Cantor Fitzgerald Lowers MercadoLibre (NASDAQ:MELI) Price Target to $2,750.00

MercadoLibre (NASDAQ:MELI) had its price target lowered by investment analysts at Cantor Fitzgerald from $2,900.00 to $2,750.00 in a report released on Thursday, MarketBeat Ratings reports. The firm currently has an “overweight” rating on the stock. Cantor Fitzgerald’s price objective would indicate a potential upside of 18.08% from the company’s current price.

A number of other research analysts have also weighed in on MELI. JPMorgan Chase & Co. cut their target price on shares of MercadoLibre from $2,700.00 to $2,600.00 and set a “neutral” rating for the company in a report on Friday, October 3rd. Daiwa Capital Markets initiated coverage on shares of MercadoLibre in a report on Friday, August 1st. They issued a “buy” rating and a $3,000.00 target price on the stock. Scotiabank began coverage on shares of MercadoLibre in a research report on Monday, July 28th. They set a “sector outperform” rating and a $3,500.00 target price on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of MercadoLibre in a research report on Wednesday, October 8th. Finally, Barclays decreased their price objective on MercadoLibre from $3,000.00 to $2,800.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 21st. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $2,796.47.

MercadoLibre Trading Down 1.3%

Shares of MercadoLibre stock opened at $2,328.90 on Thursday. MercadoLibre has a twelve month low of $1,646.00 and a twelve month high of $2,645.22. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.61. The business has a 50-day moving average price of $2,310.58 and a 200-day moving average price of $2,370.75. The firm has a market cap of $118.08 billion, a price-to-earnings ratio of 56.83, a PEG ratio of 1.56 and a beta of 1.46.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Wednesday, October 29th. The company reported $8.32 EPS for the quarter, missing analysts’ consensus estimates of $9.88 by ($1.56). MercadoLibre had a net margin of 7.93% and a return on equity of 41.35%. The firm had revenue of $7.41 billion for the quarter, compared to the consensus estimate of $7.19 billion. During the same period in the previous year, the company posted $7.83 earnings per share. MercadoLibre’s quarterly revenue was up 39.5% on a year-over-year basis. Equities research analysts anticipate that MercadoLibre will post 43.96 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of MELI. Bison Wealth LLC bought a new stake in shares of MercadoLibre during the 4th quarter worth approximately $206,000. Mather Group LLC. lifted its position in shares of MercadoLibre by 115.8% during the first quarter. Mather Group LLC. now owns 41 shares of the company’s stock worth $79,000 after purchasing an additional 22 shares during the last quarter. Clear Creek Financial Management LLC bought a new stake in shares of MercadoLibre during the first quarter worth $213,000. Summit Trail Advisors LLC purchased a new stake in shares of MercadoLibre during the first quarter valued at $211,000. Finally, DAVENPORT & Co LLC grew its holdings in shares of MercadoLibre by 0.9% in the first quarter. DAVENPORT & Co LLC now owns 5,056 shares of the company’s stock worth $9,864,000 after purchasing an additional 47 shares during the last quarter. 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.