MercadoLibre (NASDAQ:MELI) Price Target Cut to $2,900.00 by Analysts at UBS Group

MercadoLibre (NASDAQ:MELI) had its price objective lowered by UBS Group from $3,000.00 to $2,900.00 in a report released on Monday morning, MarketBeat.com reports. The brokerage currently has a buy rating on the stock.

Other equities analysts have also recently issued research reports about the company. Morgan Stanley boosted their price target on MercadoLibre from $2,850.00 to $2,950.00 and gave the company an “overweight” rating in a research report on Monday, November 3rd. Scotiabank initiated coverage on shares of MercadoLibre in a research report on Monday, July 28th. They issued a “sector outperform” rating and a $3,500.00 price objective on the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of MercadoLibre in a research note on Friday, October 31st. Citigroup reduced their target price on shares of MercadoLibre from $2,850.00 to $2,700.00 and set a “buy” rating for the company in a research note on Thursday, October 9th. Finally, Susquehanna lowered their target price 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. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $2,848.82.

MercadoLibre Stock Up 2.9%

MELI stock opened at $2,008.92 on Monday. The company has a fifty day moving average price of $2,216.08 and a 200 day moving average price of $2,361.23. MercadoLibre has a 12 month low of $1,646.00 and a 12 month high of $2,645.22. The company has a market cap of $101.85 billion, a price-to-earnings ratio of 49.02, a price-to-earnings-growth ratio of 1.56 and a beta of 1.51. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.20 and a quick ratio of 1.18.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data 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 business had revenue of $7.41 billion for the quarter, compared to analysts’ expectations of $7.19 billion. MercadoLibre had a return on equity of 41.35% and a net margin of 7.93%.The company’s revenue for the quarter was up 39.5% on a year-over-year basis. During the same period in the previous year, the business posted $7.83 earnings per share. Sell-side analysts expect that MercadoLibre will post 43.96 earnings per share for the current year.

Institutional Investors Weigh In On MercadoLibre

Several institutional investors and hedge funds have recently made changes to their positions in MELI. Optimize Financial Inc lifted its position in shares of MercadoLibre by 1.7% in the first quarter. Optimize Financial Inc now owns 238 shares of the company’s stock worth $464,000 after purchasing an additional 4 shares in the last quarter. Range Financial Group LLC lifted its position in MercadoLibre by 2.7% in the 2nd quarter. Range Financial Group LLC now owns 188 shares of the company’s stock worth $491,000 after buying an additional 5 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. boosted its stake in shares of MercadoLibre by 26.3% during the 2nd quarter. E Fund Management Hong Kong Co. Ltd. now owns 24 shares of the company’s stock valued at $63,000 after buying an additional 5 shares during the period. Quadcap Wealth Management LLC grew its holdings in shares of MercadoLibre by 4.2% during the 2nd quarter. Quadcap Wealth Management LLC now owns 124 shares of the company’s stock valued at $324,000 after acquiring an additional 5 shares in the last quarter. Finally, PFW Advisors LLC grew its holdings in shares of MercadoLibre by 4.8% during the 3rd quarter. PFW Advisors LLC now owns 110 shares of the company’s stock valued at $257,000 after acquiring an additional 5 shares in the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

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.