MercadoLibre (NASDAQ:MELI) Price Target Lowered to $1,800.00 at Wedbush

MercadoLibre (NASDAQ:MELI) had its price objective decreased by research analysts at Wedbush from $2,000.00 to $1,800.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Wedbush’s target price would suggest a potential upside of 29.03% from the stock’s previous close.

A number of other equities research analysts have also issued reports on MELI. JPMorgan Chase & Co. upped their target price on shares of MercadoLibre from $2,000.00 to $2,150.00 and gave the stock an “overweight” rating in a report on Tuesday, February 27th. Barclays dropped their target price on shares of MercadoLibre from $2,000.00 to $1,800.00 and set an “overweight” rating for the company in a report on Wednesday, April 3rd. Susquehanna upped their target price on shares of MercadoLibre from $1,850.00 to $2,000.00 and gave the stock a “positive” rating in a report on Friday, February 23rd. DZ Bank raised shares of MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 target price for the company in a report on Tuesday. Finally, StockNews.com lowered shares of MercadoLibre from a “buy” rating to a “hold” rating in a report on Thursday, February 29th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, MercadoLibre currently has an average rating of “Moderate Buy” and a consensus price target of $1,790.36.

MercadoLibre Price Performance

Shares of NASDAQ MELI opened at $1,395.00 on Wednesday. The firm has a market cap of $70.73 billion, a PE ratio of 71.39, a PEG ratio of 0.88 and a beta of 1.44. The firm has a fifty day moving average of $1,546.31 and a 200 day moving average of $1,529.78. 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 one year low of $1,063.02 and a one year high of $1,825.00.

MercadoLibre (NASDAQ:MELI) last issued its quarterly 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). The company had revenue of $4.26 billion during the quarter, compared to analysts’ expectations of $4.14 billion. MercadoLibre had a return on equity of 39.07% and a net margin of 6.82%. MercadoLibre’s revenue was up 42.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.25 EPS. As a group, research analysts predict that MercadoLibre will post 35.77 EPS for the current fiscal year.

Hedge Funds Weigh In On MercadoLibre

A number of hedge funds have recently modified their holdings of MELI. IFP Advisors Inc grew its position in shares of MercadoLibre by 19.3% during the third quarter. IFP Advisors Inc now owns 216 shares of the company’s stock worth $274,000 after acquiring an additional 35 shares during the last quarter. Impact Partnership Wealth LLC lifted its holdings in shares of MercadoLibre by 118.8% during the third quarter. Impact Partnership Wealth LLC now owns 35 shares of the company’s stock worth $44,000 after purchasing an additional 19 shares during the period. Cedar Brook Financial Partners LLC lifted its holdings in shares of MercadoLibre by 33.1% during the third quarter. Cedar Brook Financial Partners LLC now owns 225 shares of the company’s stock worth $285,000 after purchasing an additional 56 shares during the period. Exchange Traded Concepts LLC lifted its holdings in shares of MercadoLibre by 19.9% during the third quarter. Exchange Traded Concepts LLC now owns 2,912 shares of the company’s stock worth $3,692,000 after purchasing an additional 484 shares during the period. Finally, Spectrum Asset Management Inc. NB CA acquired a new stake in shares of MercadoLibre during the third quarter worth $293,000. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

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.