MercadoLibre (NASDAQ:MELI) Given “Overweight” Rating at Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of MercadoLibre (NASDAQ:MELI) in a research report released on Monday morning, Benzinga reports. They currently have a $2,530.00 price objective on the stock.

A number of other research firms have also issued reports on MELI. The Goldman Sachs Group lifted their target price on MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a buy rating in a report on Thursday, August 8th. Bank of America lifted their target price on MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a buy rating in a report on Thursday, September 12th. Barclays lifted their target price on MercadoLibre from $2,100.00 to $2,500.00 and gave the stock an overweight rating in a report on Wednesday, October 2nd. JPMorgan Chase & Co. lowered MercadoLibre from an overweight rating to a neutral rating and set a $2,400.00 target price on the stock. in a report on Wednesday, October 2nd. Finally, Citigroup lifted their price target on MercadoLibre from $2,000.00 to $2,200.00 and gave the stock a buy rating in a research note on Thursday, August 15th. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $2,246.07.

MercadoLibre Price Performance

Shares of NASDAQ MELI opened at $2,040.50 on Monday. MercadoLibre has a fifty-two week low of $1,141.04 and a fifty-two week high of $2,161.73. The firm’s 50-day simple moving average is $1,997.57 and its 200 day simple moving average is $1,737.60. The company has a quick ratio of 1.26, a current ratio of 1.28 and a debt-to-equity ratio of 0.67. The stock has a market cap of $103.45 billion, a P/E ratio of 73.74, a P/E/G ratio of 1.25 and a beta of 1.61.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data on Thursday, August 1st. The company reported $10.48 earnings per share for the quarter, beating analysts’ consensus estimates of $8.53 by $1.95. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. The business had revenue of $5.07 billion for the quarter, compared to analysts’ expectations of $4.64 billion. During the same period in the previous year, the business earned $5.16 earnings per share. The company’s revenue was up 41.5% on a year-over-year basis. Equities analysts expect that MercadoLibre will post 37.55 EPS for the current year.

Institutional Investors Weigh In On MercadoLibre

Several institutional investors have recently made changes to their positions in the company. Annex Advisory Services LLC lifted its holdings in MercadoLibre by 11.5% in the 3rd quarter. Annex Advisory Services LLC now owns 10,795 shares of the company’s stock worth $22,151,000 after purchasing an additional 1,116 shares during the last quarter. Inspire Investing LLC acquired a new stake in MercadoLibre in the 3rd quarter worth approximately $835,000. CRA Financial Services LLC acquired a new stake in MercadoLibre in the 3rd quarter worth approximately $201,000. Ritholtz Wealth Management lifted its holdings in MercadoLibre by 59.5% in the 3rd quarter. Ritholtz Wealth Management now owns 201 shares of the company’s stock worth $412,000 after purchasing an additional 75 shares during the last quarter. Finally, Asio Capital LLC lifted its holdings in MercadoLibre by 4.9% in the 3rd quarter. Asio Capital LLC now owns 1,640 shares of the company’s stock worth $3,365,000 after purchasing an additional 77 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

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.