MercadoLibre, Inc. (NASDAQ:MELI) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of MercadoLibre, Inc. (NASDAQ:MELI) have received a consensus rating of “Moderate Buy” from the sixteen analysts that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold recommendation, thirteen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $2,246.07.

Several equities analysts recently issued reports on the company. Raymond James began coverage on MercadoLibre in a research note on Friday, September 27th. They set an “outperform” rating and a $2,350.00 target price on the stock. Citigroup boosted their target price on MercadoLibre from $2,000.00 to $2,200.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. JPMorgan Chase & Co. lowered MercadoLibre from an “overweight” rating to a “neutral” rating and set a $2,400.00 price target on the stock. in a research report on Wednesday. StockNews.com downgraded MercadoLibre from a “buy” rating to a “hold” rating in a research report on Saturday, August 10th. Finally, Morgan Stanley upped their target price on shares of MercadoLibre from $2,175.00 to $2,500.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th.

MercadoLibre Trading Up 0.0 %

Shares of MELI opened at $1,960.00 on Friday. MercadoLibre has a 52-week low of $1,141.04 and a 52-week high of $2,161.73. The stock has a market cap of $99.37 billion, a PE ratio of 87.70, a price-to-earnings-growth ratio of 1.34 and a beta of 1.61. The firm’s fifty day moving average is $1,975.39 and its two-hundred day moving average is $1,726.57. The company has a quick ratio of 1.26, a current ratio of 1.28 and a debt-to-equity ratio of 0.67.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Thursday, August 1st. The company reported $10.48 earnings per share for the quarter, beating the consensus estimate of $8.53 by $1.95. The firm had revenue of $5.07 billion for the quarter, compared to analysts’ expectations of $4.64 billion. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. The company’s revenue was up 41.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.16 EPS. Research analysts forecast that MercadoLibre will post 35.79 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MercadoLibre

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. First PREMIER Bank acquired a new stake in shares of MercadoLibre in the first quarter valued at about $27,000. Migdal Insurance & Financial Holdings Ltd. increased its position in shares of MercadoLibre by 1,600.0% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock valued at $28,000 after buying an additional 16 shares in the last quarter. Scarborough Advisors LLC acquired a new stake in MercadoLibre in the 4th quarter valued at about $36,000. Financial Connections Group Inc. purchased a new position in MercadoLibre during the 2nd quarter valued at about $36,000. Finally, Transcendent Capital Group LLC acquired a new position in MercadoLibre during the fourth quarter worth about $38,000. 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.