MercadoLibre (NASDAQ:MELI) PT Lowered to $1,940.00

MercadoLibre (NASDAQ:MELI) had its price target reduced by research analysts at Citigroup from $1,990.00 to $1,940.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s price target points to a potential upside of 28.02% from the company’s previous close.

Several other equities analysts also recently commented on MELI. Barclays upped their price target on shares of MercadoLibre from $1,900.00 to $2,000.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. StockNews.com lowered shares of MercadoLibre from a “buy” rating to a “hold” rating in a research report on Thursday, February 29th. JPMorgan Chase & Co. raised their price target on shares of MercadoLibre from $2,000.00 to $2,150.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 27th. Susquehanna raised their price target on shares of MercadoLibre from $1,850.00 to $2,000.00 and gave the stock a “positive” rating in a research note on Friday, February 23rd. Finally, Wedbush reissued an “outperform” rating and issued a $2,000.00 price target on shares of MercadoLibre in a research note on Tuesday, March 5th. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,817.86.

MercadoLibre Stock Performance

Shares of MELI stock traded down $22.05 during mid-day trading on Wednesday, reaching $1,515.41. 167,211 shares of the company’s stock traded hands, compared to its average volume of 399,437. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.27. MercadoLibre has a 12 month low of $1,063.02 and a 12 month high of $1,825.00. The firm has a 50 day moving average price of $1,658.99 and a two-hundred day moving average price of $1,507.56. The firm has a market capitalization of $76.83 billion, a PE ratio of 77.44, a price-to-earnings-growth ratio of 1.01 and a beta of 1.45.

MercadoLibre (NASDAQ:MELI) last announced its earnings results 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 analysts’ expectations of $4.14 billion. MercadoLibre had a net margin of 6.82% and a return on equity of 39.07%. The firm’s quarterly revenue was up 42.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.25 earnings per share. On average, research analysts forecast that MercadoLibre will post 36.06 EPS for the current year.

Institutional Trading of MercadoLibre

Institutional investors and hedge funds have recently bought and sold shares of the stock. BOKF NA raised its stake in shares of MercadoLibre by 325.0% in the fourth quarter. BOKF NA now owns 17 shares of the company’s stock valued at $27,000 after purchasing an additional 13 shares in the last quarter. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of MercadoLibre in the fourth quarter valued at $28,000. Salem Investment Counselors Inc. increased its stake in shares of MercadoLibre by 500.0% in the third quarter. Salem Investment Counselors Inc. now owns 24 shares of the company’s stock valued at $30,000 after buying an additional 20 shares in the last quarter. Archer Investment Corp acquired a new stake in shares of MercadoLibre in the fourth quarter valued at $31,000. Finally, Proffitt & Goodson Inc. acquired a new stake in shares of MercadoLibre in the third quarter valued at $32,000. Institutional investors and hedge funds 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.