Stifel Nicolaus Cuts MercadoLibre (NASDAQ:MELI) Price Target to $1,600.00

MercadoLibre (NASDAQ:MELI) had its price objective cut by Stifel Nicolaus from $2,200.00 to $1,600.00 in a report issued on Wednesday morning, The Fly reports.

MELI has been the subject of a number of other reports. Scotiabank upgraded MercadoLibre from a sector perform rating to a sector outperform rating and boosted their price objective for the company from $2,050.00 to $2,100.00 in a research note on Monday, October 25th. Jefferies Financial Group downgraded MercadoLibre from a buy rating to a hold rating and cut their price objective for the company from $2,000.00 to $1,250.00 in a research note on Friday, January 7th. Zacks Investment Research downgraded MercadoLibre from a strong-buy rating to a hold rating and set a $1,814.00 price objective for the company. in a research note on Friday, November 12th. Barclays boosted their price target on MercadoLibre from $2,100.00 to $2,200.00 and gave the stock an overweight rating in a report on Friday, November 5th. Finally, Credit Suisse Group boosted their price target on MercadoLibre from $2,100.00 to $2,200.00 and gave the stock an outperform rating in a report on Friday, November 5th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Buy and an average target price of $1,954.93.

MercadoLibre stock opened at $1,122.74 on Wednesday. The business has a 50-day simple moving average of $1,278.24 and a two-hundred day simple moving average of $1,538.62. The company has a market cap of $55.53 billion, a P/E ratio of 706.13 and a beta of 1.49. MercadoLibre has a 52-week low of $1,001.01 and a 52-week high of $2,020.00. The company has a quick ratio of 1.18, a current ratio of 1.23 and a debt-to-equity ratio of 16.02.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Thursday, November 4th. The company reported $1.92 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.27 by $0.65. The company had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.89 billion. MercadoLibre had a return on equity of 28.07% and a net margin of 1.26%. The firm’s revenue was up 66.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.28 EPS. Research analysts anticipate that MercadoLibre will post 3.78 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Pacitti Group Inc. increased its position in shares of MercadoLibre by 3.0% during the 2nd quarter. Pacitti Group Inc. now owns 209 shares of the company’s stock valued at $325,000 after purchasing an additional 6 shares during the last quarter. Colony Group LLC increased its position in shares of MercadoLibre by 2.2% during the 2nd quarter. Colony Group LLC now owns 322 shares of the company’s stock valued at $502,000 after purchasing an additional 7 shares during the last quarter. IRON Financial LLC increased its position in shares of MercadoLibre by 4.5% during the 3rd quarter. IRON Financial LLC now owns 163 shares of the company’s stock valued at $274,000 after purchasing an additional 7 shares during the last quarter. Lido Advisors LLC increased its position in shares of MercadoLibre by 0.9% during the 2nd quarter. Lido Advisors LLC now owns 863 shares of the company’s stock valued at $1,345,000 after purchasing an additional 8 shares during the last quarter. Finally, Private Capital Group LLC increased its position in shares of MercadoLibre by 17.0% during the 3rd quarter. Private Capital Group LLC now owns 55 shares of the company’s stock valued at $92,000 after purchasing an additional 8 shares during the last quarter. 78.50% of the stock is currently owned by hedge funds and other institutional investors.

MercadoLibre Company Profile

MercadoLibre, Inc engages in the provision of online commerce platform with focus on e-commerce and its related services. It operates through the following geographical segments: Brazil, Argentina, Mexico, Venezuela, and Other Countries. The firm provides users a mechanism for buying, selling and paying as well as collecting, generating leads, and comparing lists through e-commerce transactions.

Featured Story: Why do earnings reports matter?

The Fly logo

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.