MercadoLibre (NASDAQ:MELI) Given New $2,000.00 Price Target at Cantor Fitzgerald

MercadoLibre (NASDAQ:MELI) had its price target trimmed by Cantor Fitzgerald from $2,200.00 to $2,000.00 in a research note released on Thursday, MarketBeat.com reports. They currently have an overweight rating on the stock.

A number of other equities analysts have also weighed in on the stock. Susquehanna boosted their price objective on shares of MercadoLibre to $2,400.00 and gave the stock a “positive” rating in a report on Tuesday, October 6th. JPMorgan Chase & Co. increased their target price on MercadoLibre from $1,900.00 to $2,150.00 and gave the company a “neutral” rating in a research note on Tuesday, August 11th. Citigroup upgraded MercadoLibre from a “neutral” rating to a “buy” rating and cut their target price for the company from $2,100.00 to $2,050.00 in a research note on Tuesday, October 27th. New Street Research started coverage on MercadoLibre in a report on Wednesday, September 23rd. They issued a “buy” rating and a $2,450.00 target price for the company. Finally, Raymond James Financial restated a “strong-buy” rating on shares of MercadoLibre in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $2,198.75.

MercadoLibre Stock Down 12.0%

NASDAQ:MELI opened at $1,530.28 on Thursday. The firm has a market cap of $77.59 billion, a P/E ratio of 46.67, a P/E/G ratio of 1.22 and a beta of 1.42. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.10 and a current ratio of 1.12. MercadoLibre has a fifty-two week low of $1,469.01 and a fifty-two week high of $2,342.00. The firm has a 50-day simple moving average of $1,816.43 and a two-hundred day simple moving average of $1,807.18.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Wednesday, November 4th. The company reported $8.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.27 by ($0.44). The firm had revenue of $10.75 billion during the quarter, compared to the consensus estimate of $10.69 billion. MercadoLibre had a return on equity of 25.93% and a net margin of 4.91%. The company’s quarterly revenue was up 45.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $8.32 EPS. Analysts predict that MercadoLibre will post 38.09 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Ritholtz Wealth Management raised its stake in MercadoLibre by 6.2% during the 3rd quarter. Ritholtz Wealth Management now owns 875 shares of the company’s stock valued at $1,512,000 after purchasing an additional 51 shares during the period. Knights of Columbus Asset Advisors LLC lifted its holdings in MercadoLibre by 392.5% in the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 1,113 shares of the company’s stock worth $1,924,000 after purchasing an additional 887 shares in the last quarter. Lido Advisors LLC boosted its stake in MercadoLibre by 6.9% in the 3rd quarter. Lido Advisors LLC now owns 2,646 shares of the company’s stock worth $4,575,000 after purchasing an additional 171 shares during the period. Csenge Advisory Group boosted its stake in MercadoLibre by 57.1% in the 3rd quarter. Csenge Advisory Group now owns 209 shares of the company’s stock worth $361,000 after purchasing an additional 76 shares during the period. Finally, Gryphon Financial Partners LLC boosted its stake in MercadoLibre by 1.2% in the 3rd quarter. Gryphon Financial Partners LLC now owns 994 shares of the company’s stock worth $1,718,000 after purchasing an additional 12 shares during the period. 87.62% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting MercadoLibre

Here are the key news stories impacting MercadoLibre this week:

• Positive Sentiment: Q3 revenue and financial income rose 45% year over year to $10.75 billion, topping estimates. Management highlighted strong Brazil growth and expansion in fintech, alongside growing use of AI. Mercado Libre Q3 results
• Neutral Sentiment: Analysts cut price targets but maintained positive ratings: Scotiabank lowered its target to $2,300 and kept “sector outperform”; BTIG cut to $2,050 with a “buy” rating; Cantor Fitzgerald reduced its target to $2,000 and retained “overweight.” The target reductions temper, but do not remove, their optimism. Scotiabank rating
• Negative Sentiment: Adjusted earnings were $8.83 per share, below the $9.27 consensus estimate. Operating income fell 6% to $676 million, and operating margin contracted to 6.3% from 9.8% a year earlier. Higher logistics, shipping, marketing, technology and affiliate investment costs are weighing on profitability, while currency-neutral growth has slowed for several quarters. These margin and earnings concerns help explain the negative reaction despite the revenue beat. Reuters report on earnings and costs

MercadoLibre Company Profile

MercadoLibre, Inc is a technology company that operates an online commerce and financial services ecosystem across Latin America. Founded in 1999 by Marcos Galperin, the company initially developed an online marketplace and has expanded into a broad platform connecting buyers and sellers with businesses and consumers.

Its commerce operations include the MercadoLibre marketplace, where users can purchase and sell products across numerous categories. The company also offers supporting services such as Mercado Envíos for shipping and logistics, Mercado Ads for digital advertising, and tools for merchants to manage their online businesses.

MercadoLibre’s financial technology business is centered on Mercado Pago, which provides digital payment processing, online checkout, money transfer and account services.