Brokerages Set MercadoLibre, Inc. (NASDAQ:MELI) Target Price at $2,402.81

Shares of MercadoLibre, Inc. (NASDAQ:MELI) have been given a consensus rating of “Buy” by the seventeen brokerages that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $2,402.81.

A number of brokerages have recently issued reports on MELI. Cantor Fitzgerald upped their target price on shares of MercadoLibre from $2,150.00 to $3,000.00 and gave the company an “overweight” rating in a report on Friday, February 21st. JPMorgan Chase & Co. raised their target price on shares of MercadoLibre from $1,950.00 to $2,300.00 and gave the stock a “neutral” rating in a report on Tuesday, February 25th. Citigroup lowered their target price on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating on the stock in a report on Tuesday, November 26th. Raymond James upgraded shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price target on the stock in a research report on Tuesday, January 21st. Finally, Morgan Stanley reduced their price target on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th.

MercadoLibre Trading Down 1.8 %

NASDAQ:MELI opened at $2,009.34 on Tuesday. The company has a market cap of $101.87 billion, a P/E ratio of 53.30, a price-to-earnings-growth ratio of 1.12 and a beta of 1.64. MercadoLibre has a twelve month low of $1,324.99 and a twelve month high of $2,374.54. The business has a 50 day moving average price of $1,942.41 and a two-hundred day moving average price of $1,969.92. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Thursday, February 20th. The company reported $12.61 EPS for the quarter, topping analysts’ consensus estimates of $10.21 by $2.40. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The company had revenue of $6.06 billion during the quarter, compared to the consensus estimate of $5.94 billion. As a group, analysts expect that MercadoLibre will post 43.96 EPS for the current fiscal year.

Institutional Trading of MercadoLibre

A number of hedge funds have recently added to or reduced their stakes in MELI. Human Investing LLC bought a new position in shares of MercadoLibre during the fourth quarter valued at $26,000. Park Square Financial Group LLC bought a new position in shares of MercadoLibre during the fourth quarter valued at $26,000. Pacific Capital Wealth Advisors Inc. raised its stake in shares of MercadoLibre by 220.0% during the fourth quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company’s stock valued at $27,000 after acquiring an additional 11 shares during the last quarter. Brown Lisle Cummings Inc. raised its stake in shares of MercadoLibre by 100.0% during the fourth quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company’s stock valued at $27,000 after acquiring an additional 8 shares during the last quarter. Finally, Covestor Ltd bought a new position in shares of MercadoLibre during the fourth quarter valued at $27,000. 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.