BTIG Research Cuts MercadoLibre (NASDAQ:MELI) Price Target to $2,200.00

MercadoLibre (NASDAQ:MELI) had its price target decreased by stock analysts at BTIG Research from $2,250.00 to $2,200.00 in a report released on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. BTIG Research’s price objective would suggest a potential upside of 25.23% from the company’s current price.

A number of other research analysts have also recently commented on MELI. Susquehanna upped their target price on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a research report on Wednesday, August 28th. Bank of America boosted their price target on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. Dbs Bank upgraded MercadoLibre from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 11th. Barclays increased their price objective on shares of MercadoLibre from $2,100.00 to $2,500.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Finally, Citigroup raised their price target on shares of MercadoLibre from $2,200.00 to $2,480.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Three investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $2,309.67.

MercadoLibre Stock Down 17.0 %

MercadoLibre stock traded down $360.52 during mid-day trading on Thursday, reaching $1,756.78. The stock had a trading volume of 2,334,864 shares, compared to its average volume of 354,890. The company has a 50-day moving average price of $2,055.08 and a two-hundred day moving average price of $1,819.36. MercadoLibre has a one year low of $1,324.99 and a one year high of $2,161.73. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.28 and a quick ratio of 1.26. The company has a market capitalization of $89.07 billion, a price-to-earnings ratio of 63.63, a PEG ratio of 1.26 and a beta of 1.61.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Wednesday, November 6th. The company reported $7.83 EPS for the quarter, missing analysts’ consensus estimates of $11.27 by ($3.44). MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. The company had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $5.25 billion. On average, analysts expect that MercadoLibre will post 37.7 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Migdal Insurance & Financial Holdings Ltd. increased its stake in MercadoLibre by 1,600.0% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock worth $28,000 after purchasing an additional 16 shares during the period. Optimum Investment Advisors boosted its stake in shares of MercadoLibre by 750.0% during the 3rd quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock worth $35,000 after acquiring an additional 15 shares in the last quarter. Financial Connections Group Inc. purchased a new stake in shares of MercadoLibre during the second quarter worth approximately $36,000. Quarry LP acquired a new position in shares of MercadoLibre during the 2nd quarter worth approximately $43,000. Finally, NBC Securities Inc. raised its position in shares of MercadoLibre by 35.0% during the 3rd quarter. NBC Securities Inc. now owns 27 shares of the company’s stock valued at $55,000 after buying an additional 7 shares during the period. 87.62% of the stock is currently owned by institutional investors.

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.