MercadoLibre (NASDAQ:MELI) Stock Price Expected to Rise, Susquehanna Analyst Says

MercadoLibre (NASDAQ:MELI) had its price objective increased by Susquehanna from $2,350.00 to $2,760.00 in a report published on Friday,Benzinga reports. They currently have a positive rating on the stock.

Several other brokerages also recently issued reports on MELI. Barclays lifted their price objective on MercadoLibre from $2,200.00 to $2,500.00 and gave the company an “overweight” rating in a research report on Friday. Bank of America lifted their price objective on MercadoLibre from $2,500.00 to $3,000.00 and gave the company a “buy” rating in a research report on Friday. Morgan Stanley cut their price objective 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. BTIG Research cut their price objective on MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Finally, Citigroup cut their price objective on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a research report on Tuesday, November 26th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, MercadoLibre presently has an average rating of “Buy” and a consensus price target of $2,364.06.

MercadoLibre Price Performance

Shares of MELI stock opened at $2,260.00 on Friday. The stock’s fifty day simple moving average is $1,867.29 and its 200 day simple moving average is $1,958.01. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. The firm has a market cap of $114.58 billion, a price-to-earnings ratio of 59.95, a P/E/G ratio of 1.12 and a beta of 1.62. MercadoLibre has a one year low of $1,324.99 and a one year high of $2,374.54.

MercadoLibre (NASDAQ:MELI) last announced its quarterly 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. The business had revenue of $6.06 billion for the quarter, compared to analyst estimates of $5.94 billion. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. On average, analysts expect that MercadoLibre will post 43.96 earnings per share for the current fiscal year.

Insider Activity at MercadoLibre

In related news, Director Emiliano Calemzuk sold 50 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $1,984.98, for a total transaction of $99,249.00. Following the completion of the transaction, the director now directly owns 238 shares of the company’s stock, valued at approximately $472,425.24. This represents a 17.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.06% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Human Investing LLC bought a new stake in MercadoLibre in the fourth quarter valued at approximately $26,000. Pacific Capital Wealth Advisors Inc. raised its stake in MercadoLibre by 220.0% in the fourth 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 during the period. Brown Lisle Cummings Inc. raised its stake in MercadoLibre by 100.0% in the fourth quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company’s stock valued at $27,000 after buying an additional 8 shares during the period. Covestor Ltd bought a new stake in MercadoLibre in the fourth quarter valued at approximately $27,000. Finally, Heck Capital Advisors LLC bought a new stake in MercadoLibre in the fourth quarter valued at approximately $32,000. 87.62% of the stock is owned by institutional investors and hedge funds.

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.