MercadoLibre, Inc. (NASDAQ:MELI) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of MercadoLibre, Inc. (NASDAQ:MELI) have been assigned a consensus rating of “Moderate Buy” from the seventeen analysts that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, fourteen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $2,301.67.

MELI has been the topic of several research reports. BTIG Research boosted their target price on MercadoLibre from $2,025.00 to $2,250.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Dbs Bank upgraded MercadoLibre from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 11th. Susquehanna boosted their target price on MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a research note on Wednesday, August 28th. Morgan Stanley boosted their price target on MercadoLibre from $2,175.00 to $2,500.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. Finally, 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, October 2nd.

MercadoLibre Trading Down 1.4 %

NASDAQ:MELI opened at $2,026.57 on Wednesday. MercadoLibre has a fifty-two week low of $1,205.80 and a fifty-two week high of $2,161.73. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.28 and a quick ratio of 1.26. The stock has a market capitalization of $102.74 billion, a PE ratio of 90.67, a price-to-earnings-growth ratio of 1.26 and a beta of 1.61. The business’s 50-day simple moving average is $2,048.06 and its 200-day simple moving average is $1,793.83.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Thursday, August 1st. The company reported $10.48 EPS 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 return on equity of 43.52% and a net margin of 8.03%. The business’s quarterly revenue was up 41.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.16 EPS. Sell-side analysts expect that MercadoLibre will post 37.55 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Migdal Insurance & Financial Holdings Ltd. boosted its stake in MercadoLibre by 1,600.0% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock valued at $28,000 after purchasing an additional 16 shares during the period. Optimum Investment Advisors boosted its stake in MercadoLibre by 750.0% in the 3rd quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock valued at $35,000 after purchasing an additional 15 shares during the period. Financial Connections Group Inc. bought a new stake in MercadoLibre in the 2nd quarter valued at $36,000. Quarry LP bought a new stake in MercadoLibre in the 2nd quarter valued at $43,000. Finally, NBC Securities Inc. boosted its stake in MercadoLibre by 35.0% in the 3rd quarter. NBC Securities Inc. now owns 27 shares of the company’s stock valued at $55,000 after purchasing an additional 7 shares during the period. 87.62% of the stock is owned by institutional investors and hedge funds.

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.