Recent Investment Analysts’ Ratings Changes for MercadoLibre (MELI)

MercadoLibre (NASDAQ: MELI) has recently received a number of price target changes and ratings updates:

• 10/2/2024 – MercadoLibre had its price target raised by analysts at Barclays PLC from $2,100.00 to $2,500.00. They now have an “overweight” rating on the stock.
• 10/2/2024 – MercadoLibre was downgraded by analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating. They now have a $2,400.00 price target on the stock.
• 9/27/2024 – MercadoLibre is now covered by analysts at Raymond James. They set an “outperform” rating and a $2,350.00 price target on the stock.
• 9/23/2024 – MercadoLibre had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $2,530.00 price target on the stock.
• 9/20/2024 – MercadoLibre had its price target raised by analysts at Morgan Stanley from $2,175.00 to $2,500.00. They now have an “overweight” rating on the stock.
• 9/12/2024 – MercadoLibre had its price target raised by analysts at Bank of America Co. from $2,250.00 to $2,500.00. They now have a “buy” rating on the stock.
• 9/5/2024 – MercadoLibre is now covered by analysts at Cantor Fitzgerald. They set an “overweight” rating and a $2,530.00 price target on the stock.
• 8/28/2024 – MercadoLibre had its price target raised by analysts at Susquehanna from $2,300.00 to $2,350.00. They now have a “positive” rating on the stock.
• 8/21/2024 – MercadoLibre had its price target raised by analysts at BTIG Research from $2,025.00 to $2,250.00. They now have a “buy” rating on the stock.
• 8/19/2024 – MercadoLibre had its price target raised by analysts at Susquehanna from $2,000.00 to $2,300.00. They now have a “positive” rating on the stock.
• 8/15/2024 – MercadoLibre had its price target raised by analysts at Citigroup Inc. from $2,000.00 to $2,200.00. They now have a “buy” rating on the stock.
• 8/10/2024 – MercadoLibre was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 8/8/2024 – MercadoLibre had its price target raised by analysts at The Goldman Sachs Group, Inc. from $2,180.00 to $2,480.00. They now have a “buy” rating on the stock.
• 8/6/2024 – MercadoLibre had its price target raised by analysts at JPMorgan Chase & Co. from $2,150.00 to $2,400.00. They now have an “overweight” rating on the stock.
• 8/6/2024 – MercadoLibre had its price target raised by analysts at Barclays PLC from $2,000.00 to $2,100.00. They now have an “overweight” rating on the stock.

MercadoLibre Stock Performance

Shares of NASDAQ:MELI traded down $11.10 on Thursday, reaching $1,959.62. 147,167 shares of the company’s stock were exchanged, compared to its average volume of 354,743. The firm has a market capitalization of $99.35 billion, a price-to-earnings ratio of 87.68, a PEG ratio of 1.34 and a beta of 1.61. MercadoLibre, Inc. has a fifty-two week low of $1,141.04 and a fifty-two week high of $2,161.73. The business’s 50-day moving average is $1,962.54 and its two-hundred day moving average is $1,721.79. The company has a quick ratio of 1.26, a current ratio of 1.28 and a debt-to-equity ratio of 0.67.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Thursday, August 1st. The company reported $10.48 earnings per share for the quarter, topping analysts’ consensus estimates of $8.53 by $1.95. The company had revenue of $5.07 billion for the quarter, compared to analysts’ expectations of $4.64 billion. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. The firm’s revenue was up 41.5% compared to the same quarter last year. During the same period in the prior year, the company earned $5.16 earnings per share. As a group, equities research analysts forecast that MercadoLibre, Inc. will post 35.79 EPS for the current year.

Hedge Funds Weigh In On MercadoLibre

Institutional investors and hedge funds have recently bought and sold shares of the stock. First PREMIER Bank bought a new position in MercadoLibre in the 1st quarter valued at about $27,000. Migdal Insurance & Financial Holdings Ltd. boosted its position in shares of MercadoLibre by 1,600.0% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock valued at $28,000 after purchasing an additional 16 shares in the last quarter. Scarborough Advisors LLC bought a new position in shares of MercadoLibre during the 4th quarter valued at about $36,000. Financial Connections Group Inc. bought a new position in shares of MercadoLibre during the 2nd quarter valued at about $36,000. Finally, Transcendent Capital Group LLC bought a new position in shares of MercadoLibre during the 4th quarter valued at about $38,000. Institutional investors own 87.62% of the company’s stock.

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.