MercadoLibre, Inc. (NASDAQ:MELI) Given Average Recommendation of “Buy” by Analysts

Shares of MercadoLibre, Inc. (NASDAQ:MELI) have received an average rating of “Buy” from the seventeen research firms that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $2,402.81.

MELI has been the subject of several research reports. Raymond James upgraded shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price objective for the company in a research note on Tuesday, January 21st. Barclays increased their price target on MercadoLibre from $2,200.00 to $2,500.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Cantor Fitzgerald boosted their price objective on MercadoLibre from $2,150.00 to $3,000.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. The Goldman Sachs Group increased their target price on MercadoLibre from $2,400.00 to $2,750.00 and gave the company a “buy” rating in a research note on Monday, March 3rd. Finally, Bank of America raised their target price on MercadoLibre from $2,500.00 to $3,000.00 and gave the company a “buy” rating in a report on Friday, February 21st.

Institutional Trading of MercadoLibre

A number of hedge funds have recently made changes to their positions in MELI. 1620 Investment Advisors Inc. boosted its stake in MercadoLibre by 2.5% during the 4th quarter. 1620 Investment Advisors Inc. now owns 203 shares of the company’s stock valued at $346,000 after acquiring an additional 5 shares during the last quarter. Texas Yale Capital Corp. raised its stake in shares of 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 purchasing an additional 5 shares in the last quarter. Meiji Yasuda Life Insurance Co lifted its position in shares of MercadoLibre by 0.5% during the fourth 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 during the last quarter. Formidable Asset Management LLC grew its stake in MercadoLibre by 3.2% in 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 in the last quarter. Finally, Revolve Wealth Partners LLC increased its holdings in MercadoLibre by 4.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 118 shares of the company’s stock valued at $201,000 after buying an additional 5 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Trading Down 2.3 %

Shares of MELI opened at $2,048.07 on Friday. The stock’s fifty day simple moving average is $2,028.39 and its 200 day simple moving average is $1,974.47. MercadoLibre has a twelve month low of $1,324.99 and a twelve month high of $2,374.54. 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 firm has a market capitalization of $103.83 billion, a P/E ratio of 54.33, a price-to-earnings-growth ratio of 1.12 and a beta of 1.64.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data on Thursday, February 20th. The company reported $12.61 EPS for the quarter, topping analysts’ consensus estimates of $10.21 by $2.40. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. The company had revenue of $6.06 billion for the quarter, compared to the consensus estimate of $5.94 billion. On average, equities research analysts forecast that MercadoLibre will post 43.96 earnings per share for the current year.

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.