MercadoLibre, Inc. (NASDAQ:MELI) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of MercadoLibre, Inc. (NASDAQ:MELI) have received an average rating of “Moderate Buy” from the sixteen brokerages that are covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $2,246.07.

Several analysts have recently issued reports on MELI shares. Citigroup boosted their price objective on shares of MercadoLibre from $2,000.00 to $2,200.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Cantor Fitzgerald reiterated an “overweight” rating and set a $2,530.00 price objective on shares of MercadoLibre in a research note on Monday, September 23rd. Susquehanna raised their target price on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a research note on Wednesday, August 28th. Dbs Bank raised shares of MercadoLibre from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 11th. Finally, StockNews.com cut MercadoLibre from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th.

MercadoLibre Stock Performance

NASDAQ MELI opened at $1,960.00 on Friday. The business’s 50-day moving average price is $1,975.39 and its 200 day moving average price is $1,726.57. The company has a current ratio of 1.28, a quick ratio of 1.26 and a debt-to-equity ratio of 0.67. MercadoLibre has a twelve month low of $1,141.04 and a twelve month high of $2,161.73. The company has a market capitalization of $99.37 billion, a PE ratio of 87.70, a price-to-earnings-growth ratio of 1.34 and a beta of 1.61.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Thursday, August 1st. The company reported $10.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.53 by $1.95. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. The business had revenue of $5.07 billion for the quarter, compared to analysts’ expectations of $4.64 billion. During the same period last year, the company earned $5.16 earnings per share. The company’s quarterly revenue was up 41.5% on a year-over-year basis. On average, research analysts predict that MercadoLibre will post 35.79 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. First PREMIER Bank acquired a new position in MercadoLibre during the 1st quarter worth $27,000. Migdal Insurance & Financial Holdings Ltd. increased its stake in 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 buying an additional 16 shares during the period. Scarborough Advisors LLC acquired a new position in shares of MercadoLibre during the 4th quarter valued at $36,000. Financial Connections Group Inc. purchased a new stake in shares of MercadoLibre during the second quarter valued at $36,000. Finally, Transcendent Capital Group LLC acquired a new position in MercadoLibre in the 4th quarter worth approximately $38,000. 87.62% of the stock is 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.