MercadoLibre (NASDAQ:MELI) Stock Gets Price Target Cut from Cantor Fitzgerald

MercadoLibre (NASDAQ:MELI) had its price objective trimmed by Cantor Fitzgerald from $2,300.00 to $2,200.00 in a report issued on Monday morning, Marketbeat Ratings reports. The firm currently has an overweight rating on the stock.

MELI has been the topic of several other research reports. Zacks Research raised shares of MercadoLibre from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Citigroup upped their price target on shares of MercadoLibre from $1,950.00 to $2,000.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 15th. JPMorgan Chase & Co. increased their price objective on shares of MercadoLibre from $1,900.00 to $2,150.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 11th. BTIG Research restated a “buy” rating and set a $2,150.00 price objective on shares of MercadoLibre in a research report on Thursday, September 3rd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of MercadoLibre in a research report on Tuesday, September 29th. Twelve analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $2,251.88.

MercadoLibre Stock Down 2.0%

NASDAQ MELI opened at $1,839.11 on Monday. MercadoLibre has a 52 week low of $1,495.00 and a 52 week high of $2,428.00. The company has a quick ratio of 1.10, a current ratio of 1.12 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $93.24 billion, a P/E ratio of 51.02, a price-to-earnings-growth ratio of 1.32 and a beta of 1.31. The stock’s 50-day moving average price is $1,862.34 and its 200-day moving average price is $1,781.58.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Thursday, August 6th. The company reported $9.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.65 by $0.54. The company had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.79 billion. MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%. The firm’s revenue was up 49.8% on a year-over-year basis. During the same period in the previous year, the company posted $10.31 EPS. On average, equities research analysts predict that MercadoLibre will post 38.13 earnings per share for the current year.

Hedge Funds Weigh In On MercadoLibre

A number of hedge funds have recently made changes to their positions in MELI. BlackRock Inc. purchased a new stake in MercadoLibre in the 2nd quarter worth $2,246,015,000. Janus Henderson Group PLC boosted its holdings in shares of MercadoLibre by 26.4% during the 4th quarter. Janus Henderson Group PLC now owns 604,096 shares of the company’s stock valued at $1,216,807,000 after purchasing an additional 126,294 shares during the last quarter. Linonia Partnership LP grew its position in shares of MercadoLibre by 325.1% during the second quarter. Linonia Partnership LP now owns 553,788 shares of the company’s stock valued at $939,994,000 after purchasing an additional 423,527 shares in the last quarter. Jupiter Topco LLC purchased a new position in shares of MercadoLibre during the second quarter valued at about $917,123,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of MercadoLibre by 7.9% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 533,816 shares of the company’s stock valued at $906,094,000 after purchasing an additional 38,871 shares in the last quarter. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Company Profile

MercadoLibre, Inc (NASDAQ:MELI) operates a technology platform serving commerce and financial-services customers across Latin America. Its online marketplace connects buyers and sellers, offering products across categories including electronics, apparel, home goods, automotive products and consumer packaged goods.

The company also provides a range of supporting services, including Mercado Pago, a digital payments platform that enables online and in-person transactions, money transfers and other financial services.