MercadoLibre, Inc. (NASDAQ:MELI) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of MercadoLibre, Inc. (NASDAQ:MELI) have been given a consensus rating of “Moderate Buy” by the twelve analysts that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $1,881.92.

A number of brokerages have issued reports on MELI. UBS Group reduced their price objective on shares of MercadoLibre from $1,900.00 to $1,800.00 and set a “buy” rating on the stock in a research note on Wednesday, April 17th. Citigroup lowered their price target on shares of MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating for the company in a report on Wednesday, March 27th. Wedbush restated an “outperform” rating and set a $1,800.00 price target on shares of MercadoLibre in a report on Friday, May 3rd. DZ Bank upgraded shares of MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 price objective for the company in a research note on Tuesday, April 23rd. Finally, Barclays lifted their price target on shares of MercadoLibre from $1,800.00 to $2,000.00 and gave the company an “overweight” rating in a research report on Monday, May 13th.

MercadoLibre Stock Up 2.2 %

MercadoLibre stock opened at $1,678.96 on Thursday. MercadoLibre has a twelve month low of $1,063.02 and a twelve month high of $1,825.00. The company has a 50 day moving average of $1,599.58 and a 200-day moving average of $1,606.26. The stock has a market capitalization of $85.12 billion, a PE ratio of 75.12, a price-to-earnings-growth ratio of 1.20 and a beta of 1.60. The company has a quick ratio of 1.25, a current ratio of 1.27 and a debt-to-equity ratio of 0.66.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $6.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.64 by $0.14. The firm had revenue of $4.33 billion for the quarter, compared to analyst estimates of $3.84 billion. MercadoLibre had a net margin of 7.17% and a return on equity of 39.46%. The company’s quarterly revenue was up 36.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.97 earnings per share. On average, equities research analysts anticipate that MercadoLibre will post 33.81 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Cypress Asset Management Inc. TX increased its position in shares of MercadoLibre by 4.0% during the 1st quarter. Cypress Asset Management Inc. TX now owns 3,952 shares of the company’s stock valued at $5,989,000 after purchasing an additional 153 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of MercadoLibre by 31.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 54 shares of the company’s stock worth $79,000 after purchasing an additional 13 shares during the last quarter. Spear Holdings RSC Ltd purchased a new stake in MercadoLibre in the first quarter valued at about $29,030,000. Cetera Advisors LLC increased its holdings in shares of MercadoLibre by 107.3% in the first quarter. Cetera Advisors LLC now owns 1,988 shares of the company’s stock valued at $3,006,000 after purchasing an additional 1,029 shares during the period. Finally, Cetera Investment Advisers increased its holdings in shares of MercadoLibre by 290.7% in the first quarter. Cetera Investment Advisers now owns 5,771 shares of the company’s stock valued at $8,726,000 after purchasing an additional 4,294 shares during the period. 87.62% of the stock is owned by hedge funds and other 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.