Morgan Stanley Cuts MercadoLibre (NASDAQ:MELI) Price Target to $2,560.00

MercadoLibre (NASDAQ:MELI) had its price objective cut by equities researchers at Morgan Stanley from $2,650.00 to $2,560.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Morgan Stanley’s target price would indicate a potential upside of 35.85% from the stock’s current price.

A number of other research analysts have also recently weighed in on the stock. Cantor Fitzgerald lifted their price target on shares of MercadoLibre from $2,150.00 to $3,000.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Bank of America upped their price target on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. The Goldman Sachs Group raised their price objective on MercadoLibre from $2,400.00 to $2,750.00 and gave the company a “buy” rating in a research report on Monday, March 3rd. Susquehanna boosted their price objective on MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a “positive” rating in a research note on Friday, February 21st. Finally, Barclays raised their target price on MercadoLibre from $2,200.00 to $2,500.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, MercadoLibre has an average rating of “Buy” and an average price target of $2,409.69.

MercadoLibre Trading Down 4.9 %

Shares of MELI stock traded down $96.28 on Thursday, reaching $1,884.39. 173,242 shares of the stock were exchanged, compared to its average volume of 387,033. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. The stock has a market cap of $95.53 billion, a P/E ratio of 49.96, a price-to-earnings-growth ratio of 1.12 and a beta of 1.62. The firm has a 50 day moving average of $2,035.05 and a two-hundred day moving average of $1,961.07. MercadoLibre has a 1-year low of $1,324.99 and a 1-year high of $2,374.54.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Thursday, February 20th. The company reported $12.61 EPS for the quarter, topping the consensus estimate of $10.21 by $2.40. The company had revenue of $6.06 billion during the quarter, compared to analyst estimates of $5.94 billion. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. On average, research analysts anticipate that MercadoLibre will post 43.96 EPS for the current year.

Institutional Trading of MercadoLibre

A number of institutional investors and hedge funds have recently made changes to their positions in MELI. Myriad Asset Management US LP acquired a new stake in MercadoLibre in the first quarter worth $6,370,000. Whipplewood Advisors LLC lifted its position in MercadoLibre by 71.5% in the 1st quarter. Whipplewood Advisors LLC now owns 223 shares of the company’s stock valued at $435,000 after purchasing an additional 93 shares during the last quarter. RFG Advisory LLC boosted its stake in MercadoLibre by 380.0% during the 1st quarter. RFG Advisory LLC now owns 1,512 shares of the company’s stock valued at $2,949,000 after purchasing an additional 1,197 shares during the period. Merit Financial Group LLC grew its position in MercadoLibre by 7.7% in the 1st quarter. Merit Financial Group LLC now owns 757 shares of the company’s stock worth $1,477,000 after purchasing an additional 54 shares during the last quarter. Finally, NBC Securities Inc. acquired a new stake in shares of MercadoLibre in the first quarter valued at approximately $72,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.

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.