Cantor Fitzgerald Cuts MercadoLibre (NASDAQ:MELI) Price Target to $2,300.00

MercadoLibre (NASDAQ:MELI) had its price target decreased by Cantor Fitzgerald from $2,530.00 to $2,300.00 in a research report released on Thursday,Benzinga reports. Cantor Fitzgerald currently has an overweight rating on the stock.

Other research analysts have also issued research reports about the stock. Barclays raised their price target on shares of MercadoLibre from $2,100.00 to $2,500.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Bank of America boosted their target price on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a research note on Thursday, September 12th. BTIG Research boosted their target price on shares of MercadoLibre from $2,025.00 to $2,250.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Redburn Atlantic started coverage on shares of MercadoLibre in a report on Friday, October 11th. They set a “buy” rating and a $2,800.00 price target for the company. Finally, Raymond James initiated coverage on shares of MercadoLibre in a report on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 price objective for the company. Three investment 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 has a consensus rating of “Moderate Buy” and an average price target of $2,309.67.

MercadoLibre Stock Performance

NASDAQ:MELI traded up $97.96 during midday trading on Thursday, reaching $1,872.01. The stock had a trading volume of 1,357,175 shares, compared to its average volume of 267,932. The firm has a fifty day simple moving average of $2,046.45 and a two-hundred day simple moving average of $1,822.55. MercadoLibre has a 12-month low of $1,324.99 and a 12-month high of $2,161.73. The company has a quick ratio of 1.26, a current ratio of 1.28 and a debt-to-equity ratio of 0.67. The stock has a market cap of $94.91 billion, a P/E ratio of 66.06, a P/E/G ratio of 1.30 and a beta of 1.61.

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

Hedge Funds Weigh In On MercadoLibre

Institutional investors have recently modified their holdings of the business. Norden Group LLC bought a new stake in shares of MercadoLibre during the 1st quarter valued at about $293,000. Private Advisor Group LLC increased its holdings in shares of MercadoLibre by 4.5% in the first quarter. Private Advisor Group LLC now owns 554 shares of the company’s stock worth $838,000 after buying an additional 24 shares during the period. Duality Advisers LP boosted its position in MercadoLibre by 9.1% during the 1st quarter. Duality Advisers LP now owns 1,418 shares of the company’s stock valued at $2,144,000 after acquiring an additional 118 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of MercadoLibre by 446.9% in the 1st quarter. SG Americas Securities LLC now owns 10,336 shares of the company’s stock worth $15,628,000 after purchasing an additional 8,446 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its position in shares of MercadoLibre by 2.5% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 418 shares of the company’s stock worth $632,000 after purchasing an additional 10 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

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.