BTIG Research Issues Pessimistic Forecast for MercadoLibre (NASDAQ:MELI) Stock Price

MercadoLibre (NASDAQ:MELI) had its price target dropped by analysts at BTIG Research from $2,650.00 to $2,400.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. BTIG Research’s target price indicates a potential upside of 46.72% from the company’s current price.

Several other research firms have also weighed in on MELI. Morgan Stanley cut their target price on MercadoLibre from $2,800.00 to $2,600.00 and set an “overweight” rating on the stock in a research note on Monday, March 9th. Wedbush decreased their target price on MercadoLibre from $2,600.00 to $2,400.00 and set an “outperform” rating for the company in a research report on Wednesday, February 25th. Barclays lowered their price target on MercadoLibre from $2,900.00 to $2,600.00 and set an “overweight” rating for the company in a research note on Wednesday, February 25th. Cantor Fitzgerald cut their price target on shares of MercadoLibre from $2,750.00 to $2,400.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 25th. Finally, Itau BBA Securities reissued an “outperform” rating on shares of MercadoLibre in a research note on Wednesday, February 25th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $2,708.67.

MercadoLibre Price Performance

MELI opened at $1,635.76 on Friday. The company has a fifty day moving average price of $1,948.16 and a two-hundred day moving average price of $2,091.22. The firm has a market capitalization of $82.93 billion, a PE ratio of 41.52, a P/E/G ratio of 0.80 and a beta of 1.48. MercadoLibre has a 52 week low of $1,631.18 and a 52 week high of $2,645.22. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.15 and a current ratio of 1.17.

MercadoLibre (NASDAQ:MELI) last posted 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). MercadoLibre had a net margin of 6.91% and a return on equity of 33.73%. The company had revenue of $8.76 billion during the quarter, compared to analyst estimates of $8.45 billion. During the same period last year, the company earned $12.61 EPS. The business’s revenue for the quarter was up 44.6% compared to the same quarter last year. As a group, analysts anticipate that MercadoLibre will post 43.96 earnings per share for the current year.

Institutional Investors Weigh In On MercadoLibre

Several large investors have recently modified their holdings of the business. Bison Wealth LLC bought a new position in shares of MercadoLibre during the 4th quarter valued at about $206,000. Empowered Funds LLC grew its position in shares of MercadoLibre by 6.9% in the 1st quarter. Empowered Funds LLC now owns 760 shares of the company’s stock valued at $1,483,000 after purchasing an additional 49 shares during the period. Focus Partners Wealth increased its stake in MercadoLibre by 42.0% during the 1st quarter. Focus Partners Wealth now owns 602 shares of the company’s stock worth $1,176,000 after purchasing an additional 178 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in MercadoLibre during the 2nd quarter worth approximately $261,000. Finally, Wealthspire Advisors LLC raised its holdings in MercadoLibre by 22.9% during the 2nd quarter. Wealthspire Advisors LLC now owns 430 shares of the company’s stock worth $1,124,000 after buying an additional 80 shares during the period. 87.62% of the stock is currently 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.