MercadoLibre (NASDAQ:MELI – Free Report) had its price objective lowered by Wedbush from $2,000.00 to $1,800.00 in a report released on Wednesday morning, Benzinga reports. The brokerage currently has an outperform rating on the stock.
Other research analysts also recently issued research reports about the stock. StockNews.com downgraded shares of MercadoLibre from a buy rating to a hold rating in a report on Thursday, February 29th. Barclays lowered their price target on shares of MercadoLibre from $2,000.00 to $1,800.00 and set an overweight rating for the company in a report on Wednesday, April 3rd. Susquehanna increased their price target on shares of MercadoLibre from $1,850.00 to $2,000.00 and gave the company a positive rating in a report on Friday, February 23rd. JPMorgan Chase & Co. increased their price target on shares of MercadoLibre from $2,000.00 to $2,150.00 and gave the company an overweight rating in a report on Tuesday, February 27th. Finally, UBS Group reduced their price objective on shares of MercadoLibre from $1,900.00 to $1,800.00 and set a buy rating on the stock in a research report on Wednesday, April 17th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, MercadoLibre currently has a consensus rating of Moderate Buy and an average price target of $1,790.36.
Check Out Our Latest Stock Report on MELI
MercadoLibre Stock Up 3.1 %
MercadoLibre (NASDAQ:MELI – Get Free Report) last announced its quarterly earnings results on Thursday, February 22nd. The company reported $3.25 EPS for the quarter, missing analysts’ consensus estimates of $6.66 by ($3.41). MercadoLibre had a net margin of 6.82% and a return on equity of 39.07%. The business 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 business posted $3.25 EPS. The firm’s revenue was up 42.0% on a year-over-year basis. Analysts forecast that MercadoLibre will post 34.46 earnings per share for the current fiscal year.
Hedge Funds Weigh In On MercadoLibre
Institutional investors have recently modified their holdings of the stock. First PREMIER Bank purchased a new position in shares of MercadoLibre during the first quarter worth approximately $27,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of MercadoLibre during the fourth quarter worth approximately $28,000. Archer Investment Corp purchased a new position in shares of MercadoLibre during the fourth quarter worth approximately $31,000. Proffitt & Goodson Inc. purchased a new position in shares of MercadoLibre during the third quarter worth approximately $32,000. Finally, NBC Securities Inc. purchased a new position in shares of MercadoLibre during the third quarter worth approximately $35,000. 87.62% of the stock is owned by hedge funds and other institutional investors.
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.
Read More
- Five stocks we like better than MercadoLibre
- Do Real Estate Investment Trusts Deserve a Place in Your Portfolio?
- MarketBeat Week in Review – 4/22 – 4/26
- 3 Warren Buffett Stocks to Buy Now
- 3 Stocks Leading the U.S. Agriculture Comeback
- Best Stocks Under $5.00
- How to Use Put Debit Spreads to Profit From Falling Stocks
Receive News & Ratings for MercadoLibre Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MercadoLibre and related companies with MarketBeat.com's FREE daily email newsletter.