Citigroup Lowers MercadoLibre (NASDAQ:MELI) Price Target to $1,500.00

MercadoLibre (NASDAQ:MELIGet Rating) had its price target lowered by analysts at Citigroup from $1,750.00 to $1,500.00 in a report issued on Tuesday, April 12th, The Fly reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s target price would suggest a potential upside of 46.60% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. TheStreet downgraded MercadoLibre from a “c” rating to a “d+” rating in a report on Wednesday, February 23rd. Credit Suisse Group raised their price objective on MercadoLibre from $1,675.00 to $1,685.00 in a report on Wednesday, February 23rd. BTIG Research cut their price objective on MercadoLibre from $1,930.00 to $1,550.00 in a report on Tuesday, January 18th. Susquehanna Bancshares cut their price objective on MercadoLibre from $1,990.00 to $1,750.00 and set a “positive” rating on the stock in a report on Wednesday, February 23rd. Finally, Susquehanna cut their price objective on MercadoLibre from $1,990.00 to $1,750.00 and set a “positive” rating on the stock in a report on Wednesday, February 23rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $1,670.50.

MercadoLibre stock traded up $26.57 during mid-day trading on Tuesday, reaching $1,023.21. 539,867 shares of the company were exchanged, compared to its average volume of 652,116. The company has a fifty day simple moving average of $1,094.87 and a 200-day simple moving average of $1,197.53. MercadoLibre has a 12 month low of $858.99 and a 12 month high of $1,970.13. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.40 and a quick ratio of 1.36. The firm has a market cap of $51.55 billion, a PE ratio of 556.98 and a beta of 1.56.

MercadoLibre (NASDAQ:MELIGet Rating) last issued its quarterly earnings results on Tuesday, February 22nd. The company reported ($0.92) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.89 by ($1.81). MercadoLibre had a net margin of 1.18% and a return on equity of 31.09%. The business had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.02 billion. During the same quarter in the previous year, the business posted ($1.02) EPS. The company’s revenue for the quarter was up 60.5% on a year-over-year basis. Sell-side analysts anticipate that MercadoLibre will post 8.46 earnings per share for the current year.

In other news, Director Emiliano Calemzuk sold 75 shares of the business’s stock in a transaction that occurred on Monday, March 7th. The stock was sold at an average price of $1,008.61, for a total value of $75,645.75. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP La Serna Juan Martin De bought 50 shares of the business’s stock in a transaction dated Friday, March 11th. The stock was acquired at an average price of $931.00 per share, for a total transaction of $46,550.00. The disclosure for this purchase can be found here. Insiders have acquired a total of 205 shares of company stock valued at $188,950 over the last three months. Corporate insiders own 0.39% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. Harbor Investment Advisory LLC lifted its stake in MercadoLibre by 10.6% in the fourth quarter. Harbor Investment Advisory LLC now owns 261 shares of the company’s stock valued at $352,000 after purchasing an additional 25 shares during the last quarter. ProShare Advisors LLC lifted its position in shares of MercadoLibre by 53.1% during the fourth quarter. ProShare Advisors LLC now owns 92,787 shares of the company’s stock worth $125,114,000 after acquiring an additional 32,165 shares in the last quarter. Maplelane Capital LLC purchased a new stake in shares of MercadoLibre during the third quarter worth $8,733,000. Acorn Financial Advisory Services Inc. ADV lifted its position in shares of MercadoLibre by 6.9% during the fourth quarter. Acorn Financial Advisory Services Inc. ADV now owns 339 shares of the company’s stock worth $457,000 after acquiring an additional 22 shares in the last quarter. Finally, Asset Management One Co. Ltd. lifted its position in shares of MercadoLibre by 1.3% during the third quarter. Asset Management One Co. Ltd. now owns 33,776 shares of the company’s stock worth $56,723,000 after acquiring an additional 442 shares in the last quarter. Institutional investors and hedge funds own 79.61% of the company’s stock.

MercadoLibre Company Profile (Get Rating)

MercadoLibre, Inc operates online commerce platforms in Latin America. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases online; and Mercado Pago FinTech, 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.

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