MercadoLibre, Inc. (NASDAQ:MELI) Receives $2,402.81 Consensus Price Target from Analysts

MercadoLibre, Inc. (NASDAQ:MELI) has earned an average recommendation of “Buy” from the seventeen analysts that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation, fourteen have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $2,402.81.

Several brokerages have recently weighed in 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 research note on Friday, February 21st. The Goldman Sachs Group increased their price objective on shares of MercadoLibre from $2,400.00 to $2,750.00 and gave the stock a “buy” rating in a report on Monday, March 3rd. Bank of America raised their price objective on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Raymond James upgraded shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 target price for the company in a report on Tuesday, January 21st. Finally, New Street Research raised shares of MercadoLibre from a “neutral” rating to a “buy” rating and raised their price objective for the company from $2,000.00 to $2,300.00 in a research report on Thursday, January 30th.

Institutional Investors Weigh In On MercadoLibre

Institutional investors have recently bought and sold shares of the business. Capital International Investors boosted its stake in shares of MercadoLibre by 38.7% in the 4th quarter. Capital International Investors now owns 1,687,114 shares of the company’s stock valued at $2,868,869,000 after purchasing an additional 470,829 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of MercadoLibre by 41.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,394,255 shares of the company’s stock valued at $2,370,848,000 after buying an additional 405,425 shares during the last quarter. Wealthfront Advisers LLC bought a new position in shares of MercadoLibre in the fourth quarter valued at about $565,306,000. Capital World Investors raised its holdings in shares of MercadoLibre by 24.5% in the fourth quarter. Capital World Investors now owns 1,568,602 shares of the company’s stock valued at $2,667,386,000 after buying an additional 308,973 shares during the last quarter. Finally, Norges Bank bought a new position in shares of MercadoLibre in the fourth quarter valued at about $383,051,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Trading Down 1.8 %

Shares of MercadoLibre stock opened at $2,009.34 on Tuesday. The firm has a market cap of $101.87 billion, a price-to-earnings ratio of 53.30, a price-to-earnings-growth ratio of 1.12 and a beta of 1.64. MercadoLibre has a 52-week low of $1,324.99 and a 52-week high of $2,374.54. The company’s 50-day simple moving average is $1,942.41 and its 200-day simple moving average is $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 earnings per share for the quarter, beating 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 business had revenue of $6.06 billion during the quarter, compared to analyst estimates of $5.94 billion. As a group, equities research analysts anticipate that MercadoLibre will post 43.96 earnings per share for the current year.

MercadoLibre Company Profile

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.