MercadoLibre (NASDAQ:MELI) Given New $2,600.00 Price Target at Morgan Stanley

MercadoLibre (NASDAQ:MELI) had its price objective trimmed by Morgan Stanley from $2,800.00 to $2,600.00 in a report released on Monday morning, MarketBeat.com reports. The brokerage currently has an overweight rating on the stock.

Several other equities research analysts have also recently commented on the company. BTIG Research dropped their target price on MercadoLibre from $2,750.00 to $2,650.00 and set a “buy” rating on the stock in a report on Wednesday, February 25th. Zacks Research raised MercadoLibre from a “strong sell” rating to a “hold” rating in a research note on Friday, February 6th. Weiss Ratings cut MercadoLibre from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, January 8th. Wedbush dropped their price objective on MercadoLibre from $2,600.00 to $2,400.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 25th. Finally, Cantor Fitzgerald cut their price objective on MercadoLibre from $2,750.00 to $2,400.00 and set an “overweight” rating for the company in a report on Wednesday, February 25th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $2,762.00.

MercadoLibre Stock Down 1.0%

MercadoLibre stock opened at $1,769.52 on Monday. MercadoLibre has a 52 week low of $1,654.24 and a 52 week high of $2,645.22. The stock has a market cap of $89.71 billion, a price-to-earnings ratio of 44.91, a PEG ratio of 0.90 and a beta of 1.48. The company’s 50-day moving average price is $2,019.51 and its two-hundred day moving average price is $2,135.12. The company has a current ratio of 1.17, a quick ratio of 1.15 and a debt-to-equity ratio of 0.68.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results on Tuesday, February 24th. The company reported $11.03 earnings per share for the quarter, missing analysts’ consensus estimates of $11.66 by ($0.63). The company had revenue of $8.76 billion during the quarter, compared to analyst estimates of $8.45 billion. MercadoLibre had a return on equity of 33.73% and a net margin of 6.91%.The company’s revenue was up 44.6% on a year-over-year basis. During the same period in the prior year, the company posted $12.61 earnings per share. On average, analysts expect that MercadoLibre will post 43.96 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Emiliano Calemzuk sold 45 shares of MercadoLibre stock in a transaction 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 transaction, the director directly owned 257 shares in the company, valued at $521,034.09. The trade was a 14.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Henrique Vasoncelos Dubugras sold 845 shares of the business’s stock in a transaction on Friday, December 12th. The stock was sold at an average price of $2,028.14, for a total value of $1,713,778.30. The SEC filing for this sale provides additional information. 0.25% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On MercadoLibre

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Laurel Wealth Advisors LLC acquired a new stake in MercadoLibre during the 4th quarter worth about $26,000. Transamerica Financial Advisors LLC acquired a new position in shares of MercadoLibre in the fourth quarter worth about $26,000. Darwin Wealth Management LLC purchased a new position in shares of MercadoLibre in the second quarter worth approximately $29,000. Curio Wealth LLC purchased a new position in shares of MercadoLibre in the fourth quarter worth approximately $30,000. Finally, Holos Integrated Wealth LLC acquired a new stake in shares of MercadoLibre during the fourth quarter valued at approximately $32,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

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.