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

MercadoLibre (NASDAQ:MELI) had its price target lowered by Wedbush from $2,800.00 to $2,700.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Wedbush’s price target suggests a potential upside of 35.02% from the company’s current price.

Other research analysts have also issued reports about the company. Morgan Stanley lifted their target price on MercadoLibre from $2,850.00 to $2,950.00 and gave the stock an “overweight” rating in a report on Monday, November 3rd. Zacks Research upgraded MercadoLibre from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 26th. BTIG Research reiterated a “buy” rating and issued a $2,750.00 target price on shares of MercadoLibre in a report on Thursday, December 4th. Barclays raised their price target on shares of MercadoLibre from $2,800.00 to $2,900.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of MercadoLibre in a research note on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $2,842.94.

MercadoLibre Price Performance

MELI stock traded up $35.22 during mid-day trading on Friday, hitting $1,999.68. The stock had a trading volume of 172,099 shares, compared to its average volume of 432,857. The firm has a fifty day simple moving average of $2,100.83 and a 200 day simple moving average of $2,299.67. The firm has a market capitalization of $101.38 billion, a P/E ratio of 48.80, a P/E/G ratio of 1.42 and a beta of 1.42. The company has a current ratio of 1.17, a quick ratio of 1.15 and a debt-to-equity ratio of 0.55. MercadoLibre has a 52 week low of $1,646.00 and a 52 week high of $2,645.22.

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

Insider Buying and Selling at MercadoLibre

In other news, Director Emiliano Calemzuk sold 45 shares of the company’s 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 transaction of $91,231.65. Following the transaction, the director directly owned 257 shares of the company’s stock, valued at $521,034.09. This represents a 14.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Henrique Vasoncelos Dubugras sold 845 shares of MercadoLibre stock in a transaction on Friday, December 12th. The shares were sold at an average price of $2,028.14, for a total transaction of $1,713,778.30. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 1,136 shares of company stock valued at $2,308,788. Corporate insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On MercadoLibre

Institutional investors and hedge funds have recently bought and sold shares of the stock. Optimize Financial Inc raised its position in MercadoLibre by 1.7% in the first quarter. Optimize Financial Inc now owns 238 shares of the company’s stock worth $464,000 after acquiring an additional 4 shares during the period. Range Financial Group LLC raised its holdings in shares of MercadoLibre by 2.7% in the 2nd quarter. Range Financial Group LLC now owns 188 shares of the company’s stock worth $491,000 after purchasing an additional 5 shares during the period. E Fund Management Hong Kong Co. Ltd. raised its holdings in shares of MercadoLibre by 26.3% in the 2nd quarter. E Fund Management Hong Kong Co. Ltd. now owns 24 shares of the company’s stock worth $63,000 after purchasing an additional 5 shares during the period. Quadcap Wealth Management LLC lifted its stake in MercadoLibre by 4.2% in the second quarter. Quadcap Wealth Management LLC now owns 124 shares of the company’s stock valued at $324,000 after purchasing an additional 5 shares during the last quarter. Finally, PFW Advisors LLC grew its holdings in MercadoLibre by 4.8% during the third quarter. PFW Advisors LLC now owns 110 shares of the company’s stock valued at $257,000 after purchasing an additional 5 shares during the period. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Company Profile

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.