MercadoLibre (NASDAQ:MELI) Stock Price Expected to Rise, Bank of America Analyst Says

MercadoLibre (NASDAQ:MELI) had its target price raised by Bank of America from $2,500.00 to $3,000.00 in a report released on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other brokerages have also recently commented on MELI. Morgan Stanley reduced their price target on MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Cantor Fitzgerald cut their price objective on MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. Citigroup lowered their target price on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating on the stock in a report on Tuesday, November 26th. BTIG Research cut their price target on shares of MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Finally, New Street Research upgraded shares of MercadoLibre from a “neutral” rating to a “buy” rating and increased their price target for the company from $2,000.00 to $2,300.00 in a research note on Thursday, January 30th. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $2,364.06.

MercadoLibre Trading Up 7.1 %

MELI opened at $2,260.00 on Friday. MercadoLibre has a twelve month low of $1,324.99 and a twelve month high of $2,374.54. The firm has a market cap of $114.58 billion, a PE ratio of 59.95, a price-to-earnings-growth ratio of 1.12 and a beta of 1.62. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. The firm’s fifty day moving average is $1,867.29 and its two-hundred day moving average is $1,958.01.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Thursday, February 20th. The company reported $12.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.21 by $2.40. The firm had revenue of $6.06 billion during the quarter, compared to analysts’ expectations of $5.94 billion. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. Equities research analysts anticipate that MercadoLibre will post 43.96 EPS for the current year.

Insider Activity

In other MercadoLibre news, Director Emiliano Calemzuk sold 50 shares of the firm’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $1,984.98, for a total value of $99,249.00. Following the sale, the director now owns 238 shares of the company’s stock, valued at $472,425.24. This trade represents a 17.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.06% of the company’s stock.

Hedge Funds Weigh In On MercadoLibre

A number of institutional investors have recently bought and sold shares of the stock. Human Investing LLC bought a new stake in shares of MercadoLibre during the fourth quarter valued at approximately $26,000. Pacific Capital Wealth Advisors Inc. boosted its holdings in shares of MercadoLibre by 220.0% during the 4th quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company’s stock valued at $27,000 after buying an additional 11 shares in the last quarter. Brown Lisle Cummings Inc. boosted its holdings in shares of MercadoLibre by 100.0% during the 4th quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company’s stock valued at $27,000 after buying an additional 8 shares in the last quarter. Covestor Ltd bought a new position in shares of MercadoLibre in the 4th quarter worth about $27,000. Finally, Heck Capital Advisors LLC bought a new position in shares of MercadoLibre in the 4th quarter worth about $32,000. 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.