MercadoLibre (NASDAQ:MELI) PT Raised to $2,300.00

MercadoLibre (NASDAQ:MELI) had its target price increased by equities researchers at Susquehanna from $2,000.00 to $2,300.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has a “positive” rating on the stock. Susquehanna’s price target would suggest a potential upside of 14.68% from the company’s current price.

A number of other analysts also recently issued reports on the company. Jefferies Financial Group raised MercadoLibre from a “hold” rating to a “buy” rating and lifted their target price for the company from $1,400.00 to $2,100.00 in a research report on Monday, May 20th. New Street Research downgraded MercadoLibre from a “buy” rating to a “neutral” rating in a research report on Friday, May 24th. Wedbush reiterated an “outperform” rating and issued a $1,800.00 price target on shares of MercadoLibre in a research note on Friday, May 3rd. The Goldman Sachs Group upped their target price on MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Finally, Citigroup increased their price objective on MercadoLibre from $2,000.00 to $2,200.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Two investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $2,045.00.

MercadoLibre Stock Down 1.1 %

NASDAQ:MELI opened at $2,005.66 on Monday. MercadoLibre has a 12-month low of $1,141.04 and a 12-month high of $2,029.99. The company has a quick ratio of 1.25, a current ratio of 1.27 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $101.68 billion, a P/E ratio of 89.74, a P/E/G ratio of 1.13 and a beta of 1.60. The stock’s fifty day simple moving average is $1,708.12 and its 200-day simple moving average is $1,634.14.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results 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 return on equity of 45.61% and a net margin of 8.03%. The business had revenue of $5.07 billion for the quarter, compared to analyst estimates of $4.64 billion. During the same period last year, the company earned $5.16 EPS. The firm’s revenue was up 41.5% on a year-over-year basis. Equities research analysts expect that MercadoLibre will post 33.4 earnings per share for the current year.

Institutional Trading of MercadoLibre

A number of hedge funds and other institutional investors have recently modified their holdings of MELI. International Assets Investment Management LLC grew its holdings in shares of 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 purchasing an additional 146,034 shares in the last quarter. Tennessee Valley Asset Management Partners bought a new stake in MercadoLibre in the fourth quarter worth $57,000. Mackenzie Financial Corp lifted its position in shares of MercadoLibre by 50.2% during the fourth quarter. Mackenzie Financial Corp now owns 1,765 shares of the company’s stock worth $2,774,000 after purchasing an additional 590 shares during the last quarter. Western Wealth Management LLC bought a new position in shares of MercadoLibre in the 4th quarter worth $234,000. Finally, J.W. Cole Advisors Inc. bought a new stake in MercadoLibre during the fourth quarter valued at about $592,000. 87.62% of the stock is owned by hedge funds and other 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.