MercadoLibre (NASDAQ:MELI) Price Target Lowered to $1,800.00 at Wedbush

MercadoLibre (NASDAQ:MELI) had its price target dropped by analysts at Wedbush from $2,000.00 to $1,800.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Wedbush’s price target suggests a potential upside of 29.03% from the stock’s previous close.

MELI has been the subject of a number of other reports. Barclays lowered their price objective on MercadoLibre from $2,000.00 to $1,800.00 and set an “overweight” rating for the company in a research note on Wednesday, April 3rd. Susquehanna upped their price objective on MercadoLibre from $1,850.00 to $2,000.00 and gave the stock a “positive” rating in a research note on Friday, February 23rd. JPMorgan Chase & Co. upped their price objective on MercadoLibre from $2,000.00 to $2,150.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 27th. DZ Bank upgraded MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 price objective for the company in a research note on Tuesday. Finally, Citigroup lowered their price objective on MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating for the company in a research note on Wednesday, March 27th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $1,790.36.

MercadoLibre Price Performance

Shares of NASDAQ MELI opened at $1,395.00 on Wednesday. MercadoLibre has a twelve month low of $1,063.02 and a twelve month high of $1,825.00. The company has a current ratio of 1.27, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $70.73 billion, a price-to-earnings ratio of 71.39, a price-to-earnings-growth ratio of 0.88 and a beta of 1.44. The business has a 50 day simple moving average of $1,546.31 and a 200-day simple moving average of $1,529.78.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results on Thursday, February 22nd. The company reported $3.25 earnings per share for the quarter, missing analysts’ consensus estimates of $6.66 by ($3.41). MercadoLibre had a net margin of 6.82% and a return on equity of 39.07%. The firm had revenue of $4.26 billion during the quarter, compared to the consensus estimate of $4.14 billion. During the same quarter last year, the firm posted $3.25 earnings per share. MercadoLibre’s revenue was up 42.0% compared to the same quarter last year. As a group, equities research analysts expect that MercadoLibre will post 35.77 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Global Retirement Partners LLC lifted its holdings in shares of MercadoLibre by 151.5% in the first quarter. Global Retirement Partners LLC now owns 83 shares of the company’s stock valued at $125,000 after buying an additional 50 shares during the period. Canvas Wealth Advisors LLC acquired a new stake in shares of MercadoLibre in the first quarter valued at $498,000. Venturi Wealth Management LLC lifted its holdings in shares of MercadoLibre by 1.2% in the first quarter. Venturi Wealth Management LLC now owns 843 shares of the company’s stock valued at $1,275,000 after buying an additional 10 shares during the period. Rational Advisors LLC lifted its holdings in shares of MercadoLibre by 3,442.6% in the first quarter. Rational Advisors LLC now owns 1,665 shares of the company’s stock valued at $2,517,000 after buying an additional 1,618 shares during the period. Finally, Masso Torrence Wealth Management Inc. lifted its holdings in shares of MercadoLibre by 15.4% in the first quarter. Masso Torrence Wealth Management Inc. now owns 172 shares of the company’s stock valued at $260,000 after buying an additional 23 shares during the period. Institutional investors and hedge funds own 87.62% of the company’s stock.

About MercadoLibre

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.