MercadoLibre (NASDAQ:MELI) Given New $2,350.00 Price Target at Cantor Fitzgerald

MercadoLibre (NASDAQ:MELI) had its price target cut by Cantor Fitzgerald from $2,400.00 to $2,350.00 in a research report released on Tuesday, MarketBeat Ratings reports. They currently have an overweight rating on the stock.

Several other research analysts have also issued reports on the stock. BTIG Research reiterated a “buy” rating and issued a $2,400.00 target price on shares of MercadoLibre in a research report on Friday, April 10th. Zacks Research upgraded MercadoLibre from a “strong sell” rating to a “hold” rating in a research report on Friday, February 6th. Morgan Stanley dropped their price target on MercadoLibre from $2,800.00 to $2,600.00 and set an “overweight” rating for the company in a research note on Monday, March 9th. Weiss Ratings cut MercadoLibre from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, January 8th. Finally, Wedbush reduced their price objective on MercadoLibre from $2,600.00 to $2,400.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 25th. One research 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 stock. According to data from MarketBeat.com, MercadoLibre has an average rating of “Moderate Buy” and a consensus target price of $2,685.33.

MercadoLibre Stock Down 0.9%

MELI stock opened at $1,854.18 on Tuesday. The company’s 50 day moving average is $1,786.63 and its 200 day moving average is $1,989.55. The stock has a market cap of $94.00 billion, a price-to-earnings ratio of 47.06, a price-to-earnings-growth ratio of 0.88 and a beta of 1.49. 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 has a 1-year low of $1,593.21 and a 1-year high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Saturday, February 14th. The company reported $11.03 earnings per share (EPS) for the quarter. The business had revenue of $8.76 billion during the quarter. MercadoLibre had a net margin of 6.91% and a return on equity of 33.73%. Sell-side analysts predict that MercadoLibre will post 51.5 EPS for the current fiscal year.

Institutional Trading of MercadoLibre

Several hedge funds have recently added to or reduced their stakes in the business. Darwin Wealth Management LLC purchased a new position in shares of MercadoLibre in the second quarter worth about $29,000. Laurel Wealth Advisors LLC purchased a new stake in MercadoLibre during the 4th quarter valued at about $26,000. Transamerica Financial Advisors LLC purchased a new stake in MercadoLibre during the 4th quarter valued at about $26,000. Purpose Unlimited Inc. bought a new position in MercadoLibre during the 4th quarter worth approximately $28,000. Finally, Steigerwald Gordon & Koch Inc. bought a new position in MercadoLibre during the 3rd quarter worth approximately $35,000. 87.62% of the stock is owned by institutional investors.

About MercadoLibre

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.