MercadoLibre (NASDAQ:MELI) Price Target Raised to $2,500.00

MercadoLibre (NASDAQ:MELI) had its price objective hoisted by Barclays from $2,200.00 to $2,500.00 in a report published on Friday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

MELI has been the subject of several other reports. New Street Research upgraded MercadoLibre from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $2,000.00 to $2,300.00 in a research report on Thursday, January 30th. Cantor Fitzgerald reduced their price objective on MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating on the stock in a research report on Thursday, November 7th. Citigroup dropped 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. Raymond James upgraded shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 target price on the stock in a report on Tuesday, January 21st. Finally, Morgan Stanley lowered their price target on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating for the company in a report on Monday, November 11th. Two 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 currently has an average rating of “Buy” and a consensus target price of $2,364.06.

MercadoLibre Stock Up 7.1 %

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

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

Insider Transactions at MercadoLibre

In other news, Director Emiliano Calemzuk sold 50 shares of the business’s stock in a transaction dated 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 sale, the director now owns 238 shares in the company, valued at approximately $472,425.24. The trade was a 17.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.06% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of MELI. Capital International Investors increased its holdings in MercadoLibre by 38.7% in the 4th quarter. Capital International Investors now owns 1,687,114 shares of the company’s stock valued at $2,868,869,000 after purchasing an additional 470,829 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of MercadoLibre by 41.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,394,255 shares of the company’s stock worth $2,370,848,000 after purchasing an additional 405,425 shares in the last quarter. Wealthfront Advisers LLC purchased a new stake in shares of MercadoLibre in the fourth quarter worth about $565,306,000. Capital World Investors grew its stake in shares of MercadoLibre by 24.5% in the fourth quarter. Capital World Investors now owns 1,568,602 shares of the company’s stock valued at $2,667,386,000 after buying an additional 308,973 shares in the last quarter. Finally, International Assets Investment Management LLC raised its holdings in shares of MercadoLibre by 205,108.3% during the 3rd quarter. International Assets Investment Management LLC now owns 248,302 shares of the company’s stock valued at $509,506,000 after buying an additional 248,181 shares during the period. 87.62% of the stock is owned by institutional investors and hedge funds.

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.