MercadoLibre (NASDAQ:MELI) Price Target Lowered to $2,200.00 at BTIG Research

MercadoLibre (NASDAQ:MELI) had its target price decreased by BTIG Research from $2,250.00 to $2,200.00 in a research report sent to investors on Thursday,Benzinga reports. BTIG Research currently has a buy rating on the stock.

Other research analysts have also recently issued research reports about the stock. Morgan Stanley lifted their price objective on shares of MercadoLibre from $2,175.00 to $2,500.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Wedbush reaffirmed an “outperform” rating and issued a $2,200.00 price target (up previously from $2,000.00) on shares of MercadoLibre in a report on Thursday. Barclays raised their price objective on MercadoLibre from $2,100.00 to $2,500.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Redburn Atlantic assumed coverage on MercadoLibre in a research report on Friday, October 11th. They issued a “buy” rating and a $2,800.00 price objective for the company. Finally, Raymond James started coverage on MercadoLibre in a research report on Friday, September 27th. They set an “outperform” rating and a $2,350.00 target price on the stock. Three analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, MercadoLibre has an average rating of “Moderate Buy” and a consensus target price of $2,309.67.

MercadoLibre Stock Performance

Shares of NASDAQ MELI traded up $97.96 during trading on Thursday, reaching $1,872.01. 1,356,875 shares of the company traded hands, compared to its average volume of 362,356. MercadoLibre has a 12-month low of $1,324.99 and a 12-month high of $2,161.73. The company has a current ratio of 1.28, a quick ratio of 1.26 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 PEG ratio of 1.26 and a beta of 1.61. The firm’s fifty day simple moving average is $2,046.45 and its 200 day simple moving average is $1,822.55.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data on Wednesday, November 6th. The company reported $7.83 EPS for the quarter, missing the consensus estimate of $11.27 by ($3.44). The company had revenue of $5.31 billion during the quarter, compared to analysts’ expectations of $5.25 billion. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. As a group, research analysts anticipate that MercadoLibre will post 37.7 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MercadoLibre

Institutional investors have recently added to or reduced their stakes in the stock. Migdal Insurance & Financial Holdings Ltd. raised its holdings in shares of MercadoLibre by 1,600.0% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock worth $28,000 after acquiring an additional 16 shares during the period. Optimum Investment Advisors raised its stake in MercadoLibre by 750.0% during the third quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock worth $35,000 after purchasing an additional 15 shares during the period. Financial Connections Group Inc. acquired a new position in MercadoLibre in the 2nd quarter valued at about $36,000. Legacy Bridge LLC grew its stake in shares of MercadoLibre by 53.3% in the 3rd quarter. Legacy Bridge LLC now owns 23 shares of the company’s stock valued at $47,000 after buying an additional 8 shares during the period. Finally, Quarry LP purchased a new stake in shares of MercadoLibre in the 2nd quarter valued at approximately $43,000. 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.