MercadoLibre (NASDAQ:MELI) Price Target Raised to $3,000.00 at Cantor Fitzgerald

MercadoLibre (NASDAQ:MELI) had its target price hoisted by Cantor Fitzgerald from $2,150.00 to $3,000.00 in a research report released on Friday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities research analysts have also issued reports on the stock. Morgan Stanley cut their price target on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. Raymond James upgraded MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price target on the stock in a report on Tuesday, January 21st. Susquehanna increased their price objective on MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a “positive” rating in a report on Friday. New Street Research upgraded MercadoLibre from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $2,000.00 to $2,300.00 in a research report on Thursday, January 30th. Finally, Citigroup decreased their target price on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a report on Tuesday, November 26th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $2,364.06.

MercadoLibre Trading Up 7.1 %

Shares of MELI stock opened at $2,260.00 on Friday. The business has a 50-day moving average of $1,867.29 and a 200 day moving average of $1,956.30. 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 has a 1-year low of $1,324.99 and a 1-year high of $2,374.54. The stock has a market capitalization of $114.58 billion, a PE ratio of 79.75, a P/E/G ratio of 1.10 and a beta of 1.62.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data on Thursday, February 20th. The company reported $12.61 earnings per share for the quarter, beating analysts’ consensus estimates of $10.21 by $2.40. MercadoLibre had a return on equity of 40.71% and a net margin of 7.57%. The firm had revenue of $6.06 billion during the quarter, compared to analyst estimates of $5.94 billion. As a group, sell-side analysts anticipate that MercadoLibre will post 32.98 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Emiliano Calemzuk sold 50 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $1,984.98, for a total value of $99,249.00. Following the sale, the director now owns 238 shares in the company, valued at $472,425.24. This represents a 17.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.06% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Human Investing LLC bought a new position in shares of MercadoLibre during the fourth quarter valued at $26,000. Pacific Capital Wealth Advisors Inc. grew its position in MercadoLibre by 220.0% during the 4th quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company’s stock valued at $27,000 after purchasing an additional 11 shares during the last quarter. Brown Lisle Cummings Inc. increased its stake in MercadoLibre by 100.0% during the 4th quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company’s stock valued at $27,000 after purchasing an additional 8 shares in the last quarter. Covestor Ltd purchased a new position in MercadoLibre in the fourth quarter worth about $27,000. Finally, Heck Capital Advisors LLC bought a new position in shares of MercadoLibre in the fourth quarter worth approximately $32,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

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.