MercadoLibre (NASDAQ:MELI) Stock Gets Price Target Cut from UBS Group

MercadoLibre (NASDAQ:MELI) had its target price decreased by research analysts at UBS Group from $1,750.00 to $1,600.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. UBS Group‘s price objective indicates a potential upside of 5.87% from the company’s previous close.

Several other analysts also recently issued reports on MELI. JPMorgan Chase & Co. cut their target price on shares of MercadoLibre from $2,150.00 to $1,850.00 and set a “neutral” rating on the stock in a research note on Monday. Cantor Fitzgerald decreased their target price on 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 report on Thursday, November 5th. Citigroup raised MercadoLibre from a “neutral” rating to a “buy” rating and dropped their price target for the company from $2,100.00 to $2,050.00 in a research report on Tuesday, October 27th. Finally, Scotiabank reduced their price objective on MercadoLibre from $2,800.00 to $2,300.00 and set a “sector outperform” rating for the company in a research note on Thursday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $2,170.62.

MercadoLibre Trading Up 1.4%

Shares of NASDAQ:MELI traded up $21.00 during mid-day trading on Wednesday, hitting $1,511.24. The stock had a trading volume of 476,887 shares, compared to its average volume of 553,578. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.10 and a current ratio of 1.17. The company has a market cap of $76.62 billion, a PE ratio of 40.54, a P/E/G ratio of 1.08 and a beta of 1.42. MercadoLibre has a 12-month low of $1,465.06 and a 12-month high of $2,342.00. The company’s 50 day moving average is $1,790.41 and its 200-day moving average is $1,798.61.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Wednesday, November 4th. The company reported $8.83 EPS for the quarter, missing analysts’ consensus estimates of $9.27 by ($0.44). MercadoLibre had a return on equity of 25.15% and a net margin of 4.91%. The firm had revenue of $10.75 billion during the quarter, compared to analyst estimates of $10.69 billion. During the same period in the prior year, the business posted $8.32 EPS. The company’s revenue for the quarter was up 45.1% on a year-over-year basis. On average, sell-side analysts predict that MercadoLibre will post 37.88 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in MELI. Advisors Asset Management Inc. purchased a new stake in MercadoLibre in the 3rd quarter worth approximately $7,227,000. Private Wealth Asset Management LLC increased its stake in shares of MercadoLibre by 72.0% in the third quarter. Private Wealth Asset Management LLC now owns 172 shares of the company’s stock worth $297,000 after acquiring an additional 72 shares during the last quarter. Private Advisor Group LLC increased its stake in shares of MercadoLibre by 23.5% in the third quarter. Private Advisor Group LLC now owns 3,451 shares of the company’s stock worth $5,965,000 after acquiring an additional 656 shares during the last quarter. Ieq Capital LLC increased its stake in shares of MercadoLibre by 104.1% in the third quarter. Ieq Capital LLC now owns 2,833 shares of the company’s stock worth $4,896,000 after acquiring an additional 1,445 shares during the last quarter. Finally, Focus Advisor Solutions LLC purchased a new stake in shares of MercadoLibre during the third quarter worth $807,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

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.