MercadoLibre (NASDAQ:MELI) Given New $1,800.00 Price Target at UBS Group

MercadoLibre (NASDAQ:MELI) had its price objective decreased by analysts at UBS Group from $1,900.00 to $1,800.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. UBS Group’s target price indicates a potential upside of 31.36% from the stock’s previous close.

A number of other equities analysts have also weighed in on MELI. Susquehanna boosted their price objective on shares of MercadoLibre from $1,850.00 to $2,000.00 and gave the company a “positive” rating in a research report on Friday, February 23rd. JPMorgan Chase & Co. boosted their price objective on shares of MercadoLibre from $2,000.00 to $2,150.00 and gave the company an “overweight” rating in a research report on Tuesday, February 27th. Barclays lowered 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. Citigroup lowered their target price on shares of MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating for the company in a report on Wednesday, March 27th. Finally, Wedbush restated an “outperform” rating and issued a $2,000.00 target price on shares of MercadoLibre in a report on Tuesday, March 5th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, MercadoLibre has a consensus rating of “Moderate Buy” and a consensus target price of $1,813.85.

MercadoLibre Stock Performance

NASDAQ:MELI opened at $1,370.25 on Wednesday. The firm has a 50 day simple moving average of $1,567.55 and a 200-day simple moving average of $1,522.78. 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 firm has a market cap of $69.47 billion, a PE ratio of 70.13, a P/E/G ratio of 0.90 and a beta of 1.44. MercadoLibre has a 1-year low of $1,063.02 and a 1-year high of $1,825.00.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Thursday, February 22nd. The company reported $3.25 earnings per share for the quarter, missing analysts’ consensus estimates of $6.66 by ($3.41). The firm had revenue of $4.26 billion during the quarter, compared to analyst estimates of $4.14 billion. MercadoLibre had a net margin of 6.82% and a return on equity of 39.07%. The business’s quarterly revenue was up 42.0% on a year-over-year basis. During the same period in the prior year, the firm earned $3.25 EPS. On average, equities analysts expect that MercadoLibre will post 35.77 EPS for the current year.

Institutional Investors Weigh In On MercadoLibre

Several institutional investors have recently bought and sold shares of the business. Morgan Stanley grew its stake in MercadoLibre by 10.2% during the third quarter. Morgan Stanley now owns 2,558,467 shares of the company’s stock worth $3,243,832,000 after buying an additional 236,744 shares during the period. Jennison Associates LLC grew its stake in MercadoLibre by 1.3% during the third quarter. Jennison Associates LLC now owns 2,233,430 shares of the company’s stock worth $2,831,721,000 after buying an additional 28,095 shares during the period. WCM Investment Management LLC grew its stake in MercadoLibre by 74.8% during the fourth quarter. WCM Investment Management LLC now owns 1,162,724 shares of the company’s stock worth $1,838,964,000 after buying an additional 497,535 shares during the period. Capital International Investors lifted its position in shares of MercadoLibre by 0.4% during the fourth quarter. Capital International Investors now owns 1,037,070 shares of the company’s stock worth $1,630,740,000 after purchasing an additional 4,317 shares in the last quarter. Finally, Capital World Investors lifted its position in shares of MercadoLibre by 13.3% during the fourth quarter. Capital World Investors now owns 750,720 shares of the company’s stock worth $1,179,787,000 after purchasing an additional 88,359 shares in the last quarter. 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.