MercadoLibre (NASDAQ:MELI) Price Target Lowered to $2,700.00 at Wedbush

MercadoLibre (NASDAQ:MELI) had its price objective decreased by Wedbush from $2,800.00 to $2,700.00 in a research report sent to investors on Friday,Benzinga reports. Wedbush currently has an outperform rating on the stock.

A number of other research firms have also commented on MELI. Zacks Research upgraded shares of MercadoLibre from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 26th. Dbs Bank upgraded MercadoLibre from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, December 2nd. BTIG Research restated a “buy” rating and set a $2,750.00 target price on shares of MercadoLibre in a research report on Thursday, December 4th. JPMorgan Chase & Co. upped their target price on MercadoLibre from $2,600.00 to $2,650.00 and gave the stock a “neutral” rating in a research note on Monday, November 3rd. Finally, Susquehanna lowered their price target on 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, sixteen have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $2,842.94.

MercadoLibre Trading Up 1.7%

Shares of MELI opened at $1,997.61 on Friday. MercadoLibre has a twelve month low of $1,646.00 and a twelve month high of $2,645.22. The stock has a market cap of $101.28 billion, a PE ratio of 48.75, a P/E/G ratio of 1.46 and a beta of 1.42. The company has a quick ratio of 1.15, a current ratio of 1.17 and a debt-to-equity ratio of 0.55. The business’s 50-day moving average price is $2,098.11 and its 200-day moving average price is $2,295.54.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data on Wednesday, October 29th. The company reported $8.32 EPS for the quarter, missing analysts’ consensus estimates of $9.88 by ($1.56). The firm had revenue of $7.41 billion during the quarter, compared to the consensus estimate of $7.19 billion. MercadoLibre had a net margin of 7.93% and a return on equity of 39.03%. MercadoLibre’s revenue was up 39.5% compared to the same quarter last year. During the same quarter last year, the business posted $7.83 earnings per share. On average, equities analysts forecast that MercadoLibre will post 43.96 EPS for the current fiscal year.

Insider Transactions at MercadoLibre

In other MercadoLibre news, Director Stelleo Tolda sold 246 shares of the stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $2,047.88, for a total value of $503,778.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Emiliano Calemzuk sold 45 shares of MercadoLibre stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $2,027.37, for a total value of $91,231.65. Following the completion of the sale, the director owned 257 shares in the company, valued at approximately $521,034.09. This represents a 14.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 1,136 shares of company stock worth $2,308,788. Company insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On MercadoLibre

Institutional investors have recently bought and sold shares of the stock. Darwin Wealth Management LLC bought a new position in shares of MercadoLibre in the 2nd quarter worth approximately $29,000. Highline Wealth Partners LLC lifted its holdings in shares of MercadoLibre by 366.7% during the second quarter. Highline Wealth Partners LLC now owns 14 shares of the company’s stock valued at $37,000 after purchasing an additional 11 shares during the last quarter. Brooklyn Investment Group boosted its position in shares of MercadoLibre by 650.0% in the 1st quarter. Brooklyn Investment Group now owns 15 shares of the company’s stock worth $29,000 after purchasing an additional 13 shares in the last quarter. Twin Tree Management LP purchased a new stake in shares of MercadoLibre in the 1st quarter worth approximately $29,000. Finally, Curio Wealth LLC grew its stake in shares of MercadoLibre by 1,400.0% in the second quarter. Curio Wealth LLC now owns 15 shares of the company’s stock worth $39,000 after acquiring an additional 14 shares during the last quarter. 87.62% of the stock is owned by institutional investors.

MercadoLibre Company Profile

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.