Cantor Fitzgerald Cuts MercadoLibre (NASDAQ:MELI) Price Target to $2,700.00

MercadoLibre (NASDAQ:MELI - Get Free Report) had its price target cut by equities research analysts at Cantor Fitzgerald from $2,900.00 to $2,700.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Cantor Fitzgerald's price target would indicate a potential upside of 13.83% from the company's previous close. Cantor Fitzgerald also issued estimates for MercadoLibre's FY2025 earnings at $44.67 EPS, FY2026 earnings at $57.07 EPS and FY2026 earnings at $61.45 EPS.

A number of other brokerages also recently issued reports on MELI. Jefferies Financial Group reissued a "hold" rating and set a $2,800.00 target price (up from $2,450.00) on shares of MercadoLibre in a research note on Thursday, June 5th. Benchmark downgraded MercadoLibre from a "buy" rating to a "cautious" rating in a research note on Thursday, May 1st. UBS Group set a $3,000.00 price target on MercadoLibre in a report on Monday, June 2nd. Morgan Stanley restated an "overweight" rating on shares of MercadoLibre in a report on Thursday, May 1st. Finally, Citigroup restated a "buy" rating on shares of MercadoLibre in a report on Friday, June 6th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, MercadoLibre currently has an average rating of "Moderate Buy" and an average price target of $2,632.50.

MercadoLibre Stock Performance

Shares of MELI stock traded up $3.16 during trading hours on Wednesday, reaching $2,371.98. 341,577 shares of the company's stock were exchanged, compared to its average volume of 385,718. The company has a market cap of $120.25 billion, a P/E ratio of 62.92, a price-to-earnings-growth ratio of 1.12 and a beta of 1.51. The company's 50 day moving average is $2,330.03 and its two-hundred day moving average is $2,072.57. MercadoLibre has a 1 year low of $1,550.00 and a 1 year high of $2,635.88. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $9.74 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $7.82 by $1.92. The business had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $5.55 billion. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. The company's revenue for the quarter was up 37.0% on a year-over-year basis. During the same period in the prior year, the business posted $6.78 EPS. Equities research analysts anticipate that MercadoLibre will post 43.96 EPS for the current fiscal year.

Institutional Investors Weigh In On MercadoLibre

Large investors have recently bought and sold shares of the stock. Oppenheimer & Co. Inc. grew its holdings in MercadoLibre by 11.7% during the 4th quarter. Oppenheimer & Co. Inc. now owns 1,369 shares of the company's stock valued at $2,328,000 after buying an additional 143 shares during the last quarter. Prospect Financial Services LLC grew its holdings in MercadoLibre by 41.7% during the 1st quarter. Prospect Financial Services LLC now owns 340 shares of the company's stock valued at $663,000 after buying an additional 100 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in MercadoLibre by 34.1% during the 4th quarter. Jones Financial Companies Lllp now owns 3,503 shares of the company's stock valued at $5,957,000 after buying an additional 891 shares during the last quarter. Apollon Wealth Management LLC grew its holdings in MercadoLibre by 47.3% during the 4th quarter. Apollon Wealth Management LLC now owns 629 shares of the company's stock valued at $1,070,000 after buying an additional 202 shares during the last quarter. Finally, JARISLOWSKY FRASER Ltd grew its holdings in MercadoLibre by 43.6% during the 4th quarter. JARISLOWSKY FRASER Ltd now owns 3,249 shares of the company's stock valued at $5,525,000 after buying an additional 987 shares during the last quarter. 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.