MercadoLibre (NASDAQ:MELI) Price Target Cut to $2,100.00 by Analysts at Wedbush

MercadoLibre (NASDAQ:MELI) had its price objective trimmed by Wedbush from $2,200.00 to $2,100.00 in a research note released on Monday morning,Benzinga reports. The firm currently has an outperform rating on the stock. Wedbush also issued estimates for MercadoLibre’s Q4 2024 earnings at $6.81 EPS, FY2024 earnings at $31.90 EPS, Q1 2025 earnings at $6.00 EPS, Q2 2025 earnings at $8.18 EPS, Q3 2025 earnings at $9.85 EPS, Q4 2025 earnings at $14.39 EPS, FY2025 earnings at $38.44 EPS and FY2026 earnings at $59.20 EPS.

Other analysts also recently issued research reports about the company. Morgan Stanley lowered their price objective on MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. BTIG Research lowered their price target on shares of MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Bank of America raised their price target on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a report on Thursday, September 12th. Cantor Fitzgerald lowered their price objective on shares of MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. Finally, Citigroup cut their target price on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating on the stock in a research note on Tuesday, November 26th. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $2,247.67.

MercadoLibre Trading Down 1.8 %

NASDAQ MELI opened at $1,739.00 on Monday. The firm has a market cap of $88.16 billion, a PE ratio of 61.36, a price-to-earnings-growth ratio of 1.24 and a beta of 1.60. MercadoLibre has a 1-year low of $1,324.99 and a 1-year high of $2,161.73. The stock has a 50-day moving average of $1,883.71 and a 200-day moving average of $1,897.64. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78.

Insider Buying and Selling

In related news, Director Emiliano Calemzuk sold 50 shares of the business’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $1,984.98, for a total transaction of $99,249.00. Following the sale, the director now owns 238 shares of the company’s stock, valued at $472,425.24. The trade was a 17.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.06% of the stock is owned by insiders.

Hedge Funds Weigh In On MercadoLibre

Several large investors have recently made changes to their positions in MELI. Jennison Associates LLC grew its stake in shares of MercadoLibre by 3.9% in the 3rd quarter. Jennison Associates LLC now owns 1,873,919 shares of the company’s stock worth $3,845,207,000 after buying an additional 70,154 shares during the last quarter. FMR LLC boosted its holdings in MercadoLibre by 18.6% in the third quarter. FMR LLC now owns 878,996 shares of the company’s stock worth $1,803,665,000 after acquiring an additional 137,564 shares in the last quarter. State Street Corp grew its stake in shares of MercadoLibre by 3.1% in the third quarter. State Street Corp now owns 404,584 shares of the company’s stock worth $830,190,000 after acquiring an additional 12,000 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of MercadoLibre by 52.9% during the third quarter. Wellington Management Group LLP now owns 349,678 shares of the company’s stock valued at $717,525,000 after acquiring an additional 120,922 shares in the last quarter. Finally, Legal & General Group Plc raised its position in shares of MercadoLibre by 3.6% in the 2nd quarter. Legal & General Group Plc now owns 323,570 shares of the company’s stock worth $531,755,000 after purchasing an additional 11,265 shares during the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

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.