Cantor Fitzgerald Cuts MercadoLibre (NASDAQ:MELI) Price Target to $2,350.00

MercadoLibre (NASDAQ:MELI) had its price objective cut by investment analysts at Cantor Fitzgerald from $2,400.00 to $2,350.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Cantor Fitzgerald’s target price suggests a potential upside of 25.09% from the company’s previous close.

Several other brokerages have also recently issued reports on MELI. Barclays lowered their price objective on shares of MercadoLibre from $2,600.00 to $2,500.00 and set an “overweight” rating for the company in a research note on Monday. BTIG Research reiterated a “buy” rating and set a $2,400.00 target price on shares of MercadoLibre in a report on Friday, April 10th. Jefferies Financial Group raised shares of MercadoLibre from a “hold” rating to a “buy” rating and cut their price target for the company from $2,800.00 to $2,600.00 in a report on Tuesday, April 7th. JPMorgan Chase & Co. lowered MercadoLibre from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $2,650.00 to $2,100.00 in a research report on Thursday, March 12th. Finally, Weiss Ratings lowered shares of MercadoLibre from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, January 8th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $2,685.33.

MercadoLibre Stock Up 0.5%

MELI opened at $1,878.63 on Tuesday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.15 and a current ratio of 1.17. MercadoLibre has a one year low of $1,593.21 and a one year high of $2,645.22. The company has a market cap of $95.25 billion, a price-to-earnings ratio of 47.82, a PEG ratio of 0.87 and a beta of 1.49. The business’s fifty day moving average is $1,790.05 and its two-hundred day moving average is $1,991.79.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Saturday, February 14th. The company reported $11.03 EPS for the quarter. The firm had revenue of $8.76 billion during the quarter. MercadoLibre had a net margin of 6.91% and a return on equity of 33.73%. Analysts anticipate that MercadoLibre will post 51.5 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Laurel Wealth Advisors LLC acquired a new stake in shares of MercadoLibre in the 4th quarter valued at $26,000. Transamerica Financial Advisors LLC bought a new position in shares of MercadoLibre in the 4th quarter valued at about $26,000. Purpose Unlimited Inc. bought a new stake in shares of MercadoLibre during the 4th quarter valued at $28,000. Darwin Wealth Management LLC acquired a new position in shares of MercadoLibre during the 2nd quarter worth about $29,000. Finally, Curio Wealth LLC acquired a new stake in MercadoLibre in the fourth quarter worth $30,000. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Company Profile

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.