MercadoLibre's (MELI) "Overweight" Rating Reaffirmed at Cantor Fitzgerald

Key Points

• Cantor Fitzgerald reaffirmed its "overweight" rating for MercadoLibre (NASDAQ:MELI) with a target price of $2,700.00, indicating a potential upside of 16.05% from its current price.
• MercadoLibre recently reported a 10.31 EPS for the quarter, missing estimates, but achieved revenue of $6.79 billion, exceeding analyst expectations.
• The stock is currently down 3.4%, trading at $2,326.53, with a market capitalization of $117.96 billion.

Cantor Fitzgerald restated their overweight rating on shares of MercadoLibre (NASDAQ:MELI - Free Report) in a report issued on Tuesday morning,Benzinga reports. They currently have a $2,700.00 price objective on the stock. Cantor Fitzgerald also issued estimates for MercadoLibre's FY2025 earnings at $42.72 EPS and FY2026 earnings at $54.29 EPS.

A number of other brokerages have also weighed in on MELI. Wedbush cut their price objective on MercadoLibre from $2,800.00 to $2,700.00 and set an "outperform" rating on the stock in a report on Tuesday. The Goldman Sachs Group lifted their price objective on shares of MercadoLibre from $2,640.00 to $3,000.00 and gave the company a "buy" rating in a research note on Wednesday, May 14th. Susquehanna reiterated a "positive" rating and set a $2,975.00 price objective (up previously from $2,840.00) on shares of MercadoLibre in a research note on Thursday, June 26th. Scotiabank began coverage on MercadoLibre in a report on Monday, July 28th. They issued a "sector outperform" rating and a $3,500.00 price objective for the company. Finally, UBS Group set a $3,000.00 target price on MercadoLibre in a report on Monday, June 2nd. Three research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, MercadoLibre presently has a consensus rating of "Moderate Buy" and a consensus price target of $2,795.00.

MercadoLibre Stock Performance

MELI stock traded down $2.76 during trading on Tuesday, reaching $2,332.06. The company had a trading volume of 116,755 shares, compared to its average volume of 394,761. The company has a market cap of $118.23 billion, a price-to-earnings ratio of 57.71, a price-to-earnings-growth ratio of 1.42 and a beta of 1.46. MercadoLibre has a twelve month low of $1,646.00 and a twelve month high of $2,645.22. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.18 and a current ratio of 1.20. The firm has a 50-day simple moving average of $2,441.77 and a 200-day simple moving average of $2,238.33.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The company reported $10.31 EPS for the quarter, missing the consensus estimate of $12.01 by ($1.70). MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%. The company had revenue of $6.79 billion for the quarter, compared to analyst estimates of $6.57 billion. During the same quarter in the previous year, the firm posted $10.48 earnings per share. The company's quarterly revenue was up 33.8% on a year-over-year basis. As a group, sell-side analysts expect that MercadoLibre will post 43.96 earnings per share for the current year.

Institutional Trading of MercadoLibre

A number of hedge funds have recently bought and sold shares of MELI. Optimize Financial Inc raised its position in MercadoLibre by 1.7% in the first quarter. Optimize Financial Inc now owns 238 shares of the company's stock valued at $464,000 after purchasing an additional 4 shares during the period. Texas Yale Capital Corp. lifted its stake in MercadoLibre by 0.3% during the fourth quarter. Texas Yale Capital Corp. now owns 1,634 shares of the company's stock worth $2,779,000 after purchasing an additional 5 shares in the last quarter. Meiji Yasuda Life Insurance Co boosted its position in shares of MercadoLibre by 0.5% during the fourth quarter. Meiji Yasuda Life Insurance Co now owns 999 shares of the company's stock worth $1,699,000 after buying an additional 5 shares during the period. Formidable Asset Management LLC grew its stake in shares of MercadoLibre by 3.2% in the fourth quarter. Formidable Asset Management LLC now owns 160 shares of the company's stock valued at $272,000 after buying an additional 5 shares in the last quarter. Finally, Revolve Wealth Partners LLC raised its holdings in shares of MercadoLibre by 4.4% in 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. Institutional investors and hedge funds own 87.62% of the company's stock.

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.