UBS Group Issues Pessimistic Forecast for MercadoLibre (NASDAQ:MELI) Stock Price

MercadoLibre (NASDAQ:MELI) had its price target reduced by analysts at UBS Group from $3,000.00 to $2,900.00 in a report released on Monday,MarketScreener reports. The brokerage presently has a “buy” rating on the stock. UBS Group’s price target indicates a potential upside of 48.51% from the company’s previous close.

A number of other analysts have also recently commented on MELI. JPMorgan Chase & Co. upped their price target on shares of MercadoLibre from $2,600.00 to $2,650.00 and gave the company a “neutral” rating in a research note on Monday, November 3rd. Citigroup dropped their price objective on MercadoLibre from $2,850.00 to $2,700.00 and set a “buy” rating on the stock in a report on Thursday, October 9th. BTIG Research reaffirmed a “buy” rating and set a $2,750.00 target price on shares of MercadoLibre in a report on Friday, November 14th. Susquehanna lowered their price target on shares of MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating on the stock in a report on Monday, October 13th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $2,800.00 target price on shares of MercadoLibre in a report on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $2,848.82.

MercadoLibre Trading Up 0.0%

Shares of MercadoLibre stock opened at $1,952.72 on Monday. The company has a market capitalization of $99.00 billion, a P/E ratio of 47.65, a price-to-earnings-growth ratio of 1.56 and a beta of 1.51. The stock has a fifty day simple moving average of $2,222.62 and a 200 day simple moving average of $2,364.08. MercadoLibre has a 12-month low of $1,646.00 and a 12-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 posted its earnings results on Wednesday, October 29th. The company reported $8.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.88 by ($1.56). The firm had revenue of $7.41 billion during the quarter, compared to the consensus estimate of $7.19 billion. MercadoLibre had a return on equity of 41.35% and a net margin of 7.93%.The business’s revenue was up 39.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $7.83 EPS. On average, sell-side analysts anticipate that MercadoLibre will post 43.96 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MercadoLibre

Several hedge funds and other institutional investors have recently bought and sold shares of MELI. Bison Wealth LLC bought a new position in shares of MercadoLibre in the 4th quarter worth approximately $206,000. Private Advisor Group LLC grew its position in shares of MercadoLibre by 9.7% during the 1st quarter. Private Advisor Group LLC now owns 552 shares of the company’s stock valued at $1,077,000 after acquiring an additional 49 shares during the period. AE Wealth Management LLC increased its stake in shares of MercadoLibre by 14.4% in the 1st quarter. AE Wealth Management LLC now owns 207 shares of the company’s stock worth $404,000 after purchasing an additional 26 shares in the last quarter. Avantax Advisory Services Inc. raised its holdings in MercadoLibre by 7.8% in the 1st quarter. Avantax Advisory Services Inc. now owns 2,154 shares of the company’s stock worth $4,201,000 after purchasing an additional 155 shares during the period. Finally, Cetera Investment Advisers lifted its position in MercadoLibre by 12.0% during the first quarter. Cetera Investment Advisers now owns 6,134 shares of the company’s stock valued at $11,966,000 after purchasing an additional 658 shares in the last quarter. 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.