MercadoLibre (NASDAQ:MELI) Given New $2,400.00 Price Target at Cantor Fitzgerald

MercadoLibre (NASDAQ:MELI) had its price target decreased by Cantor Fitzgerald from $3,000.00 to $2,400.00 in a report issued on Wednesday, MarketBeat.com reports. Cantor Fitzgerald currently has an overweight rating on the stock.

Other equities analysts also recently issued reports about the company. Morgan Stanley lowered their price objective on MercadoLibre from $2,650.00 to $2,560.00 and set an “overweight” rating for the company in a research report on Thursday, April 10th. Bank of America boosted their price objective on MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Raymond James upgraded MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 target price on the stock in a research note on Tuesday, January 21st. The Goldman Sachs Group upped their price objective on shares of MercadoLibre from $2,400.00 to $2,750.00 and gave the company a “buy” rating in a report on Monday, March 3rd. Finally, JPMorgan Chase & Co. raised their price objective on shares of MercadoLibre from $1,950.00 to $2,300.00 and gave the company a “neutral” rating in a research report on Tuesday, February 25th. Two equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, MercadoLibre currently has an average rating of “Buy” and a consensus target price of $2,379.71.

MercadoLibre Stock Performance

NASDAQ MELI opened at $2,064.37 on Wednesday. MercadoLibre has a fifty-two week low of $1,324.99 and a fifty-two week high of $2,374.54. The stock has a market cap of $104.66 billion, a PE ratio of 54.76, a PEG ratio of 1.12 and a beta of 1.62. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. The firm’s fifty day moving average price is $2,040.86 and its two-hundred day moving average price is $1,959.57.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Capital Research Global Investors grew its stake in MercadoLibre by 8.0% during the 4th quarter. Capital Research Global Investors now owns 2,415,815 shares of the company’s stock worth $4,108,079,000 after buying an additional 179,807 shares during the last quarter. Capital International Investors grew its holdings in MercadoLibre by 38.7% in the fourth quarter. Capital International Investors now owns 1,687,114 shares of the company’s stock valued at $2,868,869,000 after purchasing an additional 470,829 shares during the last quarter. Capital World Investors lifted its stake in MercadoLibre by 24.5% in the 4th quarter. Capital World Investors now owns 1,568,602 shares of the company’s stock valued at $2,667,386,000 after buying an additional 308,973 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in MercadoLibre by 41.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,394,255 shares of the company’s stock valued at $2,370,848,000 after purchasing an additional 405,425 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in shares of MercadoLibre by 0.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 545,292 shares of the company’s stock valued at $927,239,000 after purchasing an additional 2,048 shares during the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

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.