MercadoLibre (NASDAQ:MELI) Stock Price Up 1.9% – Should You Buy?

MercadoLibre, Inc. (NASDAQ:MELI)’s share price was up 1.9% during mid-day trading on Friday . The stock traded as high as $2,080.00 and last traded at $2,080.00. Approximately 48,432 shares changed hands during trading, a decline of 86% from the average daily volume of 351,317 shares. The stock had previously closed at $2,040.50.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Morgan Stanley upped their price objective on shares of MercadoLibre from $2,175.00 to $2,500.00 and gave the company an “overweight” rating in a research report on Friday, September 20th. Raymond James initiated coverage on MercadoLibre in a report on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 price target for the company. The Goldman Sachs Group upped their target price 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. StockNews.com downgraded shares of MercadoLibre from a “buy” rating to a “hold” rating in a research report on Saturday, August 10th. Finally, BTIG Research increased their price objective on shares of MercadoLibre from $2,025.00 to $2,250.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $2,283.00.

MercadoLibre Stock Up 2.6 %

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 firm has a 50 day simple moving average of $2,006.26 and a two-hundred day simple moving average of $1,739.70. The stock has a market cap of $106.18 billion, a P/E ratio of 75.17, a P/E/G ratio of 1.25 and a beta of 1.61.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results on Thursday, August 1st. The company reported $10.48 earnings per share for the quarter, topping analysts’ consensus estimates of $8.53 by $1.95. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. The company had revenue of $5.07 billion during the quarter, compared to analyst estimates of $4.64 billion. During the same period in the prior year, the business posted $5.16 EPS. The business’s revenue for the quarter was up 41.5% compared to the same quarter last year. Equities research analysts predict that MercadoLibre, Inc. will post 37.55 earnings per share for the current year.

Institutional Trading of MercadoLibre

Institutional investors have recently modified their holdings of the company. First PREMIER Bank bought a new stake in MercadoLibre in the first quarter worth about $27,000. Migdal Insurance & Financial Holdings Ltd. raised its holdings in shares of MercadoLibre by 1,600.0% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock worth $28,000 after purchasing an additional 16 shares in the last quarter. Scarborough Advisors LLC acquired a new stake in MercadoLibre during the fourth quarter valued at approximately $36,000. Financial Connections Group Inc. bought a new stake in MercadoLibre during the second quarter worth approximately $36,000. Finally, Transcendent Capital Group LLC acquired a new position in MercadoLibre in the fourth quarter worth approximately $38,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

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.