MercadoLibre (NASDAQ:MELI) PT Raised to $2,350.00

MercadoLibre (NASDAQ:MELI) had its target price raised by analysts at Susquehanna from $2,300.00 to $2,350.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a “positive” rating on the stock. Susquehanna’s price objective points to a potential upside of 16.58% from the stock’s current price.

A number of other research analysts have also weighed in on MELI. The Goldman Sachs Group raised their target price on MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a report on Thursday, August 8th. StockNews.com downgraded MercadoLibre from a “buy” rating to a “hold” rating in a research report on Saturday, August 10th. BTIG Research increased their price target on MercadoLibre from $2,025.00 to $2,250.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. New Street Research downgraded MercadoLibre from a “buy” rating to a “neutral” rating in a research report on Friday, May 24th. Finally, Dbs Bank raised MercadoLibre from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 11th. Two analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $2,067.92.

MercadoLibre Stock Up 1.0 %

Shares of NASDAQ:MELI opened at $2,015.79 on Wednesday. MercadoLibre has a 52-week low of $1,141.04 and a 52-week high of $2,048.99. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.25 and a current ratio of 1.27. The business’s 50 day simple moving average is $1,759.41 and its two-hundred day simple moving average is $1,646.20. The firm has a market cap of $102.19 billion, a P/E ratio of 90.19, a PEG ratio of 1.13 and a beta of 1.60.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Thursday, August 1st. The company reported $10.48 earnings per share for the quarter, beating analysts’ consensus estimates of $8.53 by $1.95. MercadoLibre had a return on equity of 45.61% and a net margin of 8.03%. The company had revenue of $5.07 billion for the quarter, compared to analyst estimates of $4.64 billion. During the same quarter last year, the company earned $5.16 earnings per share. The company’s revenue for the quarter was up 41.5% on a year-over-year basis. As a group, research analysts forecast that MercadoLibre will post 33.4 EPS for the current fiscal year.

Institutional Investors Weigh In On MercadoLibre

Several hedge funds have recently added to or reduced their stakes in the company. Vestor Capital LLC lifted its stake in shares of MercadoLibre by 10.0% in the 4th quarter. Vestor Capital LLC now owns 88 shares of the company’s stock valued at $138,000 after acquiring an additional 8 shares during the last quarter. Raymond James & Associates increased its stake in shares of MercadoLibre by 4.8% in the second quarter. Raymond James & Associates now owns 34,840 shares of the company’s stock worth $57,256,000 after buying an additional 1,604 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of MercadoLibre by 20.3% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 27,642 shares of the company’s stock worth $41,794,000 after buying an additional 4,658 shares during the period. Gulf International Bank UK Ltd increased its stake in shares of MercadoLibre by 33.4% in the first quarter. Gulf International Bank UK Ltd now owns 4,960 shares of the company’s stock worth $7,499,000 after buying an additional 1,241 shares during the period. Finally, Sarasin & Partners LLP increased its stake in shares of MercadoLibre by 168.5% in the second quarter. Sarasin & Partners LLP now owns 45,407 shares of the company’s stock worth $74,622,000 after buying an additional 28,494 shares during the period. Institutional investors own 87.62% of the company’s stock.

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.