Credit Suisse Group Lowers MercadoLibre (NASDAQ:MELI) Price Target to $1,850.00

MercadoLibre (NASDAQ:MELI) had its price objective decreased by equities research analysts at Credit Suisse Group from $1,925.00 to $1,850.00 in a research note issued on Monday, The Fly reports. The firm presently has an “outperform” rating on the stock. Credit Suisse Group’s price target would suggest a potential upside of 21.16% from the company’s previous close.

Other analysts also recently issued research reports about the stock. Bradesco Corretora downgraded shares of MercadoLibre from an “outperform” rating to a “neutral” rating and set a $2,000.00 price target for the company. in a research note on Thursday, January 28th. Wolfe Research assumed coverage on shares of MercadoLibre in a research note on Wednesday, March 31st. They set an “outperform” rating and a $1,800.00 price target for the company. HSBC lifted their price target on shares of MercadoLibre from $1,800.00 to $2,100.00 and gave the company a “buy” rating in a research note on Tuesday, January 19th. JPMorgan Chase & Co. lifted their price target on shares of MercadoLibre from $1,640.00 to $1,730.00 and gave the company an “overweight” rating in a research note on Monday, March 15th. Finally, TheStreet downgraded shares of MercadoLibre from a “c” rating to a “d+” rating in a research note on Monday, March 15th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $1,720.56.

Shares of NASDAQ MELI opened at $1,526.91 on Monday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.64 and a quick ratio of 1.62. The company has a market cap of $76.15 billion, a P/E ratio of -9,542.59 and a beta of 1.63. MercadoLibre has a 1 year low of $610.83 and a 1 year high of $2,020.00. The firm has a 50-day simple moving average of $1,532.52 and a two-hundred day simple moving average of $1,593.36.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Monday, March 1st. The company reported ($1.02) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by ($1.41). MercadoLibre had a negative return on equity of 0.22% and a negative net margin of 0.12%. The firm had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same period in the previous year, the business earned ($1.11) EPS. The firm’s revenue for the quarter was up 96.9% on a year-over-year basis. As a group, equities research analysts expect that MercadoLibre will post 1.08 EPS for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MELI. Annapolis Financial Services LLC purchased a new position in MercadoLibre in the fourth quarter worth $25,000. Bedel Financial Consulting Inc. grew its holdings in MercadoLibre by 216.7% in the first quarter. Bedel Financial Consulting Inc. now owns 19 shares of the company’s stock worth $28,000 after purchasing an additional 13 shares during the last quarter. Better Money Decisions LLC purchased a new position in MercadoLibre in the first quarter worth $32,000. Birchcreek Wealth Management LLC purchased a new position in MercadoLibre in the fourth quarter worth $33,000. Finally, Wealthcare Advisory Partners LLC purchased a new stake in shares of MercadoLibre during the first quarter valued at $35,000. 80.60% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Company Profile

MercadoLibre, Inc operates online commerce platforms in Latin America. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases online; and Mercado Pago FinTech, 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 via their websites and mobile apps.

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