Brokerages Set MercadoLibre, Inc. (NASDAQ:MELI) Price Target at $2,141.25

MercadoLibre, Inc. (NASDAQ:MELI) has received a consensus recommendation of “Buy” from the fourteen ratings firms that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation, twelve have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $2,182.92.

A number of equities analysts have commented on the company. Dbs Bank raised MercadoLibre from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 11th. Cantor Fitzgerald assumed coverage on shares of MercadoLibre in a report on Thursday, September 5th. They set an “overweight” rating and a $2,530.00 price objective on the stock. New Street Research downgraded shares of MercadoLibre from a “buy” rating to a “neutral” rating in a research note on Friday, May 24th. Susquehanna upped their target price on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a research report on Wednesday, August 28th. Finally, Barclays raised their price target on shares of MercadoLibre from $2,000.00 to $2,100.00 and gave the company an “overweight” rating in a report on Tuesday, August 6th.

Institutional Trading of MercadoLibre

Institutional investors and hedge funds have recently modified their holdings of the stock. Amalgamated Bank increased its stake in MercadoLibre by 22.2% in the fourth quarter. Amalgamated Bank now owns 55 shares of the company’s stock valued at $86,000 after purchasing an additional 10 shares in the last quarter. Private Advisor Group LLC increased its position in shares of MercadoLibre by 33.2% in the 4th quarter. Private Advisor Group LLC now owns 530 shares of the company’s stock valued at $833,000 after buying an additional 132 shares in the last quarter. Lincoln National Corp raised its stake in MercadoLibre by 9.1% during the 4th quarter. Lincoln National Corp now owns 265 shares of the company’s stock worth $416,000 after buying an additional 22 shares during the period. Gryphon Financial Partners LLC lifted its holdings in MercadoLibre by 40.9% during the fourth quarter. Gryphon Financial Partners LLC now owns 513 shares of the company’s stock worth $861,000 after acquiring an additional 149 shares in the last quarter. Finally, Principal Securities Inc. acquired a new position in MercadoLibre in the fourth quarter valued at about $242,000. 87.62% of the stock is owned by institutional investors.

MercadoLibre Trading Down 0.8 %

Shares of MELI stock opened at $2,105.51 on Tuesday. The company has a quick ratio of 1.26, a current ratio of 1.28 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $106.74 billion, a P/E ratio of 94.21, a P/E/G ratio of 1.33 and a beta of 1.61. MercadoLibre has a 12-month low of $1,141.04 and a 12-month high of $2,143.96. The firm has a 50-day moving average price of $1,869.28 and a 200 day moving average price of $1,677.47.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Thursday, August 1st. The company reported $10.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.53 by $1.95. The company had revenue of $5.07 billion during 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%. MercadoLibre’s quarterly 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 earnings per share. Research analysts forecast that MercadoLibre will post 35.22 earnings per share for the current fiscal year.

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.