MercadoLibre (NASDAQ:MELI) Price Target Raised to $2,900.00 at Cantor Fitzgerald

Key Points

• Cantor Fitzgerald has raised its price target for MercadoLibre (NASDAQ:MELI) from $2,700.00 to $2,900.00, which suggests a potential upside of 16.26% from the current stock price and maintains an "overweight" rating.
• MercadoLibre reported $10.31 earnings per share for the last quarter, falling short of the expected $12.01, although its revenue increased by 33.8% year-over-year to $6.79 billion.
• Currently, the stock holds a consensus rating of "Moderate Buy" with a target price averaging $2,828.33, as multiple analysts have issued various price projections and ratings.

MercadoLibre (NASDAQ:MELI - Get Free Report) had its target price hoisted by Cantor Fitzgerald from $2,700.00 to $2,900.00 in a report released on Wednesday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Cantor Fitzgerald's target price indicates a potential upside of 16.26% from the stock's current price.

Other equities analysts have also issued reports about the stock. Jefferies Financial Group reaffirmed a "hold" rating and issued a $2,800.00 target price on shares of MercadoLibre in a research note on Tuesday, August 5th. Susquehanna reaffirmed a "positive" rating and set a $2,975.00 price objective (up from $2,840.00) on shares of MercadoLibre in a research report on Thursday, June 26th. Barclays decreased their price objective on MercadoLibre from $3,100.00 to $3,000.00 and set an "overweight" rating for the company in a report on Wednesday, July 23rd. Benchmark reissued a "buy" rating and issued a $2,875.00 target price on shares of MercadoLibre in a research report on Tuesday, August 5th. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and set a $2,750.00 price target on shares of MercadoLibre in a research report on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $2,828.33.

MercadoLibre Stock Performance

Shares of MELI stock opened at $2,494.35 on Wednesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.18 and a current ratio of 1.20. MercadoLibre has a 52 week low of $1,646.00 and a 52 week high of $2,645.22. The company's 50 day moving average price is $2,385.80 and its two-hundred day moving average price is $2,324.24. The company has a market capitalization of $126.46 billion, a P/E ratio of 61.60, a price-to-earnings-growth ratio of 1.60 and a beta of 1.49.

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Valeo Financial Advisors LLC boosted its holdings in shares of MercadoLibre by 5.4% in the 2nd quarter. Valeo Financial Advisors LLC now owns 390 shares of the company's stock valued at $1,019,000 after buying an additional 20 shares during the last quarter. NWF Advisory Services Inc. acquired a new position in shares of MercadoLibre during the 2nd quarter worth about $222,000. China Universal Asset Management Co. Ltd. increased its stake in shares of MercadoLibre by 59.0% during the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 1,991 shares of the company's stock worth $5,204,000 after purchasing an additional 739 shares during the last quarter. Orion Porfolio Solutions LLC raised its holdings in shares of MercadoLibre by 13.0% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 1,665 shares of the company's stock valued at $4,352,000 after purchasing an additional 191 shares during the period. Finally, Munro Partners acquired a new stake in MercadoLibre in the 2nd quarter valued at about $5,841,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.