MercadoLibre, Inc. (NASDAQ:MELI) Receives Consensus Rating of “Moderate Buy” from Analysts

MercadoLibre, Inc. (NASDAQ:MELI) has earned a consensus rating of “Moderate Buy” from the seventeen brokerages that are currently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation, fourteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $2,301.67.

Several analysts recently issued reports on the company. Redburn Atlantic assumed coverage on MercadoLibre in a research note on Friday, October 11th. They issued a “buy” rating and a $2,800.00 price target for the company. JPMorgan Chase & Co. downgraded MercadoLibre from an “overweight” rating to a “neutral” rating and set a $2,400.00 target price for the company. in a research report on Wednesday, October 2nd. BTIG Research upped their target price 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. Dbs Bank upgraded MercadoLibre from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 11th. Finally, StockNews.com cut MercadoLibre from a “buy” rating to a “hold” rating in a report on Saturday, August 10th.

Institutional Investors Weigh In On MercadoLibre

Several large investors have recently added to or reduced their stakes in the business. Ted Buchan & Co grew its stake in MercadoLibre by 142.9% during the third quarter. Ted Buchan & Co now owns 549 shares of the company’s stock worth $1,127,000 after purchasing an additional 323 shares during the period. Mesirow Financial Investment Management Inc. grew its stake in MercadoLibre by 15.9% during the third quarter. Mesirow Financial Investment Management Inc. now owns 160 shares of the company’s stock worth $328,000 after purchasing an additional 22 shares during the period. Atria Investments Inc grew its stake in MercadoLibre by 5.3% during the third quarter. Atria Investments Inc now owns 3,105 shares of the company’s stock worth $6,371,000 after purchasing an additional 157 shares during the period. Resolute Advisors LLC acquired a new stake in MercadoLibre during the third quarter worth approximately $337,000. Finally, Assetmark Inc. grew its stake in MercadoLibre by 11.1% in the third quarter. Assetmark Inc. now owns 4,042 shares of the company’s stock valued at $8,294,000 after acquiring an additional 404 shares during the period. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Stock Up 0.9 %

MELI stock opened at $2,054.90 on Wednesday. The company has a current ratio of 1.28, a quick ratio of 1.26 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $104.18 billion, a PE ratio of 74.26, a PEG ratio of 1.24 and a beta of 1.61. MercadoLibre has a 1-year low of $1,310.31 and a 1-year high of $2,161.73. The business’s 50 day simple moving average is $2,050.38 and its 200 day simple moving average is $1,807.21.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Thursday, August 1st. The company reported $10.48 earnings per share (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 the consensus estimate of $4.64 billion. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. The firm’s quarterly revenue was up 41.5% on a year-over-year basis. During the same period in the previous year, the company posted $5.16 EPS. As a group, research analysts anticipate that MercadoLibre will post 37.7 EPS for the current year.

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.