MercadoLibre (NASDAQ:MELI) Now Covered by Analysts at Raymond James

Raymond James began coverage on shares of MercadoLibre (NASDAQ:MELI) in a research note published on Friday, Marketbeat Ratings reports. The brokerage issued an outperform rating and a $2,350.00 price target on the stock.

Several other brokerages have also recently weighed in on MELI. Bank of America raised their price objective on MercadoLibre from $2,250.00 to $2,500.00 and gave the company a buy rating in a report on Thursday, September 12th. The Goldman Sachs Group boosted their price target on MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a buy rating in a research report on Thursday, August 8th. JPMorgan Chase & Co. increased their price objective on MercadoLibre from $2,150.00 to $2,400.00 and gave the company an overweight rating in a report on Tuesday, August 6th. BTIG Research boosted their target price on shares of MercadoLibre from $2,025.00 to $2,250.00 and gave the stock a buy rating in a report on Wednesday, August 21st. Finally, Dbs Bank raised shares of MercadoLibre from a hold rating to a strong-buy rating in a research report on Thursday, July 11th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, MercadoLibre currently has a consensus rating of Moderate Buy and an average target price of $2,217.50.

MercadoLibre Trading Down 1.7 %

NASDAQ MELI opened at $2,064.71 on Friday. MercadoLibre has a 52 week low of $1,141.04 and a 52 week high of $2,161.73. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.26 and a current ratio of 1.28. The stock’s 50 day moving average price is $1,941.21 and its two-hundred day moving average price is $1,712.60. The stock has a market capitalization of $104.67 billion, a price-to-earnings ratio of 92.38, a PEG ratio of 1.34 and a beta of 1.61.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MELI. Gryphon Financial Partners LLC increased its position 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 during the period. Orion Portfolio Solutions LLC grew its position in MercadoLibre by 8.7% during the fourth quarter. Orion Portfolio Solutions LLC now owns 489 shares of the company’s stock worth $770,000 after buying an additional 39 shares in the last quarter. Focus Financial Network Inc. ADV bought a new position in MercadoLibre during the 4th quarter worth $212,000. Dorsey & Whitney Trust CO LLC bought a new stake in shares of MercadoLibre during the 4th quarter valued at $212,000. Finally, Scotia Capital Inc. bought a new position in shares of MercadoLibre in the fourth quarter worth $226,000. 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.