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

by · The Cerbat Gem

MercadoLibre (NASDAQ:MELI – Free Report) had its target price decreased by Wedbush from $2,800.00 to $2,700.00 in a report released on Friday morning,Benzinga reports. Wedbush currently has an outperform rating on the stock.

A number of other research analysts have also weighed in on MELI. Barclays raised their target price on MercadoLibre from $2,800.00 to $2,900.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Weiss Ratings restated a “buy (b-)” rating on shares of MercadoLibre in a report on Friday, October 31st. BTIG Research reissued a “buy” rating and set a $2,750.00 target price on shares of MercadoLibre in a research report on Thursday, December 4th. Dbs Bank upgraded MercadoLibre from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, December 2nd. Finally, Susquehanna decreased their price target on MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating for the company in a research report on Monday, October 13th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, MercadoLibre currently has a consensus rating of “Moderate Buy” and an average target price of $2,842.94.

Check Out Our Latest Stock Report on MercadoLibre

MercadoLibre Price Performance

Shares of MELI opened at $1,997.61 on Friday. The business’s fifty day moving average is $2,098.11 and its 200 day moving average is $2,291.42. MercadoLibre has a 12-month low of $1,646.00 and a 12-month high of $2,645.22. The company has a quick ratio of 1.15, a current ratio of 1.17 and a debt-to-equity ratio of 0.55. The stock has a market cap of $101.28 billion, a P/E ratio of 48.75, a P/E/G ratio of 1.48 and a beta of 1.42.

MercadoLibre (NASDAQ:MELI – Get Free Report) last released its quarterly earnings data on Wednesday, October 29th. The company reported $8.32 earnings per share for the quarter, missing the consensus estimate of $9.88 by ($1.56). MercadoLibre had a return on equity of 39.03% and a net margin of 7.93%.The business had revenue of $7.41 billion for the quarter, compared to analyst estimates of $7.19 billion. During the same quarter in the previous year, the company posted $7.83 EPS. The business’s quarterly revenue was up 39.5% on a year-over-year basis. Sell-side analysts anticipate that MercadoLibre will post 43.96 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Stelleo Tolda sold 246 shares of MercadoLibre stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $2,047.88, for a total value of $503,778.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Emiliano Calemzuk sold 45 shares of the business’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $2,027.37, for a total value of $91,231.65. Following the completion of the sale, the director owned 257 shares in the company, valued at $521,034.09. This represents a 14.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 1,136 shares of company stock valued at $2,308,788 over the last ninety days. 0.25% of the stock is currently owned by insiders.

Hedge Funds Weigh In On MercadoLibre

Several large investors have recently modified their holdings of the business. Lavaca Capital LLC boosted its holdings in MercadoLibre by 140,201.3% in the 2nd quarter. Lavaca Capital LLC now owns 1,066,290 shares of the company’s stock worth $2,786,888,000 after buying an additional 1,065,530 shares during the period. Norges Bank purchased a new stake in shares of MercadoLibre during the second quarter worth $698,848,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in shares of MercadoLibre by 304.7% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 255,103 shares of the company’s stock worth $666,744,000 after acquiring an additional 192,071 shares during the period. Flossbach Von Storch SE grew its position in shares of MercadoLibre by 1,669.4% in the third quarter. Flossbach Von Storch SE now owns 181,719 shares of the company’s stock valued at $424,666,000 after purchasing an additional 171,449 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in shares of MercadoLibre by 28.4% in the third quarter. Wellington Management Group LLP now owns 493,770 shares of the company’s stock valued at $1,153,911,000 after purchasing an additional 109,228 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

About MercadoLibre

(Get Free Report)

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.

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