MercadoLibre, Inc. (NASDAQ:MELI) Receives $2,402.81 Consensus Price Target from Brokerages

MercadoLibre, Inc. (NASDAQ:MELI) has been given a consensus rating of “Buy” by the seventeen analysts that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $2,402.81.

MELI has been the subject of a number of research analyst reports. Cantor Fitzgerald increased their price objective on shares of MercadoLibre from $2,150.00 to $3,000.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Barclays raised their target price on shares of MercadoLibre from $2,200.00 to $2,500.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Citigroup decreased their price target on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating on the stock in a research note on Tuesday, November 26th. JPMorgan Chase & Co. raised their price objective on MercadoLibre from $1,950.00 to $2,300.00 and gave the company a “neutral” rating in a research report on Tuesday, February 25th. Finally, Susquehanna lifted their target price on MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a “positive” rating in a report on Friday, February 21st.

MercadoLibre Trading Down 3.2 %

Shares of MercadoLibre stock opened at $2,045.25 on Tuesday. MercadoLibre has a fifty-two week low of $1,324.99 and a fifty-two week high of $2,374.54. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. The company has a market capitalization of $103.69 billion, a P/E ratio of 54.25, a P/E/G ratio of 1.12 and a beta of 1.62. The company has a fifty day moving average of $1,936.73 and a 200 day moving average of $1,970.29.

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

Institutional Investors Weigh In On MercadoLibre

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Siemens Fonds Invest GmbH grew its stake in shares of MercadoLibre by 480.4% during the fourth quarter. Siemens Fonds Invest GmbH now owns 11,886 shares of the company’s stock valued at $20,211,000 after buying an additional 9,838 shares during the last quarter. Park Square Financial Group LLC bought a new position in MercadoLibre in the 4th quarter valued at $26,000. Employees Retirement System of Texas increased its stake in MercadoLibre by 1,321.2% in the fourth quarter. Employees Retirement System of Texas now owns 30,200 shares of the company’s stock worth $51,353,000 after purchasing an additional 28,075 shares during the period. Jefferies Financial Group Inc. lifted its position in shares of MercadoLibre by 569.5% during the fourth quarter. Jefferies Financial Group Inc. now owns 1,031 shares of the company’s stock worth $1,753,000 after purchasing an additional 877 shares during the last quarter. Finally, Bernard Wealth Management Corp. bought a new stake in shares of MercadoLibre during the fourth quarter worth $48,000. 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.