MercadoLibre (NASDAQ:MELI) Rating Reiterated by Cantor Fitzgerald

MercadoLibre (NASDAQ:MELI)‘s stock had its “overweight” rating restated by stock analysts at Cantor Fitzgerald in a research report issued on Monday, Benzinga reports. They currently have a $2,530.00 price target on the stock. Cantor Fitzgerald’s target price would indicate a potential upside of 19.85% from the stock’s current price.

MELI has been the subject of several other research reports. Bank of America boosted their price target on MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a research note on Thursday, September 12th. Morgan Stanley boosted their target price on shares of MercadoLibre from $2,175.00 to $2,500.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. Barclays raised their price target on shares of MercadoLibre from $2,000.00 to $2,100.00 and gave the company an “overweight” rating in a report on Tuesday, August 6th. BTIG Research upped their price objective on shares of MercadoLibre from $2,025.00 to $2,250.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Finally, StockNews.com lowered MercadoLibre from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, MercadoLibre presently has an average rating of “Moderate Buy” and an average price target of $2,207.31.

MercadoLibre Stock Performance

Shares of MELI opened at $2,111.00 on Monday. The company has a market capitalization of $107.02 billion, a PE ratio of 94.45, a PEG ratio of 1.33 and a beta of 1.61. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.26 and a current ratio of 1.28. The company’s 50 day moving average price is $1,914.15 and its 200 day moving average price is $1,700.96. MercadoLibre has a 52 week low of $1,141.04 and a 52 week high of $2,157.64.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Thursday, August 1st. The company reported $10.48 earnings per share for the quarter, topping analysts’ consensus estimates of $8.53 by $1.95. The business had revenue of $5.07 billion for the quarter, compared to the consensus estimate of $4.64 billion. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. MercadoLibre’s revenue for the quarter was up 41.5% compared to the same quarter last year. During the same period in the prior year, the business posted $5.16 earnings per share. Research analysts expect that MercadoLibre will post 35.22 EPS for the current fiscal year.

Hedge Funds Weigh In On MercadoLibre

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of MercadoLibre by 71.0% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 34,192 shares of the company’s stock worth $56,191,000 after purchasing an additional 14,192 shares during the period. University of Texas Texas AM Investment Management Co. increased its stake in MercadoLibre by 211.8% during the second quarter. University of Texas Texas AM Investment Management Co. now owns 689 shares of the company’s stock valued at $1,132,000 after acquiring an additional 468 shares during the period. Sanctuary Advisors LLC acquired a new position in MercadoLibre in the 2nd quarter valued at approximately $3,855,000. Souders Financial Advisors bought a new stake in shares of MercadoLibre in the 2nd quarter worth approximately $204,000. Finally, New Century Financial Group LLC acquired a new stake in shares of MercadoLibre during the 2nd quarter worth approximately $220,000. 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.