Brokerages Set MercadoLibre, Inc. (NASDAQ:MELI) Price Target at $2,402.81

MercadoLibre, Inc. (NASDAQ:MELI) has earned an average recommendation of “Buy” from the seventeen analysts that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $2,402.81.

MELI has been the subject of a number of research analyst reports. JPMorgan Chase & Co. increased their target price on shares of MercadoLibre from $1,950.00 to $2,300.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 25th. Susquehanna raised their price objective on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a “positive” rating in a report on Friday, February 21st. Raymond James raised shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price objective for the company in a report on Tuesday, January 21st. New Street Research upgraded MercadoLibre from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $2,000.00 to $2,300.00 in a research report on Thursday, January 30th. Finally, Barclays boosted their price objective on MercadoLibre from $2,200.00 to $2,500.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st.

Hedge Funds Weigh In On MercadoLibre

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MELI. Human Investing LLC acquired a new stake in shares of MercadoLibre during the 4th quarter valued at $26,000. Park Square Financial Group LLC acquired a new position in shares of MercadoLibre during the 4th quarter worth about $26,000. Pacific Capital Wealth Advisors Inc. increased its position in MercadoLibre by 220.0% during the fourth quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company’s stock worth $27,000 after acquiring an additional 11 shares during the period. Brown Lisle Cummings Inc. lifted its stake in shares of MercadoLibre by 100.0% in the fourth quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company’s stock valued at $27,000 after buying an additional 8 shares during the period. Finally, Covestor Ltd bought a new stake in shares of MercadoLibre during the fourth quarter valued at approximately $27,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Stock Performance

MercadoLibre stock opened at $1,950.87 on Friday. 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 market capitalization of $98.90 billion, a price-to-earnings ratio of 51.75, a PEG ratio of 1.12 and a beta of 1.64. The stock has a fifty day moving average of $2,030.68 and a two-hundred day moving average of $1,972.33. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results on Thursday, February 20th. The company reported $12.61 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $5.94 billion. On average, analysts anticipate that MercadoLibre will post 43.96 EPS for the current fiscal 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.