Cantor Fitzgerald Reiterates “Overweight” Rating for MercadoLibre (NASDAQ:MELI)

by · The Markets Daily

MercadoLibre (NASDAQ:MELI – Get Free Report)‘s stock had its “overweight” rating restated by Cantor Fitzgerald in a research report issued on Monday, Benzinga reports. They presently have a $2,530.00 target price on the stock. Cantor Fitzgerald’s target price points to a potential upside of 25.61% from the company’s current price.

MELI has been the topic of a number of other research reports. Raymond James assumed coverage on MercadoLibre in a report on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 target price on the stock. Susquehanna increased their target price on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a research report on Wednesday, August 28th. Citigroup boosted their price target on shares of MercadoLibre from $2,000.00 to $2,200.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Bank of America increased their price objective on MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a report on Thursday, September 12th. Finally, Morgan Stanley boosted their target price on MercadoLibre from $2,175.00 to $2,500.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $2,246.07.

View Our Latest Analysis on MercadoLibre

MercadoLibre Trading Up 2.6 %

MercadoLibre stock opened at $2,014.23 on Monday. MercadoLibre has a 52 week low of $1,141.04 and a 52 week high of $2,161.73. 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 firm has a market capitalization of $102.12 billion, a price-to-earnings ratio of 89.42, a P/E/G ratio of 1.34 and a beta of 1.61. The company has a 50 day moving average price of $1,982.23 and a 200 day moving average price of $1,732.30.

MercadoLibre (NASDAQ:MELI – Get Free Report) last issued its earnings results on Thursday, August 1st. The company reported $10.48 EPS for the quarter, topping the consensus estimate of $8.53 by $1.95. The business had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $4.64 billion. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. MercadoLibre’s revenue was up 41.5% compared to the same quarter last year. During the same quarter last year, the firm posted $5.16 earnings per share. Research analysts forecast that MercadoLibre will post 35.79 EPS for the current year.

Institutional Trading of MercadoLibre

Several large investors have recently modified their holdings of the company. GQG Partners LLC boosted its stake in MercadoLibre by 442.2% during the 1st quarter. GQG Partners LLC now owns 794,782 shares of the company’s stock valued at $1,201,679,000 after purchasing an additional 648,198 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of MercadoLibre by 43.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company’s stock worth $1,167,073,000 after acquiring an additional 232,787 shares during the last quarter. Strategic Financial Concepts LLC bought a new position in MercadoLibre during the second quarter worth $2,913,000. Janus Henderson Group PLC raised its stake in MercadoLibre by 55.8% during the 1st quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock valued at $557,225,000 after purchasing an additional 132,028 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in MercadoLibre by 1,432.2% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 127,355 shares of the company’s stock valued at $200,140,000 after purchasing an additional 119,043 shares during the period. 87.62% of the stock is owned by institutional investors.

About MercadoLibre

(Get Free Report)

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.

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