MercadoLibre (NASDAQ:MELI) PT Raised to $2,500.00

MercadoLibre (NASDAQ:MELI) had its target price boosted by equities researchers at Bank of America from $2,250.00 to $2,500.00 in a research report issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. Bank of America‘s target price would indicate a potential upside of 17.79% from the stock’s previous close.

A number of other equities research analysts also recently issued reports on the stock. Cantor Fitzgerald began coverage on shares of MercadoLibre in a research note on Thursday, September 5th. They issued an “overweight” rating and a $2,530.00 price target on the stock. Susquehanna upped their price target on MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a report on Wednesday, August 28th. Citigroup raised their price objective on MercadoLibre from $2,000.00 to $2,200.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. BTIG Research lifted their target price on shares of MercadoLibre from $2,025.00 to $2,250.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Finally, StockNews.com cut MercadoLibre from a “buy” rating to a “hold” rating in a research report on Saturday, August 10th. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, MercadoLibre has a consensus rating of “Moderate Buy” and an average price target of $2,182.92.

MercadoLibre Trading Down 0.8 %

Shares of MELI opened at $2,122.37 on Thursday. The stock has a market cap of $107.60 billion, a PE ratio of 94.96, a price-to-earnings-growth ratio of 1.33 and a beta of 1.61. MercadoLibre has a 52-week low of $1,141.04 and a 52-week high of $2,143.96. The firm’s fifty day moving average is $1,860.84 and its two-hundred day moving average is $1,672.76. The company has a quick ratio of 1.26, a current ratio of 1.28 and a debt-to-equity ratio of 0.67.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in MELI. Migdal Insurance & Financial Holdings Ltd. boosted its stake in shares of MercadoLibre by 1,600.0% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock valued at $28,000 after acquiring an additional 16 shares during the last quarter. First PREMIER Bank purchased a new stake in MercadoLibre during the first quarter valued at about $27,000. Financial Connections Group Inc. acquired a new stake in MercadoLibre during the 2nd quarter worth approximately $36,000. DSM Capital Partners LLC acquired a new stake in shares of MercadoLibre in the fourth quarter worth $36,000. Finally, Scarborough Advisors LLC purchased a new position in MercadoLibre in the fourth quarter valued at about $36,000. Institutional investors and hedge funds 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.