MercadoLibre (NASDAQ:MELI) Given New $1,800.00 Price Target at UBS Group

MercadoLibre (NASDAQ:MELI) had its price target decreased by equities research analysts at UBS Group from $1,900.00 to $1,800.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. UBS Group’s price target would indicate a potential upside of 28.77% from the company’s previous close.

Other research analysts also recently issued reports about the stock. JPMorgan Chase & Co. upped their target price on shares of MercadoLibre from $2,000.00 to $2,150.00 and gave the company an “overweight” rating in a research note on Tuesday, February 27th. StockNews.com cut shares of MercadoLibre from a “buy” rating to a “hold” rating in a report on Thursday, February 29th. Barclays cut their price target on shares of MercadoLibre from $2,000.00 to $1,800.00 and set an “overweight” rating on the stock in a report on Wednesday, April 3rd. Susquehanna increased their target price on shares of MercadoLibre from $1,850.00 to $2,000.00 and gave the stock a “positive” rating in a report on Friday, February 23rd. Finally, Wedbush reissued an “outperform” rating and set a $2,000.00 target price on shares of MercadoLibre in a report on Tuesday, March 5th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,813.85.

MercadoLibre Price Performance

MELI opened at $1,397.86 on Wednesday. The company has a quick ratio of 1.24, a current ratio of 1.27 and a debt-to-equity ratio of 0.72. MercadoLibre has a 52-week low of $1,063.02 and a 52-week high of $1,825.00. The company has a 50 day moving average of $1,574.80 and a two-hundred day moving average of $1,523.84. The company has a market cap of $70.87 billion, a P/E ratio of 71.54, a P/E/G ratio of 0.90 and a beta of 1.44.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data on Thursday, February 22nd. The company reported $3.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.66 by ($3.41). The business had revenue of $4.26 billion for the quarter, compared to analysts’ expectations of $4.14 billion. MercadoLibre had a return on equity of 39.07% and a net margin of 6.82%. MercadoLibre’s quarterly revenue was up 42.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.25 earnings per share. On average, analysts expect that MercadoLibre will post 35.77 earnings per share for the current year.

Hedge Funds Weigh In On MercadoLibre

Institutional investors and hedge funds have recently bought and sold shares of the stock. BOKF NA grew its position in MercadoLibre by 325.0% in the 4th quarter. BOKF NA now owns 17 shares of the company’s stock valued at $27,000 after buying an additional 13 shares in the last quarter. Turtle Creek Wealth Advisors LLC bought a new position in shares of MercadoLibre during the 4th quarter valued at about $28,000. First PREMIER Bank bought a new position in shares of MercadoLibre during the 1st quarter valued at about $27,000. Archer Investment Corp bought a new position in shares of MercadoLibre during the 4th quarter valued at about $31,000. Finally, Larson Financial Group LLC bought a new position in shares of MercadoLibre during the 4th quarter valued at about $36,000. 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.