UBS Group Lowers MercadoLibre (NASDAQ:MELI) Price Target to $1,800.00

MercadoLibre (NASDAQ:MELI) had its price target lowered by UBS Group from $1,900.00 to $1,800.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. UBS Group’s price target would suggest a potential upside of 31.36% from the stock’s current price.

Several other analysts have also recently issued reports on MELI. StockNews.com cut shares of MercadoLibre from a “buy” rating to a “hold” rating in a research note on Thursday, February 29th. Citigroup dropped their price objective on shares of MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating for the company in a research note on Wednesday, March 27th. Susquehanna upped their price objective on shares of MercadoLibre from $1,850.00 to $2,000.00 and gave the company a “positive” rating in a research note on Friday, February 23rd. Wedbush reaffirmed an “outperform” rating and set a $2,000.00 price objective on shares of MercadoLibre in a research note on Tuesday, March 5th. Finally, JPMorgan Chase & Co. upped their price objective on shares of MercadoLibre from $2,000.00 to $2,150.00 and gave the company an “overweight” rating in a research note on Tuesday, February 27th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,813.85.

MercadoLibre Stock Down 2.0 %

MELI opened at $1,370.25 on Wednesday. MercadoLibre has a twelve month low of $1,063.02 and a twelve month high of $1,825.00. The company has a quick ratio of 1.24, a current ratio of 1.27 and a debt-to-equity ratio of 0.72. The company has a 50-day moving average price of $1,567.55 and a 200 day moving average price of $1,522.78. The company has a market cap of $69.47 billion, a PE ratio of 70.13, a price-to-earnings-growth ratio of 0.90 and a beta of 1.44.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Thursday, February 22nd. The company reported $3.25 earnings per share for the quarter, missing the consensus estimate of $6.66 by ($3.41). MercadoLibre had a return on equity of 39.07% and a net margin of 6.82%. The company had revenue of $4.26 billion for the quarter, compared to analyst estimates of $4.14 billion. During the same quarter last year, the company earned $3.25 EPS. The firm’s revenue for the quarter was up 42.0% on a year-over-year basis. Sell-side analysts expect that MercadoLibre will post 35.77 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MercadoLibre

Hedge funds have recently made changes to their positions in the stock. First PREMIER Bank purchased a new position in shares of MercadoLibre during the 1st quarter worth approximately $27,000. BOKF NA lifted its holdings in MercadoLibre by 325.0% during the 4th quarter. BOKF NA now owns 17 shares of the company’s stock worth $27,000 after buying an additional 13 shares in the last quarter. Turtle Creek Wealth Advisors LLC acquired a new stake in MercadoLibre during the 4th quarter worth approximately $28,000. Archer Investment Corp acquired a new stake in MercadoLibre during the 4th quarter worth approximately $31,000. Finally, Proffitt & Goodson Inc. acquired a new stake in MercadoLibre during the 3rd quarter worth approximately $32,000. Hedge funds and other 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.