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

MercadoLibre (NASDAQ:MELI) had its price objective increased by equities research analysts at Morgan Stanley from $2,175.00 to $2,500.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Morgan Stanley’s target price points to a potential upside of 18.52% from the company’s current price.

Several other brokerages have also recently weighed in on MELI. BTIG Research upped their target price on MercadoLibre from $2,025.00 to $2,250.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Dbs Bank raised shares of MercadoLibre from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 11th. Bank of America raised their target price on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a research report on Thursday, September 12th. Barclays upped their price target on shares of MercadoLibre from $2,000.00 to $2,100.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 6th. Finally, The Goldman Sachs Group lifted their price objective on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, MercadoLibre has an average rating of “Moderate Buy” and a consensus price target of $2,207.31.

MercadoLibre Trading Up 0.3 %

MELI stock opened at $2,109.40 on Friday. MercadoLibre has a 12 month low of $1,141.04 and a 12 month high of $2,157.64. The firm’s 50-day moving average is $1,892.32 and its 200 day moving average is $1,686.62. The company has a market capitalization of $106.94 billion, a PE ratio of 94.38, a P/E/G ratio of 1.33 and a beta of 1.61. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.28 and a quick ratio of 1.26.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Thursday, August 1st. The company reported $10.48 EPS for the quarter, topping analysts’ consensus estimates of $8.53 by $1.95. The business had revenue of $5.07 billion for 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% compared to the same quarter last year. During the same period last year, the company posted $5.16 earnings per share. On average, research analysts anticipate that MercadoLibre will post 35.22 EPS for the current year.

Institutional Trading of MercadoLibre

Hedge funds and other institutional investors have recently made changes to their positions in the business. Amalgamated Bank raised its stake in MercadoLibre by 22.2% in the fourth quarter. Amalgamated Bank now owns 55 shares of the company’s stock valued at $86,000 after buying an additional 10 shares during the last quarter. Gryphon Financial Partners LLC boosted its stake in MercadoLibre by 40.9% in the 4th quarter. Gryphon Financial Partners LLC now owns 513 shares of the company’s stock worth $861,000 after purchasing an additional 149 shares in the last quarter. Quadrant Capital Group LLC grew its position in MercadoLibre by 13.0% during the 4th quarter. Quadrant Capital Group LLC now owns 78 shares of the company’s stock worth $123,000 after purchasing an additional 9 shares during the last quarter. Brown Advisory Inc. increased its stake in MercadoLibre by 2.3% during the 4th quarter. Brown Advisory Inc. now owns 545 shares of the company’s stock valued at $856,000 after purchasing an additional 12 shares in the last quarter. Finally, Coldstream Capital Management Inc. purchased a new position in shares of MercadoLibre in the fourth quarter worth $446,000. Hedge funds and other 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.