MercadoLibre (NASDAQ:MELI) Price Target Cut to $1,600.00 by Analysts at UBS Group

Key Points

• UBS cut MercadoLibre’s price target from $1,750 to $1,600 and maintained a neutral rating; the new target implies 5.87% upside from the prior close.
• Analyst sentiment overall remains positive: MercadoLibre has a “Moderate Buy” consensus rating and an average price target of $2,170.62.
• In its latest quarter, the company’s revenue rose 45.1% year over year to $10.75 billion, exceeding estimates, while EPS of $8.83 fell short of the $9.27 consensus.

MercadoLibre (NASDAQ:MELI - Get Free Report) had its price objective reduced by UBS Group from $1,750.00 to $1,600.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a "neutral" rating on the stock. UBS Group's price objective would indicate a potential upside of 5.87% from the stock's previous close.

MELI has been the topic of several other reports. New Street Research began coverage on MercadoLibre in a research report on Wednesday, September 23rd. They set a "buy" rating and a $2,450.00 price target on the stock. Susquehanna upped their price objective on MercadoLibre to $2,400.00 and gave the company a "positive" rating in a report on Tuesday, October 6th. Raymond James Financial reaffirmed a "strong-buy" rating on shares of MercadoLibre in a research note on Thursday, November 5th. JPMorgan Chase & Co. decreased their target price on MercadoLibre from $2,150.00 to $1,850.00 and set a "neutral" rating for the company in a research note on Monday. Finally, Cantor Fitzgerald lowered their target price on MercadoLibre from $2,200.00 to $2,000.00 and set an "overweight" rating on the stock in a report on Thursday, November 5th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, MercadoLibre currently has a consensus rating of "Moderate Buy" and an average target price of $2,170.62.

MercadoLibre Price Performance

Shares of MercadoLibre stock traded up $21.00 on Wednesday, hitting $1,511.24. The company had a trading volume of 476,887 shares, compared to its average volume of 553,578. The business has a 50-day simple moving average of $1,790.41 and a 200-day simple moving average of $1,798.61. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.17 and a quick ratio of 1.10. The company has a market cap of $76.62 billion, a PE ratio of 40.54, a PEG ratio of 1.08 and a beta of 1.42. MercadoLibre has a 52 week low of $1,465.06 and a 52 week high of $2,342.00.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its earnings results on Wednesday, November 4th. The company reported $8.83 EPS for the quarter, missing the consensus estimate of $9.27 by ($0.44). The firm had revenue of $10.75 billion for the quarter, compared to the consensus estimate of $10.69 billion. MercadoLibre had a return on equity of 25.15% and a net margin of 4.91%. MercadoLibre's revenue for the quarter was up 45.1% on a year-over-year basis. During the same period in the previous year, the firm earned $8.32 EPS. Research analysts expect that MercadoLibre will post 37.88 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MELI. Y.D. More Investments Ltd grew its holdings in shares of MercadoLibre by 24.0% in the 1st quarter. Y.D. More Investments Ltd now owns 31 shares of the company's stock worth $53,000 after acquiring an additional 6 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its position in shares of MercadoLibre by 2.9% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 212 shares of the company's stock valued at $367,000 after purchasing an additional 6 shares during the period. Moody National Bank Trust Division boosted its position in shares of MercadoLibre by 0.8% in the 2nd quarter. Moody National Bank Trust Division now owns 733 shares of the company's stock valued at $1,244,000 after purchasing an additional 6 shares during the period. Dynamic Advisor Solutions LLC increased its stake in MercadoLibre by 0.5% in the 2nd quarter. Dynamic Advisor Solutions LLC now owns 1,227 shares of the company's stock worth $2,083,000 after purchasing an additional 6 shares in the last quarter. Finally, Matrix Trust Co increased its stake in MercadoLibre by 1.3% in the 3rd quarter. Matrix Trust Co now owns 458 shares of the company's stock worth $792,000 after purchasing an additional 6 shares in the last quarter. Institutional investors own 87.62% of the company's stock.

MercadoLibre Company Profile

MercadoLibre, Inc. operates an online commerce and financial technology platform focused on Latin America. Founded in Argentina in 1999, the company connects buyers and sellers through its marketplace, where businesses and individuals can list and purchase a wide range of products. The company's services also include Mercado Pago, which offers digital payment and financial services for transactions on and off its marketplace. MercadoLibre supports commerce with services such as Mercado Envíos, its shipping and logistics platform, and provides advertising tools for merchants and brands.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.