BTIG Research Issues Pessimistic Forecast for MercadoLibre (NASDAQ:MELI) Stock Price

MercadoLibre (NASDAQ:MELI) had its price target decreased by research analysts at BTIG Research from $2,250.00 to $2,200.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. BTIG Research’s price target suggests a potential upside of 17.52% from the company’s current price.

Several other research analysts have also recently weighed in on MELI. JPMorgan Chase & Co. cut MercadoLibre from an “overweight” rating to a “neutral” rating and set a $2,400.00 price objective on the stock. in a research report on Wednesday, October 2nd. Morgan Stanley upped their target price on MercadoLibre from $2,175.00 to $2,500.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. Wedbush restated an “outperform” rating and issued a $2,200.00 price target (up from $2,000.00) on shares of MercadoLibre in a research note on Thursday. Cantor Fitzgerald cut their target price on shares of MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating on the stock in a research report on Thursday. Finally, StockNews.com cut MercadoLibre from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $2,309.67.

MercadoLibre Stock Performance

Shares of MELI stock opened at $1,872.01 on Thursday. The company has a market capitalization of $94.91 billion, a price-to-earnings ratio of 66.06, a PEG ratio of 1.30 and a beta of 1.61. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.26 and a current ratio of 1.28. MercadoLibre has a 52 week low of $1,324.99 and a 52 week high of $2,161.73. The company has a 50-day simple moving average of $2,046.45 and a 200 day simple moving average of $1,822.55.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $7.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $11.27 by ($3.44). The firm had revenue of $5.31 billion for the quarter, compared to the consensus estimate of $5.25 billion. MercadoLibre had a return on equity of 42.61% and a net margin of 7.57%. On average, sell-side analysts predict that MercadoLibre will post 37.28 earnings per share for the current year.

Hedge Funds Weigh In On MercadoLibre

A number of hedge funds have recently bought and sold shares of MELI. Planning Capital Management Corp lifted its stake in MercadoLibre by 9.1% in the third quarter. Planning Capital Management Corp now owns 60 shares of the company’s stock valued at $123,000 after buying an additional 5 shares during the period. Mount Lucas Management LP lifted its position in shares of MercadoLibre by 3.6% during the 3rd quarter. Mount Lucas Management LP now owns 143 shares of the company’s stock valued at $293,000 after acquiring an additional 5 shares during the period. O Dell Group LLC boosted its stake in MercadoLibre by 2.1% during the first quarter. O Dell Group LLC now owns 294 shares of the company’s stock worth $445,000 after acquiring an additional 6 shares in the last quarter. Belpointe Asset Management LLC boosted its stake in MercadoLibre by 1.0% during the second quarter. Belpointe Asset Management LLC now owns 618 shares of the company’s stock worth $1,016,000 after acquiring an additional 6 shares in the last quarter. Finally, Ameritas Investment Partners Inc. grew its holdings in MercadoLibre by 0.4% in the second quarter. Ameritas Investment Partners Inc. now owns 1,472 shares of the company’s stock worth $2,419,000 after purchasing an additional 6 shares during the period. Institutional investors 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.