thursday, February 22nd. The company reported $3.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.66 by ($3.41). The business had revenue of $4.26 billion for the quarter, compared to analyst estimates of $4.14 billion. MercadoLibre had a return on equity of 39.07% and a net margin of 6.82%. The company’s revenue was up 42.0% compared to the same quarter last year. During the same period in the prior year, the company posted $3.25 earnings per share. Analysts forecast that MercadoLibre will post 35.77 EPS for the current fiscal year.

Institutional Trading of MercadoLibre

A number of hedge funds have recently added to or reduced their stakes in the stock. Cambridge Investment Research Advisors Inc. lifted its position in MercadoLibre by 28.4% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 3,627 shares of the company’s stock worth $5,484,000 after acquiring an additional 802 shares during the period. Heirloom Wealth Management raised its stake in shares of MercadoLibre by 0.4% during the 1st quarter. Heirloom Wealth Management now owns 3,343 shares of the company’s stock worth $5,054,000 after buying an additional 13 shares in the last quarter. Zhang Financial LLC raised its stake in shares of MercadoLibre by 109.0% during the 1st quarter. Zhang Financial LLC now owns 694 shares of the company’s stock worth $1,049,000 after buying an additional 362 shares in the last quarter. Activest Wealth Management raised its stake in shares of MercadoLibre by 227.3% during the 1st quarter. Activest Wealth Management now owns 36 shares of the company’s stock worth $55,000 after buying an additional 25 shares in the last quarter. Finally, Premier Path Wealth Partners LLC raised its stake in shares of MercadoLibre by 10.5% during the 1st quarter. Premier Path Wealth Partners LLC now owns 221 shares of the company’s stock worth $337,000 after buying an additional 21 shares in the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

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.