MercadoLibre (NASDAQ:MELI) Given New $2,750.00 Price Target at The Goldman Sachs Group

MercadoLibre (NASDAQ:MELI) had its price objective increased by The Goldman Sachs Group from $2,400.00 to $2,750.00 in a research report report published on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other brokerages have also weighed in on MELI. Barclays lifted their price objective on shares of MercadoLibre from $2,200.00 to $2,500.00 and gave the company an “overweight” rating in a report on Friday, February 21st. New Street Research upgraded shares of MercadoLibre from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $2,000.00 to $2,300.00 in a report on Thursday, January 30th. Morgan Stanley reduced 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. Wedbush reduced their price target on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating for the company in a report on Monday, January 6th. Finally, BTIG Research reduced their price target on shares of MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $2,402.81.

MercadoLibre Trading Down 2.4 %

Shares of MELI opened at $2,070.41 on Monday. MercadoLibre has a 1-year low of $1,324.99 and a 1-year high of $2,374.54. The company has a 50-day moving average of $1,916.76 and a 200 day moving average of $1,968.19. The firm has a market capitalization of $104.96 billion, a price-to-earnings ratio of 54.92, a PEG ratio of 1.12 and a beta of 1.62. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Thursday, February 20th. The company reported $12.61 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $5.94 billion. On average, research analysts expect that MercadoLibre will post 43.96 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Park Square Financial Group LLC purchased a new stake in MercadoLibre during the 4th quarter worth approximately $26,000. Employees Retirement System of Texas grew its position in MercadoLibre by 1,321.2% during the 4th quarter. Employees Retirement System of Texas now owns 30,200 shares of the company’s stock worth $51,353,000 after purchasing an additional 28,075 shares during the last quarter. Jefferies Financial Group Inc. grew its position in MercadoLibre by 569.5% during the 4th quarter. Jefferies Financial Group Inc. now owns 1,031 shares of the company’s stock worth $1,753,000 after purchasing an additional 877 shares during the last quarter. Bernard Wealth Management Corp. purchased a new stake in MercadoLibre during the 4th quarter worth approximately $48,000. Finally, LM Advisors LLC grew its position in MercadoLibre by 54.5% during the 4th quarter. LM Advisors LLC now owns 238 shares of the company’s stock worth $405,000 after purchasing an additional 84 shares during the last quarter. Institutional investors own 87.62% of the company’s stock.

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.