MercadoLibre (NASDAQ:MELI) Stock Price Target Cut by Cantor Fitzgerald

Key Points

• Cantor Fitzgerald lowered MercadoLibre’s price target from $2,300 to $2,200 while maintaining an “overweight” rating, implying 16.41% upside from the prior close.
• Analyst sentiment remains positive overall: 12 analysts rate the stock a Buy and six recommend Hold, producing a “Moderate Buy” consensus rating and an average target price of $2,245.62.
• MercadoLibre reported quarterly results above expectations, with EPS of $9.19 versus $8.65 forecast and revenue of $10.17 billion, up 49.8% year over year.

MercadoLibre (NASDAQ:MELI - Get Free Report) had its price target decreased by investment analysts at Cantor Fitzgerald from $2,300.00 to $2,200.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Cantor Fitzgerald's price target would suggest a potential upside of 16.41% from the stock's previous close.

Several other equities research analysts have also issued reports on the company. New Street Research began coverage on MercadoLibre in a report on Wednesday, September 23rd. They set a "buy" rating and a $2,450.00 price target for the company. Zacks Research upgraded shares of MercadoLibre from a "strong sell" rating to a "hold" rating in a report on Monday, July 13th. Citigroup raised their price objective on shares of MercadoLibre from $1,950.00 to $2,000.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 15th. JPMorgan Chase & Co. lifted their target price on MercadoLibre from $1,900.00 to $2,150.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 11th. Finally, BTIG Research reiterated a "buy" rating and issued a $2,150.00 price objective on shares of MercadoLibre in a research report on Thursday, September 3rd. Twelve research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, MercadoLibre has an average rating of "Moderate Buy" and a consensus target price of $2,245.62.

MercadoLibre Price Performance

MELI opened at $1,889.85 on Monday. The stock has a fifty day moving average of $1,864.38 and a 200-day moving average of $1,776.47. The firm has a market capitalization of $95.82 billion, a P/E ratio of 51.40, a PEG ratio of 1.32 and a beta of 1.31. The company has a quick ratio of 1.10, a current ratio of 1.12 and a debt-to-equity ratio of 0.53. MercadoLibre has a 12-month low of $1,495.00 and a 12-month high of $2,428.00.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported $9.19 EPS for the quarter, topping analysts' consensus estimates of $8.65 by $0.54. The firm had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.79 billion. MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%. The business's quarterly revenue was up 49.8% compared to the same quarter last year. During the same period last year, the company posted $10.31 EPS. Equities analysts forecast that MercadoLibre will post 38.29 EPS for the current fiscal year.

Hedge Funds Weigh In On MercadoLibre

Several institutional investors have recently added to or reduced their stakes in the company. Purpose Unlimited Inc. acquired a new stake in MercadoLibre in the fourth quarter valued at $28,000. Wedbush Fund Advisers LLC acquired a new position in MercadoLibre during the 2nd quarter worth about $29,000. Twin Lakes Capital Management LLC acquired a new position in MercadoLibre during the 2nd quarter worth about $31,000. Hanson & Doremus Investment Management acquired a new position in MercadoLibre during the 1st quarter worth about $35,000. Finally, Markowski Investments bought a new stake in shares of MercadoLibre in the 2nd quarter valued at about $36,000. 87.62% of the stock is owned by institutional investors.

MercadoLibre Company Profile

MercadoLibre, Inc NASDAQ: MELI operates a technology platform serving commerce and financial-services customers across Latin America. Its online marketplace connects buyers and sellers, offering products across categories including electronics, apparel, home goods, automotive products and consumer packaged goods.

The company also provides a range of supporting services, including Mercado Pago, a digital payments platform that enables online and in-person transactions, money transfers and other financial services.

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