UBS Group Lowers MercadoLibre (NASDAQ:MELI) Price Target to $2,900.00

MercadoLibre (NASDAQ:MELI) had its target price decreased by research analysts at UBS Group from $3,000.00 to $2,900.00 in a note issued to investors on Monday, MarketBeat.com reports. The firm currently has a “buy” rating on the stock. UBS Group’s target price would suggest a potential upside of 41.12% from the company’s previous close.

Several other research analysts have also recently issued reports on the company. Barclays upped their price objective on MercadoLibre from $2,800.00 to $2,900.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Scotiabank assumed coverage on MercadoLibre in a research note on Monday, July 28th. They set a “sector outperform” rating and a $3,500.00 target price for the company. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $2,750.00 price target on shares of MercadoLibre in a report on Tuesday, August 5th. BTIG Research reiterated a “buy” rating and issued a $2,750.00 price target on shares of MercadoLibre in a research note on Friday, November 14th. Finally, Wedbush boosted their price objective on shares of MercadoLibre from $2,700.00 to $2,800.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $2,848.82.

MercadoLibre Trading Up 2.3%

NASDAQ MELI opened at $2,055.00 on Monday. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.61. MercadoLibre has a 52 week low of $1,646.00 and a 52 week high of $2,645.22. The stock has a market capitalization of $104.18 billion, a PE ratio of 50.15, a price-to-earnings-growth ratio of 1.56 and a beta of 1.51. The firm has a 50 day moving average of $2,209.38 and a two-hundred day moving average of $2,358.43.

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

Hedge Funds Weigh In On MercadoLibre

A number of institutional investors have recently modified their holdings of the business. Darwin Wealth Management LLC purchased a new position in MercadoLibre during the 2nd quarter worth $29,000. Highline Wealth Partners LLC boosted its stake in shares of MercadoLibre by 366.7% during the second quarter. Highline Wealth Partners LLC now owns 14 shares of the company’s stock worth $37,000 after buying an additional 11 shares during the period. Brooklyn Investment Group grew its holdings in shares of MercadoLibre by 650.0% during the first quarter. Brooklyn Investment Group now owns 15 shares of the company’s stock worth $29,000 after buying an additional 13 shares during the last quarter. Twin Tree Management LP acquired a new position in MercadoLibre in the 1st quarter valued at about $29,000. Finally, Curio Wealth LLC increased its position in MercadoLibre by 1,400.0% in the 2nd quarter. Curio Wealth LLC now owns 15 shares of the company’s stock valued at $39,000 after acquiring an additional 14 shares during the period. 87.62% of the stock is owned by institutional investors and hedge funds.

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.