Wedbush Reiterates Outperform Rating for MercadoLibre (NASDAQ:MELI)

MercadoLibre (NASDAQ:MELI)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Wedbush in a report released on Thursday,RTT News reports. They presently have a $2,200.00 price objective on the stock, up from their previous price objective of $2,000.00. Wedbush’s price objective indicates a potential upside of 17.52% from the stock’s current price.

Several other equities research analysts also recently commented on MELI. Morgan Stanley increased their price objective on MercadoLibre from $2,175.00 to $2,500.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Cantor Fitzgerald decreased their price objective on shares of MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating for the company in a research report on Thursday. StockNews.com lowered MercadoLibre from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. The Goldman Sachs Group increased their price objective on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Finally, Citigroup upped their price target on shares of MercadoLibre from $2,200.00 to $2,480.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Three 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 company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $2,309.67.

MercadoLibre Stock Up 5.5 %

Shares of MercadoLibre stock traded up $97.96 on Thursday, hitting $1,872.01. The company had a trading volume of 1,357,175 shares, compared to its average volume of 267,932. The stock has a 50-day moving average of $2,046.45 and a 200-day moving average of $1,822.55. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.28 and a quick ratio of 1.26. MercadoLibre has a twelve month low of $1,324.99 and a twelve month high of $2,161.73. The firm has a market capitalization of $94.91 billion, a P/E ratio of 66.06, a P/E/G ratio of 1.30 and a beta of 1.61.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Wednesday, November 6th. The company reported $7.83 EPS for the quarter, missing the consensus estimate of $11.27 by ($3.44). MercadoLibre had a net margin of 7.57% and a return on equity of 42.61%. The firm had revenue of $5.31 billion during the quarter, compared to the consensus estimate of $5.25 billion. Research analysts predict that MercadoLibre will post 37.28 earnings per share for the current year.

Institutional Investors Weigh In On MercadoLibre

Large investors have recently bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. increased its stake in MercadoLibre by 1,600.0% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock valued at $28,000 after acquiring an additional 16 shares during the last quarter. Optimum Investment Advisors increased its stake in shares of MercadoLibre by 750.0% in the 3rd quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock valued at $35,000 after purchasing an additional 15 shares during the last quarter. Financial Connections Group Inc. acquired a new position in shares of MercadoLibre during the 2nd quarter worth $36,000. Quarry LP bought a new stake in shares of MercadoLibre during the 2nd quarter worth $43,000. Finally, Legacy Bridge LLC boosted its stake in MercadoLibre by 53.3% in the third quarter. Legacy Bridge LLC now owns 23 shares of the company’s stock valued at $47,000 after buying an additional 8 shares in the last quarter. 87.62% of the stock is currently 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.