MercadoLibre (NASDAQ:MELI) Given New $1,600.00 Price Target at UBS Group

MercadoLibre (NASDAQ:MELI) had its target price cut by UBS Group from $1,750.00 to $1,600.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have a neutral rating on the stock.

MELI has been the subject of several other reports. Cantor Fitzgerald cut their target price on shares of MercadoLibre from $2,200.00 to $2,000.00 and set an “overweight” rating for the company in a research report on Thursday, November 5th. Raymond James Financial reiterated a “strong-buy” rating on shares of MercadoLibre in a research report on Thursday, November 5th. New Street Research assumed coverage on shares of MercadoLibre in a research note on Wednesday, September 23rd. They set a “buy” rating and a $2,450.00 price target on the stock. BTIG Research cut their price objective on shares of MercadoLibre from $2,150.00 to $2,050.00 and set a “buy” rating for the company in a research report on Thursday, November 5th. Finally, Citigroup upgraded MercadoLibre from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $2,100.00 to $2,050.00 in a research note on Tuesday, October 27th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, MercadoLibre presently has a consensus rating of “Moderate Buy” and an average price target of $2,170.62.

MercadoLibre Stock Performance

Shares of MercadoLibre stock opened at $1,512.02 on Wednesday. The firm’s 50-day moving average is $1,781.38 and its 200 day moving average is $1,795.48. MercadoLibre has a 1 year low of $1,465.06 and a 1 year high of $2,342.00. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.17 and a quick ratio of 1.10. The stock has a market cap of $76.66 billion, a price-to-earnings ratio of 39.97, a PEG ratio of 1.07 and a beta of 1.42.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data on Wednesday, November 4th. The company reported $8.83 earnings per share for the quarter, missing analysts’ consensus estimates of $9.27 by ($0.44). The company had revenue of $10.75 billion for the quarter, compared to the consensus estimate of $10.69 billion. MercadoLibre had a net margin of 4.91% and a return on equity of 25.15%. The firm’s revenue for the quarter was up 45.1% on a year-over-year basis. During the same quarter last year, the company earned $8.32 EPS. Sell-side analysts anticipate that MercadoLibre will post 37.44 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Aberdeen Group plc boosted its stake in MercadoLibre by 6,304.8% in the 3rd quarter. Aberdeen Group plc now owns 2,473,606 shares of the company’s stock worth $4,275,702,000 after purchasing an additional 2,434,985 shares during the period. BlackRock Inc. purchased a new stake in MercadoLibre during the 2nd quarter valued at approximately $2,246,015,000. Janus Henderson Group PLC grew its holdings in MercadoLibre by 1.7% during the 1st quarter. Janus Henderson Group PLC now owns 614,238 shares of the company’s stock valued at $1,062,019,000 after buying an additional 10,142 shares in the last quarter. Linonia Partnership LP grew its holdings in MercadoLibre by 325.1% during the 2nd quarter. Linonia Partnership LP now owns 553,788 shares of the company’s stock valued at $939,994,000 after buying an additional 423,527 shares in the last quarter. Finally, Jupiter Topco LLC bought a new stake in shares of MercadoLibre during the second quarter valued at approximately $917,123,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Recent MercadoLibre Headlines

These are some of the MELI headlines that stood out recently:

• Positive Sentiment: MercadoLibre continues to show strong commerce and fintech growth. Third-quarter revenue rose 45% year over year to $10.75 billion, supporting the longer-term growth case. Article: MercadoLibre Declines 11.9% Since Q3 Earnings
• Negative Sentiment: Profitability concerns are weighing on sentiment: Q3 EPS of $8.83 missed the $9.27 consensus, and heavy investment spending and margin pressure have overshadowed revenue growth. Article: MercadoLibre Declines 11.9% Since Q3 Earnings
• Negative Sentiment: UBS cut its price target from $1,750 to $1,600 and assigned a neutral rating, signaling reduced confidence in near-term upside. UBS Group recommendations JPMorgan also cut its target, adding to analyst caution. Article: JPMorgan Cuts MercadoLibre Price Target

About MercadoLibre

MercadoLibre, Inc. operates an online commerce and financial technology platform focused on Latin America. Founded in Argentina in 1999, the company connects buyers and sellers through its marketplace, where businesses and individuals can list and purchase a wide range of products. The company’s services also include Mercado Pago, which offers digital payment and financial services for transactions on and off its marketplace. MercadoLibre supports commerce with services such as Mercado Envíos, its shipping and logistics platform, and provides advertising tools for merchants and brands.