MercadoLibre, Inc. (NASDAQ:MELI) Given Consensus Rating of “Buy” by Analysts

Shares of MercadoLibre, Inc. (NASDAQ:MELI) have been given a consensus recommendation of “Buy” by the seventeen ratings firms that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation, fourteen have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $2,402.81.

Several analysts have issued reports on MELI shares. The Goldman Sachs Group upped their price target on shares of MercadoLibre from $2,400.00 to $2,750.00 and gave the company a “buy” rating in a research report on Monday, March 3rd. Susquehanna increased their target price on MercadoLibre from $2,350.00 to $2,760.00 and gave the company a “positive” rating in a report on Friday, February 21st. Raymond James raised MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price target on the stock in a research note on Tuesday, January 21st. Cantor Fitzgerald increased their price objective on MercadoLibre from $2,150.00 to $3,000.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Finally, JPMorgan Chase & Co. lifted their target price on shares of MercadoLibre from $1,950.00 to $2,300.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 25th.

Institutional Trading of MercadoLibre

Hedge funds and other institutional investors have recently modified their holdings of the business. 1620 Investment Advisors Inc. increased its holdings in shares of MercadoLibre by 2.5% during the fourth quarter. 1620 Investment Advisors Inc. now owns 203 shares of the company’s stock valued at $346,000 after acquiring an additional 5 shares in the last quarter. Texas Yale Capital Corp. boosted its stake in shares of MercadoLibre by 0.3% during the 4th quarter. Texas Yale Capital Corp. now owns 1,634 shares of the company’s stock worth $2,779,000 after acquiring an additional 5 shares during the last quarter. Meiji Yasuda Life Insurance Co grew its holdings in MercadoLibre by 0.5% during the fourth quarter. Meiji Yasuda Life Insurance Co now owns 999 shares of the company’s stock valued at $1,699,000 after purchasing an additional 5 shares during the period. Formidable Asset Management LLC grew its stake in shares of MercadoLibre by 3.2% during the 4th quarter. Formidable Asset Management LLC now owns 160 shares of the company’s stock valued at $272,000 after acquiring an additional 5 shares during the period. Finally, Revolve Wealth Partners LLC boosted its position in shares of MercadoLibre by 4.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 118 shares of the company’s stock worth $201,000 after purchasing an additional 5 shares during the period. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Price Performance

MELI opened at $1,841.29 on Friday. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $93.35 billion, a P/E ratio of 48.84, a PEG ratio of 1.12 and a beta of 1.64. The stock has a 50-day moving average price of $2,036.90 and a 200-day moving average price of $1,968.60. MercadoLibre has a 12-month low of $1,324.99 and a 12-month high of $2,374.54.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results on Thursday, February 20th. The company reported $12.61 EPS 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 for the quarter, compared to analysts’ expectations of $5.94 billion. Equities analysts predict that MercadoLibre will post 43.96 earnings per share 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.