MercadoLibre (NASDAQ:MELI) Research Coverage Started at Redburn Atlantic

Redburn Atlantic initiated coverage on shares of MercadoLibre (NASDAQ:MELI) in a report issued on Friday, Marketbeat Ratings reports. The firm issued a buy rating and a $2,800.00 target price on the stock.

A number of other equities analysts have also weighed in on MELI. Susquehanna lifted their price objective on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the company a positive rating in a research report on Wednesday, August 28th. BTIG Research lifted their target price on shares of MercadoLibre from $2,025.00 to $2,250.00 and gave the company a buy rating in a report on Wednesday, August 21st. The Goldman Sachs Group increased their price target on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a buy rating in a report on Thursday, August 8th. JPMorgan Chase & Co. lowered MercadoLibre from an overweight rating to a neutral rating and set a $2,400.00 price objective on the stock. in a report on Wednesday, October 2nd. Finally, Bank of America increased their target price on MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a buy rating in a research note on Thursday, September 12th. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $2,283.00.

MercadoLibre Price Performance

Shares of NASDAQ:MELI opened at $2,091.16 on Friday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.26 and a current ratio of 1.28. MercadoLibre has a one year low of $1,141.04 and a one year high of $2,161.73. The company has a 50-day simple moving average of $2,012.56 and a 200-day simple moving average of $1,746.46. The stock has a market capitalization of $106.02 billion, a price-to-earnings ratio of 93.56, a PEG ratio of 1.25 and a beta of 1.61.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Thursday, August 1st. The company reported $10.48 EPS for the quarter, beating the consensus estimate of $8.53 by $1.95. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. The firm had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $4.64 billion. During the same period in the prior year, the business earned $5.16 EPS. The firm’s revenue was up 41.5% compared to the same quarter last year. On average, analysts predict that MercadoLibre will post 37.55 EPS for the current year.

Institutional Investors Weigh In On MercadoLibre

Large investors have recently added to or reduced their stakes in the business. Raymond James & Associates lifted its holdings in shares of MercadoLibre by 4.8% in the second quarter. Raymond James & Associates now owns 34,840 shares of the company’s stock valued at $57,256,000 after purchasing an additional 1,604 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in MercadoLibre by 20.3% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 27,642 shares of the company’s stock valued at $41,794,000 after buying an additional 4,658 shares during the last quarter. Gulf International Bank UK Ltd increased its position in MercadoLibre by 33.4% during the first quarter. Gulf International Bank UK Ltd now owns 4,960 shares of the company’s stock worth $7,499,000 after buying an additional 1,241 shares in the last quarter. Caprock Group LLC raised its holdings in shares of MercadoLibre by 143.7% in the second quarter. Caprock Group LLC now owns 580 shares of the company’s stock worth $955,000 after acquiring an additional 342 shares during the last quarter. Finally, Sarasin & Partners LLP lifted its position in shares of MercadoLibre by 168.5% in the second quarter. Sarasin & Partners LLP now owns 45,407 shares of the company’s stock valued at $74,622,000 after acquiring an additional 28,494 shares in the last quarter. 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.