MercadoLibre (NASDAQ:MELI) PT Raised to $2,200.00

MercadoLibre (NASDAQ:MELI) had its price target upped by Citigroup from $2,000.00 to $2,200.00 in a research report released on Thursday, Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts also recently commented on the company. The Goldman Sachs Group upped their price objective on MercadoLibre from $2,180.00 to $2,480.00 and gave the company a buy rating in a research report on Thursday, August 8th. Jefferies Financial Group raised shares of MercadoLibre from a hold rating to a buy rating and raised their price target for the stock from $1,400.00 to $2,100.00 in a research note on Monday, May 20th. UBS Group lowered their price objective on shares of MercadoLibre from $1,900.00 to $1,800.00 and set a buy rating for the company in a research report on Wednesday, April 17th. Wedbush reaffirmed an outperform rating and set a $1,800.00 target price on shares of MercadoLibre in a research report on Friday, May 3rd. Finally, Barclays boosted their price target on MercadoLibre from $2,000.00 to $2,100.00 and gave the company an overweight rating in a report on Tuesday, August 6th. Two analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $2,020.00.

MercadoLibre Trading Down 0.9 %

Shares of MELI opened at $1,977.97 on Thursday. The company has a market cap of $100.28 billion, a P/E ratio of 88.50, a P/E/G ratio of 1.13 and a beta of 1.60. MercadoLibre has a twelve month low of $1,141.04 and a twelve month high of $1,999.00. The company’s fifty day simple moving average is $1,691.08 and its 200-day simple moving average is $1,630.53. The company has a current ratio of 1.27, a quick ratio of 1.25 and a debt-to-equity ratio of 0.66.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Thursday, August 1st. The company reported $10.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.53 by $1.95. MercadoLibre had a net margin of 8.03% and a return on equity of 45.61%. The business had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $4.64 billion. During the same quarter last year, the firm earned $5.16 earnings per share. The firm’s quarterly revenue was up 41.5% compared to the same quarter last year. As a group, analysts expect that MercadoLibre will post 33.4 EPS for the current year.

Institutional Trading of MercadoLibre

A number of institutional investors have recently modified their holdings of the company. International Assets Investment Management LLC boosted its stake in MercadoLibre by 112,333.8% in the fourth quarter. International Assets Investment Management LLC now owns 146,164 shares of the company’s stock valued at $229,703,000 after acquiring an additional 146,034 shares in the last quarter. Cerity Partners LLC grew its stake in MercadoLibre by 21.9% during the 4th quarter. Cerity Partners LLC now owns 2,274 shares of the company’s stock worth $3,574,000 after buying an additional 409 shares during the last quarter. Tennessee Valley Asset Management Partners acquired a new position in MercadoLibre during the 4th quarter valued at about $57,000. Mackenzie Financial Corp raised its stake in MercadoLibre by 50.2% in the fourth quarter. Mackenzie Financial Corp now owns 1,765 shares of the company’s stock valued at $2,774,000 after buying an additional 590 shares during the last quarter. Finally, Prosperity Wealth Management Inc. acquired a new stake in MercadoLibre in the fourth quarter worth about $228,000. 87.62% of the stock is currently owned by 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.