Barclays Trims MercadoLibre (NASDAQ:MELI) Target Price to $1,800.00

MercadoLibre (NASDAQ:MELIGet Free Report) had its price target lowered by Barclays from $2,000.00 to $1,800.00 in a report released on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s target price would suggest a potential upside of 19.01% from the stock’s current price.

Other equities research analysts have also issued reports about the stock. Citigroup decreased their price objective on shares of MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating on the stock in a research report on Wednesday, March 27th. Wedbush reiterated an “outperform” rating and issued a $2,000.00 price objective on shares of MercadoLibre in a research report on Tuesday, March 5th. JPMorgan Chase & Co. boosted their price objective on shares of MercadoLibre from $2,000.00 to $2,150.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 27th. StockNews.com lowered shares of MercadoLibre from a “buy” rating to a “hold” rating in a research report on Thursday, February 29th. Finally, Susquehanna boosted their price objective on shares of MercadoLibre from $1,850.00 to $2,000.00 and gave the stock a “positive” rating in a research report on Friday, February 23rd. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,806.15.

Get Our Latest Stock Report on MercadoLibre

MercadoLibre Price Performance

Shares of NASDAQ MELI opened at $1,512.51 on Wednesday. The firm has a market capitalization of $76.68 billion, a P/E ratio of 77.41, a PEG ratio of 1.00 and a beta of 1.44. MercadoLibre has a one year low of $1,063.02 and a one year high of $1,825.00. The company’s fifty day moving average is $1,642.20 and its two-hundred day moving average is $1,511.65. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.27.

MercadoLibre (NASDAQ:MELIGet Free Report) last issued its earnings results on Thursday, February 22nd. The company reported $3.25 EPS 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 analysts’ expectations of $4.14 billion. During the same quarter in the previous year, the firm posted $3.25 earnings per share. MercadoLibre’s revenue for the quarter was up 42.0% on a year-over-year basis. Analysts forecast that MercadoLibre will post 36.06 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Confluence Investment Management LLC acquired a new position in shares of MercadoLibre during the 1st quarter valued at about $346,000. HighPoint Advisor Group LLC acquired a new position in shares of MercadoLibre during the 4th quarter valued at about $595,000. Quadrature Capital Ltd purchased a new stake in shares of MercadoLibre during the 4th quarter worth about $36,777,000. PNC Financial Services Group Inc. grew its holdings in shares of MercadoLibre by 21.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,937 shares of the company’s stock worth $12,473,000 after purchasing an additional 1,418 shares during the period. Finally, Leo Wealth LLC purchased a new stake in shares of MercadoLibre during the 4th quarter worth about $490,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Company Profile

(Get Free Report)

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.

Read More

Analyst Recommendations for MercadoLibre (NASDAQ:MELI)

Receive News & Ratings for MercadoLibre Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MercadoLibre and related companies with MarketBeat.com's FREE daily email newsletter.