MercadoLibre (NASDAQ:MELI) Price Target Cut to $1,940.00 by Analysts at Citigroup

MercadoLibre (NASDAQ:MELI) had its price objective trimmed by Citigroup from $1,990.00 to $1,940.00 in a report released on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other equities research analysts have also recently weighed in on the company. JPMorgan Chase & Co. boosted their target price on MercadoLibre from $2,000.00 to $2,150.00 and gave the stock an overweight rating in a research note on Tuesday, February 27th. StockNews.com cut shares of MercadoLibre from a buy rating to a hold rating in a report on Thursday, February 29th. Barclays lifted their price target on shares of MercadoLibre from $1,900.00 to $2,000.00 and gave the stock an overweight rating in a research note on Friday, February 23rd. Susquehanna upped their price objective on shares of MercadoLibre from $1,850.00 to $2,000.00 and gave the company a positive rating in a research note on Friday, February 23rd. Finally, Wedbush reiterated an outperform rating and set a $2,000.00 target price on shares of MercadoLibre in a research report on Tuesday, March 5th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, MercadoLibre currently has a consensus rating of Moderate Buy and an average price target of $1,817.86.

MercadoLibre Stock Down 1.0 %

Shares of MercadoLibre stock opened at $1,522.65 on Wednesday. The company has a quick ratio of 1.24, a current ratio of 1.27 and a debt-to-equity ratio of 0.72. MercadoLibre has a 52-week low of $1,063.02 and a 52-week high of $1,825.00. The company has a market capitalization of $77.20 billion, a P/E ratio of 77.92, a P/E/G ratio of 1.01 and a beta of 1.45. The company has a 50 day moving average of $1,656.29 and a 200 day moving average of $1,508.33.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data on Thursday, February 22nd. The company reported $3.25 earnings per share (EPS) 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 firm had revenue of $4.26 billion for the quarter, compared to analysts’ expectations of $4.14 billion. During the same period last year, the firm posted $3.25 earnings per share. MercadoLibre’s revenue for the quarter was up 42.0% on a year-over-year basis. As a group, research analysts forecast that MercadoLibre will post 36.06 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of MELI. BOKF NA increased its stake in MercadoLibre by 325.0% in the 4th quarter. BOKF NA now owns 17 shares of the company’s stock valued at $27,000 after buying an additional 13 shares during the period. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of MercadoLibre in the fourth quarter valued at about $28,000. Salem Investment Counselors Inc. increased its stake in shares of MercadoLibre by 500.0% during the third quarter. Salem Investment Counselors Inc. now owns 24 shares of the company’s stock worth $30,000 after acquiring an additional 20 shares during the period. Archer Investment Corp purchased a new position in MercadoLibre during the fourth quarter worth about $31,000. Finally, Proffitt & Goodson Inc. purchased a new stake in MercadoLibre in the 3rd quarter valued at approximately $32,000. 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.