Cantor Fitzgerald Has Lowered Expectations for MercadoLibre (NASDAQ:MELI) Stock Price

MercadoLibre (NASDAQ:MELI - Get Free Report) had its target price lowered by equities researchers at Cantor Fitzgerald from $3,000.00 to $2,400.00 in a research report issued on Wednesday, Marketbeat Ratings reports. The firm currently has an "overweight" rating on the stock. Cantor Fitzgerald's price target suggests a potential upside of 16.71% from the stock's current price. Cantor Fitzgerald also issued estimates for MercadoLibre's FY2025 earnings at $46.58 EPS.

MELI has been the subject of several other research reports. The Goldman Sachs Group upped their target price on shares of MercadoLibre from $2,400.00 to $2,750.00 and gave the company a "buy" rating in a research note on Monday, March 3rd. Citigroup reissued a "buy" rating on shares of MercadoLibre in a research report on Tuesday, April 15th. Raymond James upgraded MercadoLibre from an "outperform" rating to a "strong-buy" rating and set a $2,250.00 target price for the company in a report on Tuesday, January 21st. Susquehanna increased their price objective on MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a "positive" rating in a report on Friday, February 21st. Finally, JPMorgan Chase & Co. boosted their target price on MercadoLibre from $1,950.00 to $2,300.00 and gave the company a "neutral" rating in a research note on Tuesday, February 25th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, MercadoLibre currently has an average rating of "Buy" and a consensus price target of $2,415.94.

MercadoLibre Price Performance

NASDAQ MELI traded down $42.94 on Wednesday, hitting $2,056.43. 226,809 shares of the company were exchanged, compared to its average volume of 385,876. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. The company has a market cap of $104.25 billion, a P/E ratio of 54.55, a P/E/G ratio of 1.12 and a beta of 1.62. The firm has a 50 day moving average of $2,043.29 and a two-hundred day moving average of $1,960.06. MercadoLibre has a 1-year low of $1,324.99 and a 1-year high of $2,374.54.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its earnings results on Thursday, February 20th. The company reported $12.61 EPS for the quarter, beating the consensus estimate of $10.21 by $2.40. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The company had revenue of $6.06 billion during the quarter, compared to analysts' expectations of $5.94 billion. On average, equities analysts predict that MercadoLibre will post 43.96 EPS for the current year.

Institutional Investors Weigh In On MercadoLibre

A number of institutional investors have recently modified their holdings of MELI. 1620 Investment Advisors Inc. grew its position in shares of MercadoLibre by 2.5% during the 4th quarter. 1620 Investment Advisors Inc. now owns 203 shares of the company's stock worth $346,000 after purchasing an additional 5 shares in the last quarter. Texas Yale Capital Corp. raised its holdings in MercadoLibre by 0.3% in the 4th quarter. Texas Yale Capital Corp. now owns 1,634 shares of the company's stock valued at $2,779,000 after acquiring an additional 5 shares in the last quarter. Meiji Yasuda Life Insurance Co grew its holdings in shares of MercadoLibre by 0.5% during the 4th quarter. Meiji Yasuda Life Insurance Co now owns 999 shares of the company's stock worth $1,699,000 after purchasing an additional 5 shares in the last quarter. Formidable Asset Management LLC lifted its position in MercadoLibre by 3.2% during the fourth quarter. Formidable Asset Management LLC now owns 160 shares of the company's stock worth $272,000 after purchasing an additional 5 shares during the period. Finally, Revolve Wealth Partners LLC boosted its position in shares of MercadoLibre by 4.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 118 shares of the company's stock worth $201,000 after acquiring an additional 5 shares in the last quarter. Institutional investors own 87.62% of the company's stock.

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.