MercadoLibre (NASDAQ:MELI) Price Target Lowered to $3,000.00 at Barclays

MercadoLibre (NASDAQ:MELI - Get Free Report) had its target price dropped by equities researchers at Barclays from $3,100.00 to $3,000.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Barclays's price objective indicates a potential upside of 26.98% from the company's current price.

Several other brokerages have also recently weighed in on MELI. Cantor Fitzgerald reduced their price target on MercadoLibre from $2,900.00 to $2,700.00 and set an "overweight" rating for the company in a research report on Wednesday, June 11th. Wall Street Zen lowered MercadoLibre from a "buy" rating to a "hold" rating in a research report on Sunday, June 22nd. The Goldman Sachs Group raised their target price on MercadoLibre from $2,640.00 to $3,000.00 and gave the company a "buy" rating in a research note on Wednesday, May 14th. Morgan Stanley reaffirmed an "overweight" rating on shares of MercadoLibre in a research report on Thursday, May 1st. Finally, Susquehanna restated a "positive" rating and issued a $2,975.00 price target (up from $2,840.00) on shares of MercadoLibre in a research note on Thursday, June 26th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, MercadoLibre currently has a consensus rating of "Moderate Buy" and an average target price of $2,639.69.

MercadoLibre Stock Down 1.2%

MercadoLibre stock traded down $28.49 during mid-day trading on Wednesday, reaching $2,362.56. The stock had a trading volume of 278,497 shares, compared to its average volume of 284,410. The firm has a market capitalization of $119.78 billion, a PE ratio of 58.11, a price-to-earnings-growth ratio of 1.42 and a beta of 1.49. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.18 and a current ratio of 1.20. MercadoLibre has a fifty-two week low of $1,579.78 and a fifty-two week high of $2,645.22. The stock's 50-day simple moving average is $2,475.90 and its 200-day simple moving average is $2,202.14.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $9.74 EPS for the quarter, topping analysts' consensus estimates of $7.82 by $1.92. The business had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.55 billion. MercadoLibre had a return on equity of 48.46% and a net margin of 9.21%. MercadoLibre's quarterly revenue was up 37.0% compared to the same quarter last year. During the same period last year, the company posted $6.78 earnings per share. On average, sell-side analysts forecast that MercadoLibre will post 43.96 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Optimize Financial Inc lifted its stake in MercadoLibre by 1.7% in the 1st quarter. Optimize Financial Inc now owns 238 shares of the company's stock worth $464,000 after purchasing an additional 4 shares in the last quarter. Texas Yale Capital Corp. raised its position in shares of MercadoLibre by 0.3% during the 4th quarter. Texas Yale Capital Corp. now owns 1,634 shares of the company's stock valued at $2,779,000 after buying an additional 5 shares during the period. Meiji Yasuda Life Insurance Co raised its position in shares of MercadoLibre by 0.5% during the 4th quarter. Meiji Yasuda Life Insurance Co now owns 999 shares of the company's stock valued at $1,699,000 after buying an additional 5 shares during the period. Formidable Asset Management LLC raised its position in shares of MercadoLibre by 3.2% during the 4th quarter. Formidable Asset Management LLC now owns 160 shares of the company's stock valued at $272,000 after buying an additional 5 shares during the period. Finally, Revolve Wealth Partners LLC raised its position in shares of MercadoLibre by 4.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 118 shares of the company's stock valued at $201,000 after buying an additional 5 shares during the period. 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.