MercadoLibre (NASDAQ:MELI) Stock Price Expected to Rise, Susquehanna Analyst Says

MercadoLibre (NASDAQ:MELI) had its target price upped by stock analysts at Susquehanna from $2,350.00 to $2,760.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “positive” rating on the stock. Susquehanna’s price target points to a potential upside of 22.12% from the company’s current price.

A number of other equities analysts have also commented on the stock. Citigroup cut their price objective on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating on the stock in a report on Tuesday, November 26th. Cantor Fitzgerald cut their target price on shares of MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. JPMorgan Chase & Co. cut their target price on shares of MercadoLibre from $2,150.00 to $1,950.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Bank of America upped their target price on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the company a “buy” rating in a research note on Friday. Finally, New Street Research upgraded shares of MercadoLibre from a “neutral” rating to a “buy” rating and upped their target price for the company from $2,000.00 to $2,300.00 in a research note on Thursday, January 30th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $2,364.06.

MercadoLibre Stock Performance

Shares of MELI stock opened at $2,260.00 on Friday. MercadoLibre has a 12 month low of $1,324.99 and a 12 month high of $2,374.54. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. The firm has a market capitalization of $114.58 billion, a P/E ratio of 59.95, a P/E/G ratio of 1.12 and a beta of 1.62. The company’s fifty day moving average price is $1,867.29 and its two-hundred day moving average price is $1,957.32.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data on Thursday, February 20th. The company reported $12.61 EPS for the quarter, topping analysts’ consensus estimates of $10.21 by $2.40. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The firm had revenue of $6.06 billion for the quarter, compared to analyst estimates of $5.94 billion. On average, research analysts anticipate that MercadoLibre will post 43.96 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other MercadoLibre news, Director Emiliano Calemzuk sold 50 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $1,984.98, for a total value of $99,249.00. Following the completion of the transaction, the director now owns 238 shares in the company, valued at approximately $472,425.24. This represents a 17.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.06% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Public Employees Retirement System of Ohio bought a new position in MercadoLibre in the 3rd quarter worth about $114,417,000. Principal Financial Group Inc. grew its position in MercadoLibre by 20.9% in the 3rd quarter. Principal Financial Group Inc. now owns 59,430 shares of the company’s stock worth $121,948,000 after purchasing an additional 10,272 shares during the last quarter. KBC Group NV grew its position in MercadoLibre by 205.5% in the 3rd quarter. KBC Group NV now owns 26,279 shares of the company’s stock worth $53,923,000 after purchasing an additional 17,677 shares during the last quarter. Nordea Investment Management AB grew its position in MercadoLibre by 37.8% in the 4th quarter. Nordea Investment Management AB now owns 157,688 shares of the company’s stock worth $271,897,000 after purchasing an additional 43,215 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd grew its position in MercadoLibre by 40.0% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 2,728 shares of the company’s stock worth $5,598,000 after purchasing an additional 780 shares during the last quarter. Institutional investors own 87.62% of the company’s stock.

About MercadoLibre

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.