Barclays Lowers MercadoLibre (NASDAQ:MELI) Price Target to $1,800.00

MercadoLibre (NASDAQ:MELIFree Report) had its price target reduced by Barclays from $2,000.00 to $1,800.00 in a research note released on Wednesday, Benzinga reports. They currently have an overweight rating on the stock.

Other analysts also recently issued reports about the company. JPMorgan Chase & Co. lifted their price target on MercadoLibre from $2,000.00 to $2,150.00 and gave the stock an overweight rating in a report on Tuesday, February 27th. Citigroup reduced their target price on MercadoLibre from $1,990.00 to $1,940.00 and set a buy rating for the company in a report on Wednesday, March 27th. Wedbush reissued an outperform rating and issued a $2,000.00 target price on shares of MercadoLibre in a report on Tuesday, March 5th. Susquehanna boosted their target price on MercadoLibre from $1,850.00 to $2,000.00 and gave the company a positive rating in a report on Friday, February 23rd. Finally, StockNews.com downgraded MercadoLibre from a buy rating to a hold rating in a report on Thursday, February 29th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $1,806.15.

View Our Latest Stock Analysis on MELI

MercadoLibre Stock Down 0.5 %

Shares of NASDAQ MELI opened at $1,504.98 on Wednesday. The company has a market capitalization of $76.30 billion, a price-to-earnings ratio of 77.02, a price-to-earnings-growth ratio of 1.00 and a beta of 1.44. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.27 and a quick ratio of 1.24. The business has a 50-day moving average of $1,637.26 and a two-hundred day moving average of $1,512.47. MercadoLibre has a 1 year low of $1,063.02 and a 1 year high of $1,825.00.

MercadoLibre (NASDAQ:MELIGet Free Report) last announced its quarterly earnings results on Thursday, February 22nd. The company reported $3.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 return on equity of 39.07% and a net margin of 6.82%. The firm’s quarterly revenue was up 42.0% on a year-over-year basis. During the same period last year, the firm earned $3.25 earnings per share. On average, analysts forecast that MercadoLibre will post 36.06 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MercadoLibre

Several hedge funds have recently made changes to their positions in the business. Timber Creek Capital Management LLC boosted its holdings in shares of MercadoLibre by 1.7% during the first quarter. Timber Creek Capital Management LLC now owns 2,771 shares of the company’s stock worth $4,190,000 after purchasing an additional 47 shares during the last quarter. Confluence Investment Management LLC acquired a new stake in shares of MercadoLibre during the first quarter worth $346,000. HighPoint Advisor Group LLC acquired a new stake in shares of MercadoLibre during the fourth quarter worth $595,000. Quadrature Capital Ltd acquired a new position in MercadoLibre in the fourth quarter valued at $36,777,000. Finally, PNC Financial Services Group Inc. boosted its holdings in MercadoLibre by 21.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 7,937 shares of the company’s stock valued at $12,473,000 after acquiring an additional 1,418 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

About MercadoLibre

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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.

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