MercadoLibre (NASDAQ:MELI) Price Target Raised to $2,500.00

MercadoLibre (NASDAQ:MELI) had its target price upped by equities researchers at Barclays from $2,100.00 to $2,500.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s target price points to a potential upside of 26.89% from the company’s previous close.

MELI has been the subject of a number of other research reports. The Goldman Sachs Group raised their price objective on MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Susquehanna upped their price objective on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a report on Wednesday, August 28th. Citigroup lifted their price objective on shares of MercadoLibre from $2,000.00 to $2,200.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. JPMorgan Chase & Co. downgraded shares of MercadoLibre from an “overweight” rating to a “neutral” rating and set a $2,400.00 price objective for the company. in a research report on Wednesday. Finally, Dbs Bank upgraded MercadoLibre from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 11th. Three investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $2,246.07.

MercadoLibre Stock Down 4.6 %

MELI traded down $95.90 on Wednesday, hitting $1,970.22. The company had a trading volume of 352,016 shares, compared to its average volume of 354,980. The stock has a market capitalization of $99.88 billion, a price-to-earnings ratio of 88.06, a P/E/G ratio of 1.34 and a beta of 1.61. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.26 and a current ratio of 1.28. The stock has a fifty day moving average price of $1,955.98 and a 200-day moving average price of $1,720.04. MercadoLibre has a 12-month low of $1,141.04 and a 12-month high of $2,161.73.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Thursday, August 1st. The company reported $10.48 EPS for the quarter, topping the consensus estimate of $8.53 by $1.95. The firm had revenue of $5.07 billion during 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%. MercadoLibre’s revenue was up 41.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $5.16 EPS. Analysts predict that MercadoLibre will post 35.79 EPS for the current fiscal year.

Institutional Investors Weigh In On MercadoLibre

A number of institutional investors have recently made changes to their positions in MELI. First PREMIER Bank purchased a new position in shares of MercadoLibre during the 1st quarter worth approximately $27,000. Migdal Insurance & Financial Holdings Ltd. lifted its stake in MercadoLibre by 1,600.0% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock worth $28,000 after purchasing an additional 16 shares in the last quarter. Scarborough Advisors LLC purchased a new position in shares of MercadoLibre during the fourth quarter worth $36,000. Financial Connections Group Inc. acquired a new stake in shares of MercadoLibre in the second quarter valued at $36,000. Finally, Transcendent Capital Group LLC purchased a new stake in shares of MercadoLibre in the 4th quarter valued at $38,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.

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.