Cantor Fitzgerald Cuts MercadoLibre (NASDAQ:MELI) Price Target to $2,400.00

MercadoLibre (NASDAQ:MELI) had its price target lowered by Cantor Fitzgerald from $3,000.00 to $2,400.00 in a report published on Wednesday, MarketBeat reports. The firm currently has an overweight rating on the stock. Cantor Fitzgerald also issued estimates for MercadoLibre’s FY2025 earnings at $46.58 EPS.

A number of other research analysts also recently issued reports on the company. Citigroup reissued a “buy” rating on shares of MercadoLibre in a report on Tuesday. JPMorgan Chase & Co. raised their price target on shares of MercadoLibre from $1,950.00 to $2,300.00 and gave the company a “neutral” rating in a research report on Tuesday, February 25th. Raymond James upgraded shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price objective for the company in a research report on Tuesday, January 21st. New Street Research upgraded MercadoLibre from a “neutral” rating to a “buy” rating and raised their target price for the company from $2,000.00 to $2,300.00 in a research report on Thursday, January 30th. Finally, The Goldman Sachs Group upped their price target on MercadoLibre from $2,400.00 to $2,750.00 and gave the stock a “buy” rating in a report on Monday, March 3rd. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, MercadoLibre currently has a consensus rating of “Buy” and a consensus target price of $2,415.94.

MercadoLibre Stock Up 1.7 %

MELI stock opened at $2,099.37 on Wednesday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. The firm’s fifty day simple moving average is $2,043.29 and its 200-day simple moving average is $1,960.13. MercadoLibre has a 12 month low of $1,324.99 and a 12 month high of $2,374.54. The company has a market capitalization of $106.43 billion, a P/E ratio of 55.69, a price-to-earnings-growth ratio of 1.12 and a beta of 1.62.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Thursday, February 20th. The company reported $12.61 earnings per share for the quarter, topping the consensus estimate of $10.21 by $2.40. The company had revenue of $6.06 billion for the quarter, compared to the consensus estimate of $5.94 billion. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. As a group, equities research analysts forecast that MercadoLibre will post 43.96 earnings per share for the current year.

Institutional Investors Weigh In On MercadoLibre

A number of large investors have recently modified their holdings of MELI. Bender Robert & Associates boosted its position in MercadoLibre by 2.8% during the first quarter. Bender Robert & Associates now owns 12,387 shares of the company’s stock worth $24,165,000 after acquiring an additional 337 shares during the last quarter. Prosperity Wealth Management Inc. increased its holdings in shares of MercadoLibre by 9.4% in the first quarter. Prosperity Wealth Management Inc. now owns 290 shares of the company’s stock valued at $566,000 after purchasing an additional 25 shares during the last quarter. Insigneo Advisory Services LLC boosted its stake in MercadoLibre by 9.5% during the first quarter. Insigneo Advisory Services LLC now owns 1,927 shares of the company’s stock worth $3,759,000 after buying an additional 167 shares during the last quarter. Grove Bank & Trust grew its holdings in MercadoLibre by 54.5% in the 1st quarter. Grove Bank & Trust now owns 34 shares of the company’s stock valued at $66,000 after buying an additional 12 shares in the last quarter. Finally, QRG Capital Management Inc. increased its stake in shares of MercadoLibre by 73.2% in the 1st quarter. QRG Capital Management Inc. now owns 291 shares of the company’s stock worth $568,000 after acquiring an additional 123 shares during the last quarter. Hedge funds and other institutional investors 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.