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

MercadoLibre (NASDAQ:MELI) had its target price decreased by Wedbush from $2,000.00 to $1,800.00 in a research note issued to investors on Wednesday, Benzinga reports. Wedbush currently has an outperform rating on the stock.

MELI has been the topic of several other reports. Susquehanna lifted their price target on MercadoLibre from $1,850.00 to $2,000.00 and gave the company a positive rating in a research report on Friday, February 23rd. StockNews.com cut MercadoLibre from a buy rating to a hold rating in a report on Thursday, February 29th. UBS Group decreased their target price on MercadoLibre from $1,900.00 to $1,800.00 and set a buy rating on the stock in a report on Wednesday, April 17th. JPMorgan Chase & Co. lifted their target price on MercadoLibre from $2,000.00 to $2,150.00 and gave the stock an overweight rating in a report on Tuesday, February 27th. Finally, Barclays decreased their target price on MercadoLibre from $2,000.00 to $1,800.00 and set an overweight rating on the stock in a report on Wednesday, April 3rd. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, MercadoLibre currently has an average rating of Moderate Buy and an average price target of $1,790.36.

MercadoLibre Stock Up 3.1 %

MELI opened at $1,406.00 on Wednesday. MercadoLibre has a 12 month low of $1,063.02 and a 12 month high of $1,825.00. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.27 and a quick ratio of 1.24. The stock has a market cap of $71.28 billion, a P/E ratio of 71.96, a P/E/G ratio of 0.91 and a beta of 1.44. The stock’s 50 day moving average price is $1,523.37 and its 200 day moving average price is $1,528.68.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Thursday, February 22nd. The company reported $3.25 EPS for the quarter, missing the consensus estimate of $6.66 by ($3.41). MercadoLibre had a net margin of 6.82% and a return on equity of 39.07%. The business had revenue of $4.26 billion during the quarter, compared to analyst estimates of $4.14 billion. During the same quarter in the prior year, the business earned $3.25 earnings per share. The firm’s revenue was up 42.0% compared to the same quarter last year. As a group, research analysts predict that MercadoLibre will post 34.46 earnings per share for the current year.

Institutional Trading of MercadoLibre

A number of institutional investors have recently bought and sold shares of MELI. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of MercadoLibre in the fourth quarter worth about $28,000. First PREMIER Bank acquired a new stake in shares of MercadoLibre in the first quarter worth about $27,000. Archer Investment Corp acquired a new stake in shares of MercadoLibre in the fourth quarter worth about $31,000. Larson Financial Group LLC acquired a new stake in shares of MercadoLibre in the fourth quarter worth about $36,000. Finally, DSM Capital Partners LLC acquired a new stake in shares of MercadoLibre in the fourth quarter worth about $36,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

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.