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

MercadoLibre, Inc. (NASDAQ:MELI) has received a consensus rating of “Buy” from the fourteen research firms that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation, twelve have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $2,141.25.

MELI has been the topic of a number of recent analyst reports. Jefferies Financial Group raised MercadoLibre from a “hold” rating to a “buy” rating and upped their price target for the stock from $1,400.00 to $2,100.00 in a research report on Monday, May 20th. Barclays increased their price target on MercadoLibre from $2,000.00 to $2,100.00 and gave the company an “overweight” rating in a research note on Tuesday, August 6th. Cantor Fitzgerald began coverage on MercadoLibre in a research note on Thursday, September 5th. They set an “overweight” rating and a $2,530.00 price target on the stock. StockNews.com lowered shares of MercadoLibre from a “buy” rating to a “hold” rating in a research report on Saturday, August 10th. Finally, BTIG Research boosted their target price on shares of MercadoLibre from $2,025.00 to $2,250.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st.

MercadoLibre Stock Performance

Shares of NASDAQ:MELI opened at $2,029.91 on Tuesday. The company has a quick ratio of 1.26, a current ratio of 1.28 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $102.92 billion, a price-to-earnings ratio of 90.82, a price-to-earnings-growth ratio of 1.29 and a beta of 1.60. The firm has a 50 day moving average of $1,823.09 and a 200 day moving average of $1,660.50. MercadoLibre has a 52 week low of $1,141.04 and a 52 week high of $2,064.76.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Thursday, August 1st. The company reported $10.48 EPS for the quarter, beating the consensus estimate of $8.53 by $1.95. The business had revenue of $5.07 billion during the quarter, compared to analyst estimates of $4.64 billion. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. The company’s quarterly revenue was up 41.5% on a year-over-year basis. During the same period in the prior year, the firm posted $5.16 earnings per share. On average, sell-side analysts predict that MercadoLibre will post 35.22 earnings per share for the current fiscal year.

Institutional Trading of MercadoLibre

Several large investors have recently made changes to their positions in MELI. Capital International Investors lifted its position in MercadoLibre by 0.4% during the fourth quarter. Capital International Investors now owns 1,037,070 shares of the company’s stock valued at $1,630,740,000 after purchasing an additional 4,317 shares during the period. Capital World Investors raised its stake in shares of MercadoLibre by 12.7% during the 1st quarter. Capital World Investors now owns 845,749 shares of the company’s stock valued at $1,278,738,000 after buying an additional 95,029 shares during the last quarter. GQG Partners LLC lifted its holdings in shares of MercadoLibre by 442.2% in the 1st quarter. GQG Partners LLC now owns 794,782 shares of the company’s stock valued at $1,201,679,000 after buying an additional 648,198 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of MercadoLibre by 43.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company’s stock worth $1,167,073,000 after buying an additional 232,787 shares during the last quarter. Finally, Janus Henderson Group PLC grew its holdings in MercadoLibre by 55.8% during the first quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock worth $557,225,000 after acquiring an additional 132,028 shares during the period. 87.62% of the stock is owned by hedge funds and other institutional investors.

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.