MercadoLibre (NASDAQ:MELI) Given New $2,750.00 Price Target at Cantor Fitzgerald

MercadoLibre (NASDAQ:MELI) had its price objective decreased by Cantor Fitzgerald from $2,900.00 to $2,750.00 in a research note released on Thursday morning, MarketBeat reports. Cantor Fitzgerald currently has an overweight rating on the stock.

Several other research analysts have also weighed in on MELI. Wedbush set a $2,700.00 price objective on shares of MercadoLibre and gave the stock an “outperform” rating in a report on Tuesday, August 5th. Weiss Ratings reissued a “buy (b)” rating on shares of MercadoLibre in a report on Wednesday, October 8th. Scotiabank started coverage on shares of MercadoLibre in a report on Monday, July 28th. They set a “sector outperform” rating and a $3,500.00 price objective for the company. Barclays decreased their price objective on shares of MercadoLibre from $3,000.00 to $2,800.00 and set an “overweight” rating for the company in a report on Tuesday, October 21st. Finally, Jefferies Financial Group reissued a “hold” rating and set a $2,800.00 price objective on shares of MercadoLibre in a report on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $2,790.59.

MercadoLibre Price Performance

MELI opened at $2,360.76 on Thursday. The company has a fifty day simple moving average of $2,312.61 and a 200 day simple moving average of $2,368.72. The firm has a market cap of $119.69 billion, a price-to-earnings ratio of 57.61, a PEG ratio of 1.56 and a beta of 1.46. MercadoLibre has a twelve month low of $1,646.00 and a twelve month high of $2,645.22. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.61.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Wednesday, October 29th. The company reported $8.32 EPS for the quarter, missing the consensus estimate of $9.88 by ($1.56). The business had revenue of $7.41 billion for the quarter, compared to analysts’ expectations of $7.19 billion. MercadoLibre had a net margin of 7.93% and a return on equity of 41.35%. The business’s quarterly revenue was up 39.5% compared to the same quarter last year. During the same quarter last year, the company posted $7.83 earnings per share. Equities research analysts expect that MercadoLibre will post 43.96 EPS for the current fiscal year.

Institutional Investors Weigh In On MercadoLibre

Several large investors have recently added to or reduced their stakes in the stock. Key Financial Inc bought a new stake in MercadoLibre in the 1st quarter valued at about $25,000. GW&K Investment Management LLC bought a new stake in MercadoLibre in the 1st quarter valued at about $25,000. Close Asset Management Ltd lifted its position in MercadoLibre by 366.7% in the 1st quarter. Close Asset Management Ltd now owns 14 shares of the company’s stock valued at $27,000 after purchasing an additional 11 shares during the last quarter. Brooklyn Investment Group lifted its position in MercadoLibre by 650.0% in the 1st quarter. Brooklyn Investment Group now owns 15 shares of the company’s stock valued at $29,000 after purchasing an additional 13 shares during the last quarter. Finally, Twin Tree Management LP bought a new stake in MercadoLibre in the 1st quarter valued at about $29,000. 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.