MercadoLibre (NASDAQ:MELI) Price Target Raised to $2,760.00

MercadoLibre (NASDAQ:MELIFree Report) had its price target hoisted by Susquehanna from $2,350.00 to $2,760.00 in a research report released on Friday,Benzinga reports. Susquehanna currently has a positive rating on the stock.

Several other research analysts also recently weighed in on MELI. Citigroup cut their target price on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a research note on Tuesday, November 26th. Barclays upped their price objective on shares of MercadoLibre from $2,200.00 to $2,500.00 and gave the company an “overweight” rating in a research note on Friday. Raymond James raised 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. JPMorgan Chase & Co. dropped their price objective on shares of MercadoLibre from $2,150.00 to $1,950.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Finally, Bank of America upped their price objective on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the company a “buy” rating in a research note on Friday. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $2,364.06.

View Our Latest Research Report on MELI

MercadoLibre Stock Performance

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

MercadoLibre (NASDAQ:MELIGet Free Report) last issued its earnings results on Thursday, February 20th. The company reported $12.61 EPS for the quarter, topping 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 company had revenue of $6.06 billion for the quarter, compared to analyst estimates of $5.94 billion. On average, sell-side analysts predict that MercadoLibre will post 43.96 earnings per share for the current year.

Insider Transactions at MercadoLibre

In other news, Director Emiliano Calemzuk sold 50 shares of the firm’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 directly owns 238 shares of the company’s stock, valued at $472,425.24. This trade represents a 17.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.06% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Planning Capital Management Corp raised its stake in shares of MercadoLibre by 9.1% in the 3rd quarter. Planning Capital Management Corp now owns 60 shares of the company’s stock valued at $123,000 after acquiring an additional 5 shares in the last quarter. Mount Lucas Management LP raised its stake in shares of MercadoLibre by 3.6% in the 3rd quarter. Mount Lucas Management LP now owns 143 shares of the company’s stock valued at $293,000 after acquiring an additional 5 shares in the last quarter. 1620 Investment Advisors Inc. raised its stake in shares of MercadoLibre by 2.5% in 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 in 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 acquiring an additional 5 shares in the last quarter. Finally, Meiji Yasuda Life Insurance Co increased its position in MercadoLibre by 0.5% in the 4th quarter. Meiji Yasuda Life Insurance Co now owns 999 shares of the company’s stock worth $1,699,000 after buying an additional 5 shares during the period. 87.62% of the stock is owned by institutional investors.

MercadoLibre Company Profile

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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.

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Analyst Recommendations for MercadoLibre (NASDAQ:MELI)

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