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

MercadoLibre (NASDAQ:MELI) had its price objective lowered by Wedbush from $2,000.00 to $1,800.00 in a research report released on Wednesday, Benzinga reports. The firm currently has an outperform rating on the stock.

Several other equities research analysts also recently commented on MELI. Susquehanna upped their target price 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. UBS Group lowered their target price on shares of MercadoLibre from $1,900.00 to $1,800.00 and set a buy rating for the company in a research note on Wednesday, April 17th. Citigroup lowered their target price 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. DZ Bank raised shares of MercadoLibre from a hold rating to a buy rating and set a $1,685.00 price objective for the company in a research report on Tuesday. Finally, JPMorgan Chase & Co. increased 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. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $1,790.36.

MercadoLibre Trading Down 1.8 %

Shares of NASDAQ MELI opened at $1,370.00 on Wednesday. MercadoLibre has a fifty-two week low of $1,063.02 and a fifty-two week high of $1,825.00. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.27 and a quick ratio of 1.24. The firm has a market capitalization of $69.46 billion, a P/E ratio of 70.11, a P/E/G ratio of 0.90 and a beta of 1.44. The company’s 50 day simple moving average is $1,538.78 and its 200 day simple moving average is $1,528.66.

MercadoLibre (NASDAQ:MELI) 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 net margin of 6.82% and a return on equity of 39.07%. The firm had revenue of $4.26 billion during the quarter, compared to the consensus estimate of $4.14 billion. During the same period in the previous year, the company posted $3.25 EPS. The firm’s revenue for the quarter was up 42.0% on a year-over-year basis. On average, analysts predict that MercadoLibre will post 35.77 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in MELI. WCM Investment Management LLC boosted its holdings in MercadoLibre by 74.8% during the fourth quarter. WCM Investment Management LLC now owns 1,162,724 shares of the company’s stock worth $1,838,964,000 after purchasing an additional 497,535 shares during the last quarter. Norges Bank acquired a new position in MercadoLibre during the fourth quarter worth $554,386,000. Morgan Stanley boosted its holdings in MercadoLibre by 10.2% during the third quarter. Morgan Stanley now owns 2,558,467 shares of the company’s stock worth $3,243,832,000 after purchasing an additional 236,744 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in MercadoLibre by 112,333.8% during the fourth quarter. International Assets Investment Management LLC now owns 146,164 shares of the company’s stock worth $229,703,000 after purchasing an additional 146,034 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in MercadoLibre by 1,432.2% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 127,355 shares of the company’s stock worth $200,140,000 after purchasing an additional 119,043 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Company Profile

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.