MercadoLibre (NASDAQ:MELI) Price Target Lowered to $1,150.00 at Citigroup

MercadoLibre (NASDAQ:MELIGet Rating) had its price objective decreased by equities research analysts at Citigroup from $1,500.00 to $1,150.00 in a research note issued on Thursday, The Fly reports. Citigroup’s price target would suggest a potential upside of 39.46% from the company’s previous close.

MELI has been the topic of a number of other reports. Stifel Nicolaus decreased their price objective on MercadoLibre from $1,600.00 to $1,400.00 and set a “buy” rating on the stock in a research report on Wednesday, February 23rd. TheStreet upgraded MercadoLibre from a “d+” rating to a “c-” rating in a research report on Friday, May 6th. Bradesco Corretora raised MercadoLibre from a “neutral” rating to an “outperform” rating in a research note on Friday, February 25th. Susquehanna cut their price target on MercadoLibre from $1,990.00 to $1,750.00 and set a “positive” rating on the stock in a research note on Wednesday, February 23rd. Finally, KGI Securities assumed coverage on MercadoLibre in a research note on Monday. They issued an “outperform” rating on the stock. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $1,586.00.

NASDAQ MELI opened at $824.62 on Thursday. The firm has a market cap of $41.54 billion, a PE ratio of 224.69 and a beta of 1.58. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.40 and a quick ratio of 1.36. The stock’s 50 day simple moving average is $941.07 and its 200 day simple moving average is $1,064.08. MercadoLibre has a one year low of $640.00 and a one year high of $1,970.13.

MercadoLibre (NASDAQ:MELIGet Rating) last announced its quarterly earnings data on Thursday, May 5th. The company reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.36). The firm had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.06 billion. MercadoLibre had a net margin of 2.30% and a return on equity of 21.93%. The firm’s quarterly revenue was up 63.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.31 earnings per share. As a group, equities analysts expect that MercadoLibre will post 6.59 earnings per share for the current year.

In other MercadoLibre news, VP La Serna Juan Martin De purchased 50 shares of MercadoLibre stock in a transaction that occurred on Friday, March 11th. The stock was acquired at an average price of $931.00 per share, for a total transaction of $46,550.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Marcelo Melamud purchased 55 shares of MercadoLibre stock in a transaction that occurred on Monday, March 14th. The shares were acquired at an average price of $881.82 per share, with a total value of $48,500.10. The disclosure for this purchase can be found here. 0.27% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of the stock. First Pacific Advisors LP lifted its position in MercadoLibre by 10.5% during the fourth quarter. First Pacific Advisors LP now owns 105 shares of the company’s stock worth $142,000 after acquiring an additional 10 shares during the last quarter. Frisch Financial Group Inc. lifted its position in MercadoLibre by 5.1% during the fourth quarter. Frisch Financial Group Inc. now owns 206 shares of the company’s stock worth $278,000 after acquiring an additional 10 shares during the last quarter. United Asset Strategies Inc. lifted its position in MercadoLibre by 5.8% during the first quarter. United Asset Strategies Inc. now owns 182 shares of the company’s stock worth $216,000 after acquiring an additional 10 shares during the last quarter. Veritable L.P. lifted its position in MercadoLibre by 2.4% during the third quarter. Veritable L.P. now owns 463 shares of the company’s stock worth $778,000 after acquiring an additional 11 shares during the last quarter. Finally, Tocqueville Asset Management L.P. lifted its position in MercadoLibre by 3.7% during the third quarter. Tocqueville Asset Management L.P. now owns 310 shares of the company’s stock worth $521,000 after acquiring an additional 11 shares during the last quarter. Institutional investors and hedge funds own 79.61% of the company’s stock.

About MercadoLibre (Get Rating)

MercadoLibre, Inc operates online commerce platforms in Latin America. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases online; and Mercado Pago FinTech, 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.

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