MercadoLibre (NASDAQ:MELI) Price Target Raised to $2,300.00

MercadoLibre (NASDAQ:MELI) had its price target increased by JPMorgan Chase & Co. from $1,950.00 to $2,300.00 in a research note released on Tuesday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

Other equities research analysts also recently issued research reports about the company. Wedbush cut their price target on MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating on the stock in a report on Monday, January 6th. Bank of America raised their target price on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the company a “buy” rating in a report on Friday, February 21st. Citigroup decreased their price target 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. Raymond James raised shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price objective on the stock in a research report on Tuesday, January 21st. Finally, Barclays lifted their price objective on shares of MercadoLibre from $2,200.00 to $2,500.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $2,385.94.

MercadoLibre Trading Down 3.1 %

NASDAQ MELI opened at $2,129.80 on Tuesday. 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 firm has a market cap of $107.97 billion, a price-to-earnings ratio of 56.49, a PEG ratio of 1.12 and a beta of 1.62. The firm has a 50 day simple moving average of $1,901.92 and a 200-day simple moving average of $1,965.30. MercadoLibre has a one year low of $1,324.99 and a one year high of $2,374.54.

MercadoLibre (NASDAQ:MELI) last issued 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. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The company had revenue of $6.06 billion during the quarter, compared to analysts’ expectations of $5.94 billion. Equities research analysts anticipate that MercadoLibre will post 43.96 EPS for the current fiscal year.

Hedge Funds Weigh In On MercadoLibre

A number of hedge funds have recently modified their holdings of MELI. Human Investing LLC acquired a new stake in MercadoLibre during the 4th quarter worth $26,000. Pacific Capital Wealth Advisors Inc. boosted its stake in shares of MercadoLibre by 220.0% during the fourth quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company’s stock worth $27,000 after buying an additional 11 shares during the period. Brown Lisle Cummings Inc. grew its holdings in shares of MercadoLibre by 100.0% during the fourth quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company’s stock worth $27,000 after buying an additional 8 shares during the last quarter. Covestor Ltd acquired a new position in MercadoLibre in the 4th quarter valued at about $27,000. Finally, Heck Capital Advisors LLC purchased a new stake in MercadoLibre during the 4th quarter valued at approximately $32,000. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

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.