MercadoLibre (NASDAQ:MELI) Rating Reiterated by Cantor Fitzgerald

MercadoLibre (NASDAQ:MELI)‘s stock had its “overweight” rating reissued by investment analysts at Cantor Fitzgerald in a research report issued to clients and investors on Monday, Benzinga reports. They currently have a $2,530.00 target price on the stock. Cantor Fitzgerald’s price objective suggests a potential upside of 19.45% from the company’s previous close.

Several other brokerages also recently weighed in on MELI. JPMorgan Chase & Co. boosted their price objective on shares of MercadoLibre from $2,150.00 to $2,400.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 6th. The Goldman Sachs Group raised their price objective on MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. BTIG Research boosted their target price on MercadoLibre from $2,025.00 to $2,250.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Morgan Stanley raised their price target on MercadoLibre from $2,175.00 to $2,500.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, StockNews.com cut MercadoLibre from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, MercadoLibre currently has a consensus rating of “Moderate Buy” and an average target price of $2,207.31.

MercadoLibre Stock Up 0.7 %

NASDAQ:MELI traded up $14.32 during trading hours on Monday, hitting $2,118.07. The company’s stock had a trading volume of 46,522 shares, compared to its average volume of 355,073. MercadoLibre has a 52-week low of $1,141.04 and a 52-week high of $2,157.64. The company has a current ratio of 1.28, a quick ratio of 1.26 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $107.38 billion, a P/E ratio of 94.77, a price-to-earnings-growth ratio of 1.33 and a beta of 1.61. The stock has a fifty day moving average of $1,899.17 and a 200-day moving average of $1,692.71.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data on Thursday, August 1st. The company reported $10.48 EPS for the quarter, beating 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 return on equity of 43.52% and a net margin of 8.03%. The business’s revenue for the quarter was up 41.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $5.16 EPS. On average, equities analysts forecast that MercadoLibre will post 35.22 earnings per share for the current year.

Institutional Investors Weigh In On MercadoLibre

Several hedge funds have recently modified their holdings of the stock. Gryphon Financial Partners LLC lifted its stake in shares of MercadoLibre by 40.9% in the 4th quarter. Gryphon Financial Partners LLC now owns 513 shares of the company’s stock worth $861,000 after acquiring an additional 149 shares during the period. Orion Portfolio Solutions LLC increased its position in MercadoLibre by 8.7% during the 4th quarter. Orion Portfolio Solutions LLC now owns 489 shares of the company’s stock worth $770,000 after purchasing an additional 39 shares during the period. Nations Financial Group Inc. IA ADV purchased a new position in shares of MercadoLibre during the 4th quarter worth approximately $627,000. Intech Investment Management LLC lifted its holdings in shares of MercadoLibre by 0.6% in the 4th quarter. Intech Investment Management LLC now owns 3,175 shares of the company’s stock valued at $4,990,000 after buying an additional 19 shares during the period. Finally, IPG Investment Advisors LLC boosted its stake in shares of MercadoLibre by 6.0% in the fourth quarter. IPG Investment Advisors LLC now owns 475 shares of the company’s stock valued at $746,000 after buying an additional 27 shares in the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

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.