MercadoLibre (NASDAQ:MELI) Given New $3,000.00 Price Target at Cantor Fitzgerald

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

MELI has been the topic of several other research reports. Barclays upped their price objective on MercadoLibre from $2,200.00 to $2,500.00 and gave the company an “overweight” rating in a research note on Friday. Susquehanna increased their price target on MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a “positive” rating in a research note on Friday. JPMorgan Chase & Co. decreased their price objective on MercadoLibre from $2,150.00 to $1,950.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. BTIG Research dropped their price objective on shares of MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Finally, Morgan Stanley reduced their target price on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $2,364.06.

MercadoLibre Trading Up 7.1 %

NASDAQ MELI opened at $2,260.00 on Friday. The business’s fifty day moving average is $1,867.29 and its 200-day moving average is $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. The stock has a market capitalization of $114.58 billion, a price-to-earnings ratio of 79.75, a PEG ratio of 1.10 and a beta of 1.62. MercadoLibre has a one year low of $1,324.99 and a one year high of $2,374.54.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Thursday, February 20th. The company reported $12.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.21 by $2.40. MercadoLibre had a net margin of 7.57% and a return on equity of 40.71%. The business had revenue of $6.06 billion during the quarter, compared to the consensus estimate of $5.94 billion. Equities research analysts predict that MercadoLibre will post 32.98 EPS for the current year.

Insider Buying and Selling

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

Institutional Trading of MercadoLibre

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Capital Research Global Investors raised its position in MercadoLibre by 8.0% during the fourth quarter. Capital Research Global Investors now owns 2,415,815 shares of the company’s stock valued at $4,108,079,000 after purchasing an additional 179,807 shares in the last quarter. Jennison Associates LLC raised its holdings in shares of MercadoLibre by 3.9% during the 3rd quarter. Jennison Associates LLC now owns 1,873,919 shares of the company’s stock valued at $3,845,207,000 after buying an additional 70,154 shares in the last quarter. Capital International Investors lifted its position in MercadoLibre by 38.7% in the 4th quarter. Capital International Investors now owns 1,687,114 shares of the company’s stock worth $2,868,869,000 after buying an additional 470,829 shares during the last quarter. Capital World Investors boosted its stake in MercadoLibre by 24.5% in the fourth quarter. Capital World Investors now owns 1,568,602 shares of the company’s stock worth $2,667,386,000 after buying an additional 308,973 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in MercadoLibre by 41.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,394,255 shares of the company’s stock worth $2,370,848,000 after buying an additional 405,425 shares in the last quarter. 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.