Morgan Stanley Increases MercadoLibre (NASDAQ:MELI) Price Target to $2,500.00

MercadoLibre (NASDAQ:MELI) had its price target raised by Morgan Stanley from $2,175.00 to $2,500.00 in a research report issued on Friday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Morgan Stanley’s price objective suggests a potential upside of 18.52% from the stock’s current price.

MELI has been the subject of a number of other reports. Cantor Fitzgerald started coverage on shares of MercadoLibre in a report on Thursday, September 5th. They set an “overweight” rating and a $2,530.00 price objective for the company. Bank of America raised their target price on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a research note on Thursday, September 12th. New Street Research cut shares of MercadoLibre from a “buy” rating to a “neutral” rating in a research note on Friday, May 24th. StockNews.com lowered MercadoLibre from a “buy” rating to a “hold” rating in a research report on Saturday, August 10th. Finally, Citigroup lifted their target price on MercadoLibre from $2,000.00 to $2,200.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $2,207.31.

MercadoLibre Stock Up 0.3 %

MELI opened at $2,109.40 on Friday. The stock has a market cap of $106.94 billion, a price-to-earnings ratio of 94.38, a price-to-earnings-growth ratio of 1.33 and a beta of 1.61. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.26 and a current ratio of 1.28. The firm’s fifty day moving average is $1,892.32 and its 200 day moving average is $1,686.62. MercadoLibre has a fifty-two week low of $1,141.04 and a fifty-two week high of $2,157.64.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Thursday, August 1st. The company reported $10.48 EPS for the quarter, beating the consensus estimate of $8.53 by $1.95. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. The business had revenue of $5.07 billion for the quarter, compared to the consensus estimate of $4.64 billion. During the same period in the previous year, the business earned $5.16 earnings per share. The business’s revenue was up 41.5% on a year-over-year basis. On average, sell-side analysts forecast that MercadoLibre will post 35.22 earnings per share for the current fiscal year.

Institutional Trading of MercadoLibre

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Migdal Insurance & Financial Holdings Ltd. increased its position in MercadoLibre by 1,600.0% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock valued at $28,000 after acquiring an additional 16 shares during the last quarter. First PREMIER Bank bought a new position in MercadoLibre during the 1st quarter valued at about $27,000. Financial Connections Group Inc. bought a new position in MercadoLibre during the 2nd quarter valued at about $36,000. DSM Capital Partners LLC purchased a new stake in MercadoLibre in the 4th quarter worth about $36,000. Finally, Scarborough Advisors LLC bought a new stake in MercadoLibre in the fourth quarter worth about $36,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

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.