MercadoLibre (NASDAQ:MELI) PT Lowered to $1,940.00

MercadoLibre (NASDAQ:MELI) had its price target decreased by Citigroup from $1,990.00 to $1,940.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s price objective would suggest a potential upside of 28.31% from the company’s current price.

Other research analysts have also recently issued reports about the stock. StockNews.com cut shares of MercadoLibre from a “buy” rating to a “hold” rating in a report on Thursday, February 29th. Barclays increased their target price on shares of MercadoLibre from $1,900.00 to $2,000.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. Wedbush reaffirmed an “outperform” rating and issued a $2,000.00 target price on shares of MercadoLibre in a report on Tuesday, March 5th. JPMorgan Chase & Co. increased their target price on shares of MercadoLibre from $2,000.00 to $2,150.00 and gave the company an “overweight” rating in a report on Tuesday, February 27th. Finally, Susquehanna increased their target price on shares of MercadoLibre from $1,850.00 to $2,000.00 and gave the company a “positive” rating in a report on Friday, February 23rd. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, MercadoLibre currently has an average rating of “Moderate Buy” and an average price target of $1,817.86.

MercadoLibre Stock Performance

NASDAQ MELI opened at $1,511.96 on Wednesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.27 and a quick ratio of 1.24. MercadoLibre has a 1 year low of $1,063.02 and a 1 year high of $1,825.00. The company has a market capitalization of $76.66 billion, a PE ratio of 77.38, a P/E/G ratio of 1.01 and a beta of 1.45. The company has a fifty day moving average of $1,654.04 and a two-hundred day moving average of $1,508.43.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Thursday, February 22nd. The company reported $3.25 earnings per share for the quarter, missing the consensus estimate of $6.66 by ($3.41). MercadoLibre had a return on equity of 39.07% and a net margin of 6.82%. The business had revenue of $4.26 billion for the quarter, compared to analyst estimates of $4.14 billion. During the same quarter last year, the company posted $3.25 EPS. MercadoLibre’s quarterly revenue was up 42.0% on a year-over-year basis. As a group, analysts expect that MercadoLibre will post 36.06 earnings per share for the current year.

Hedge Funds Weigh In On MercadoLibre

A number of hedge funds have recently made changes to their positions in the stock. Envestnet Asset Management Inc. increased its stake in MercadoLibre by 99.3% during the 3rd quarter. Envestnet Asset Management Inc. now owns 53,554 shares of the company’s stock worth $67,900,000 after buying an additional 26,679 shares during the period. Townsquare Capital LLC boosted its holdings in shares of MercadoLibre by 0.9% in the 3rd quarter. Townsquare Capital LLC now owns 1,549 shares of the company’s stock valued at $1,964,000 after buying an additional 14 shares during the period. California Public Employees Retirement System boosted its stake in MercadoLibre by 1.5% during the 3rd quarter. California Public Employees Retirement System now owns 89,312 shares of the company’s stock valued at $113,237,000 after purchasing an additional 1,277 shares during the period. Equitable Trust Co. boosted its stake in MercadoLibre by 584.1% during the 3rd quarter. Equitable Trust Co. now owns 1,594 shares of the company’s stock valued at $2,021,000 after purchasing an additional 1,361 shares during the period. Finally, AEGON ASSET MANAGEMENT UK Plc acquired a new stake in shares of MercadoLibre in the 4th quarter worth approximately $7,057,000. 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.