MercadoLibre, Inc. (NASDAQ:MELI) Receives $1,806.15 Average Target Price from Brokerages

Shares of MercadoLibre, Inc. (NASDAQ:MELI) have been given an average rating of “Moderate Buy” by the eleven analysts that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $1,806.15.

A number of research firms have issued reports on MELI. Barclays reduced their target price on shares of MercadoLibre from $2,000.00 to $1,800.00 and set an “overweight” rating for the company in a research note on Wednesday, April 3rd. Susquehanna upped their price target on shares of MercadoLibre from $1,850.00 to $2,000.00 and gave the stock a “positive” rating in a research note on Friday, February 23rd. Citigroup reduced their price target on shares of MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating for the company in a research note on Wednesday, March 27th. Wedbush reaffirmed an “outperform” rating and issued a $2,000.00 price target on shares of MercadoLibre in a research note on Tuesday, March 5th. Finally, StockNews.com lowered shares of MercadoLibre from a “buy” rating to a “hold” rating in a research note on Thursday, February 29th.

MercadoLibre Price Performance

Shares of NASDAQ:MELI opened at $1,415.88 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.27 and a debt-to-equity ratio of 0.72. MercadoLibre has a fifty-two week low of $1,063.02 and a fifty-two week high of $1,825.00. The firm has a 50-day simple moving average of $1,587.37 and a 200 day simple moving average of $1,523.81. The company has a market cap of $71.79 billion, a PE ratio of 72.46, a P/E/G ratio of 0.93 and a beta of 1.44.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Thursday, February 22nd. The company reported $3.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.66 by ($3.41). The firm had revenue of $4.26 billion for the quarter, compared to analyst estimates of $4.14 billion. MercadoLibre had a net margin of 6.82% and a return on equity of 39.07%. The company’s revenue for the quarter was up 42.0% on a year-over-year basis. During the same period in the previous year, the firm earned $3.25 earnings per share. On average, sell-side analysts anticipate that MercadoLibre will post 35.89 EPS for the current year.

Institutional Investors Weigh In On MercadoLibre

A number of large investors have recently made changes to their positions in the company. Envestnet Asset Management Inc. increased its stake in MercadoLibre by 99.3% in the 3rd quarter. Envestnet Asset Management Inc. now owns 53,554 shares of the company’s stock valued at $67,900,000 after buying an additional 26,679 shares during the period. Townsquare Capital LLC increased its stake in MercadoLibre by 0.9% in the 3rd quarter. Townsquare Capital LLC now owns 1,549 shares of the company’s stock valued at $1,964,000 after buying an additional 14 shares during the period. California Public Employees Retirement System increased its stake in MercadoLibre by 1.5% in the 3rd quarter. California Public Employees Retirement System now owns 89,312 shares of the company’s stock valued at $113,237,000 after buying an additional 1,277 shares during the period. Vanguard Group Inc. increased its stake in MercadoLibre by 2.3% in the 3rd quarter. Vanguard Group Inc. now owns 178,815 shares of the company’s stock valued at $226,716,000 after buying an additional 4,065 shares during the period. Finally, International Assets Investment Management LLC increased its stake in MercadoLibre by 112,333.8% in the 4th quarter. International Assets Investment Management LLC now owns 146,164 shares of the company’s stock valued at $229,703,000 after buying an additional 146,034 shares during the period. 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.