MercadoLibre (NASDAQ:MELI) Trading Up 0.2% on Analyst Upgrade

MercadoLibre, Inc. (NASDAQ:MELI) shares traded up 0.2% on Wednesday after Citigroup raised their price target on the stock from $2,200.00 to $2,480.00. Citigroup currently has a buy rating on the stock. MercadoLibre traded as high as $2,075.24 and last traded at $2,072.33. 27,076 shares traded hands during mid-day trading, a decline of 92% from the average session volume of 346,950 shares. The stock had previously closed at $2,067.82.

Other equities analysts also recently issued research reports about the company. Barclays upped their price objective on MercadoLibre from $2,100.00 to $2,500.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Raymond James initiated coverage on MercadoLibre in a research note on Friday, September 27th. They set an “outperform” rating and a $2,350.00 price target for the company. Redburn Atlantic initiated coverage on MercadoLibre in a research note on Friday, October 11th. They issued a “buy” rating and a $2,800.00 price objective on the stock. Bank of America increased their target price on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a research report on Thursday, September 12th. Finally, Susquehanna boosted their price target on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a research report on Wednesday, August 28th. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, MercadoLibre has an average rating of “Moderate Buy” and an average target price of $2,301.67.

Institutional Trading of MercadoLibre

A number of large investors have recently modified their holdings of the business. Migdal Insurance & Financial Holdings Ltd. lifted its position in MercadoLibre by 1,600.0% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock valued at $28,000 after purchasing an additional 16 shares during the last quarter. Optimum Investment Advisors raised its position in MercadoLibre by 750.0% during the third quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock valued at $35,000 after purchasing an additional 15 shares in the last quarter. Financial Connections Group Inc. bought a new position in shares of MercadoLibre during the 2nd quarter valued at about $36,000. Quarry LP purchased a new position in shares of MercadoLibre during the 2nd quarter valued at about $43,000. Finally, NBC Securities Inc. lifted its position in MercadoLibre by 35.0% in the 3rd quarter. NBC Securities Inc. now owns 27 shares of the company’s stock worth $55,000 after buying an additional 7 shares during the last quarter. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Up 0.2 %

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 has a 50-day moving average of $2,041.70 and a two-hundred day moving average of $1,774.03. The company has a market cap of $105.05 billion, a P/E ratio of 92.72, a P/E/G ratio of 1.25 and a beta of 1.61.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data 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 firm had revenue of $5.07 billion during the quarter, compared to analyst estimates of $4.64 billion. During the same period in the previous year, the business posted $5.16 EPS. The business’s quarterly revenue was up 41.5% on a year-over-year basis. On average, research analysts anticipate that MercadoLibre, Inc. will post 37.55 EPS for the current fiscal year.

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.