Wedbush Lowers MercadoLibre (NASDAQ:MELI) Price Target to $1,800.00

MercadoLibre (NASDAQ:MELI - Get Free Report) had its price objective lowered by research analysts at Wedbush from $2,000.00 to $1,800.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has an "outperform" rating on the stock. Wedbush's target price would suggest a potential upside of 31.39% from the stock's current price.

Several other analysts also recently commented on the company. DZ Bank upgraded MercadoLibre from a "hold" rating to a "buy" rating and set a $1,685.00 target price on the stock in a research note on Tuesday. Citigroup cut their price target on MercadoLibre from $1,990.00 to $1,940.00 and set a "buy" rating for the company in a research note on Wednesday, March 27th. StockNews.com lowered shares of MercadoLibre from a "buy" rating to a "hold" rating in a research report on Thursday, February 29th. JPMorgan Chase & Co. lifted their price objective on MercadoLibre from $2,000.00 to $2,150.00 and gave the company an "overweight" rating in a research report on Tuesday, February 27th. Finally, UBS Group dropped their target price on shares of MercadoLibre from $1,900.00 to $1,800.00 and set a "buy" rating for the company in a report on Wednesday, April 17th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $1,790.36.

MercadoLibre Stock Down 1.8 %

Shares of MELI stock traded down $25.00 during mid-day trading on Wednesday, reaching $1,370.00. 301,022 shares of the company's stock traded hands, compared to its average volume of 386,410. The company's 50-day moving average price is $1,546.31 and its 200-day moving average price is $1,529.78. The company has a market cap of $69.46 billion, a P/E ratio of 71.39, a P/E/G ratio of 0.88 and a beta of 1.44. The company has a quick ratio of 1.24, a current ratio of 1.27 and a debt-to-equity ratio of 0.72. MercadoLibre has a 12 month low of $1,063.02 and a 12 month high of $1,825.00.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its earnings results on Thursday, February 22nd. The company reported $3.25 EPS for the quarter, missing the consensus estimate of $6.66 by ($3.41). The company had revenue of $4.26 billion during the quarter, compared to the consensus estimate of $4.14 billion. MercadoLibre had a return on equity of 39.07% and a net margin of 6.82%. The company's revenue was up 42.0% compared to the same quarter last year. During the same period last year, the firm posted $3.25 earnings per share. On average, equities analysts expect that MercadoLibre will post 35.77 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of MELI. Wealthspire Advisors LLC lifted its position in shares of MercadoLibre by 1.8% during the 4th quarter. Wealthspire Advisors LLC now owns 391 shares of the company's stock valued at $614,000 after buying an additional 7 shares in the last quarter. Independent Advisor Alliance increased its stake in MercadoLibre by 1.2% during the fourth quarter. Independent Advisor Alliance now owns 586 shares of the company's stock worth $921,000 after acquiring an additional 7 shares during the last quarter. Synergy Financial Group LTD raised its position in MercadoLibre by 0.5% in the third quarter. Synergy Financial Group LTD now owns 1,601 shares of the company's stock valued at $2,030,000 after purchasing an additional 8 shares during the period. Gateway Advisory LLC lifted its stake in shares of MercadoLibre by 1.9% in the 3rd quarter. Gateway Advisory LLC now owns 430 shares of the company's stock valued at $545,000 after purchasing an additional 8 shares during the last quarter. Finally, Contravisory Investment Management Inc. grew its holdings in shares of MercadoLibre by 6.2% during the 4th quarter. Contravisory Investment Management Inc. now owns 138 shares of the company's stock worth $217,000 after purchasing an additional 8 shares during the period. 87.62% of the stock is owned by institutional investors and hedge funds.

MercadoLibre Company Profile

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.