MercadoLibre (NASDAQ:MELI) Stock Rating Upgraded by DZ Bank

MercadoLibre (NASDAQ:MELI) was upgraded by stock analysts at DZ Bank from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday, MarketBeat.com reports. The firm currently has a $1,685.00 target price on the stock. DZ Bank’s target price points to a potential upside of 22.99% from the company’s current price.

Several other research firms also recently issued reports on MELI. Susquehanna raised their price target on shares of MercadoLibre from $1,850.00 to $2,000.00 and gave the company a “positive” rating in a research note on Friday, February 23rd. JPMorgan Chase & Co. raised their price target on shares of MercadoLibre from $2,000.00 to $2,150.00 and gave the company an “overweight” rating in a research note on Tuesday, February 27th. Barclays dropped their price target on shares of MercadoLibre from $2,000.00 to $1,800.00 and set an “overweight” rating for the company in a research note on Wednesday, April 3rd. StockNews.com cut shares of MercadoLibre from a “buy” rating to a “hold” rating in a research report on Thursday, February 29th. Finally, Wedbush reiterated an “outperform” rating and set a $2,000.00 price objective on shares of MercadoLibre in a research report on Tuesday, March 5th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,790.36.

MercadoLibre Price Performance

Shares of NASDAQ:MELI opened at $1,370.00 on Tuesday. The company has a market cap of $69.46 billion, a price-to-earnings ratio of 70.11, a PEG ratio of 0.88 and a beta of 1.44. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.27 and a quick ratio of 1.24. The firm has a 50 day simple moving average of $1,538.78 and a 200 day simple moving average of $1,528.66. MercadoLibre has a one year low of $1,063.02 and a one year high of $1,825.00.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Thursday, February 22nd. The company reported $3.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.66 by ($3.41). The business had revenue of $4.26 billion for the quarter, compared to the consensus estimate of $4.14 billion. MercadoLibre had a net margin of 6.82% and a return on equity of 39.07%. MercadoLibre’s revenue was up 42.0% on a year-over-year basis. During the same period in the previous year, the business posted $3.25 EPS. Research analysts predict that MercadoLibre will post 35.77 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MercadoLibre

Several hedge funds and other institutional investors have recently made changes to their positions in MELI. IFP Advisors Inc increased its position in shares of MercadoLibre by 19.3% during the third quarter. IFP Advisors Inc now owns 216 shares of the company’s stock worth $274,000 after acquiring an additional 35 shares in the last quarter. Impact Partnership Wealth LLC increased its position in shares of MercadoLibre by 118.8% during the third quarter. Impact Partnership Wealth LLC now owns 35 shares of the company’s stock worth $44,000 after acquiring an additional 19 shares in the last quarter. Cedar Brook Financial Partners LLC increased its position in shares of MercadoLibre by 33.1% during the third quarter. Cedar Brook Financial Partners LLC now owns 225 shares of the company’s stock worth $285,000 after acquiring an additional 56 shares in the last quarter. Exchange Traded Concepts LLC boosted its holdings in MercadoLibre by 19.9% during the third quarter. Exchange Traded Concepts LLC now owns 2,912 shares of the company’s stock worth $3,692,000 after purchasing an additional 484 shares during the last quarter. Finally, Spectrum Asset Management Inc. NB CA purchased a new position in MercadoLibre during the third quarter worth about $293,000. 87.62% of the stock is owned by institutional investors.

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.