MercadoLibre (NASDAQ:MELI) Given New $1,800.00 Price Target at UBS Group

MercadoLibre (NASDAQ:MELI) had its price objective dropped by analysts at UBS Group from $1,900.00 to $1,800.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. UBS Group’s price objective indicates a potential upside of 28.77% from the stock’s current price.

MELI has been the topic of a number of other reports. JPMorgan Chase & Co. raised their price target on shares of MercadoLibre from $2,000.00 to $2,150.00 and gave the company an “overweight” rating in a research report on Tuesday, February 27th. Barclays decreased their target price on shares of MercadoLibre from $2,000.00 to $1,800.00 and set an “overweight” rating on the stock in a report on Wednesday, April 3rd. StockNews.com lowered shares of MercadoLibre from a “buy” rating to a “hold” rating in a report on Thursday, February 29th. Susquehanna increased their price target on shares of MercadoLibre from $1,850.00 to $2,000.00 and gave the stock a “positive” rating in a report on Friday, February 23rd. Finally, Wedbush reaffirmed an “outperform” rating and issued a $2,000.00 price objective on shares of MercadoLibre in a research note on Tuesday, March 5th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, MercadoLibre presently has a consensus rating of “Moderate Buy” and an average price target of $1,813.85.

MercadoLibre Price Performance

MELI opened at $1,397.86 on Wednesday. The firm has a market capitalization of $70.87 billion, a PE ratio of 71.54, a P/E/G ratio of 0.90 and a beta of 1.44. MercadoLibre has a 52 week low of $1,063.02 and a 52 week high of $1,825.00. The company has a fifty day moving average price of $1,574.80 and a two-hundred day moving average price of $1,523.84. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.27.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Thursday, February 22nd. The company reported $3.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.66 by ($3.41). The business had revenue of $4.26 billion for the quarter, compared to analyst estimates of $4.14 billion. MercadoLibre had a return on equity of 39.07% and a net margin of 6.82%. The business’s revenue for the quarter was up 42.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.25 EPS. As a group, analysts anticipate that MercadoLibre will post 35.77 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Deltec Asset Management LLC lifted its position in shares of MercadoLibre by 14.9% during the 1st quarter. Deltec Asset Management LLC now owns 1,970 shares of the company’s stock valued at $2,979,000 after buying an additional 255 shares in the last quarter. River Street Advisors LLC lifted its position in shares of MercadoLibre by 80.7% during the 1st quarter. River Street Advisors LLC now owns 271 shares of the company’s stock valued at $410,000 after buying an additional 121 shares in the last quarter. Trivant Custom Portfolio Group LLC purchased a new position in MercadoLibre in the 1st quarter valued at $76,000. Griffin Asset Management Inc. lifted its holdings in MercadoLibre by 7.8% in the 1st quarter. Griffin Asset Management Inc. now owns 1,803 shares of the company’s stock valued at $2,726,000 after purchasing an additional 131 shares in the last quarter. Finally, Asio Capital LLC purchased a new position in MercadoLibre in the 1st quarter valued at $2,210,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

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.