MercadoLibre, Inc. (NASDAQ:MELI) Given Average Recommendation of “Buy” by Brokerages

Shares of MercadoLibre, Inc. (NASDAQ:MELI) have been given an average rating of “Buy” by the seventeen brokerages that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $2,402.81.

Several equities research analysts have recently commented on MELI shares. Wedbush lowered their price objective on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating for the company in a research note on Monday, January 6th. The Goldman Sachs Group boosted their price target on MercadoLibre from $2,400.00 to $2,750.00 and gave the company a “buy” rating in a research note on Monday, March 3rd. Susquehanna lifted their target price on MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a “positive” rating in a report on Friday, February 21st. Barclays increased their price target on shares of MercadoLibre from $2,200.00 to $2,500.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Finally, Cantor Fitzgerald lifted their price objective on shares of MercadoLibre from $2,150.00 to $3,000.00 and gave the company an “overweight” rating in a research note on Friday, February 21st.

Hedge Funds Weigh In On MercadoLibre

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MELI. Planning Capital Management Corp boosted its holdings in MercadoLibre by 9.1% in the 3rd quarter. Planning Capital Management Corp now owns 60 shares of the company’s stock worth $123,000 after buying an additional 5 shares during the last quarter. Mount Lucas Management LP raised its position in shares of MercadoLibre by 3.6% in the third quarter. Mount Lucas Management LP now owns 143 shares of the company’s stock valued at $293,000 after buying an additional 5 shares during the last quarter. 1620 Investment Advisors Inc. lifted its stake in shares of MercadoLibre by 2.5% in the fourth quarter. 1620 Investment Advisors Inc. now owns 203 shares of the company’s stock worth $346,000 after buying an additional 5 shares in the last quarter. Texas Yale Capital Corp. boosted its holdings in shares of MercadoLibre by 0.3% during the 4th quarter. Texas Yale Capital Corp. now owns 1,634 shares of the company’s stock worth $2,779,000 after purchasing an additional 5 shares during the last quarter. Finally, Meiji Yasuda Life Insurance Co grew its position in shares of MercadoLibre by 0.5% in the fourth quarter. Meiji Yasuda Life Insurance Co now owns 999 shares of the company’s stock valued at $1,699,000 after purchasing an additional 5 shares in the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Price Performance

NASDAQ MELI opened at $1,944.61 on Tuesday. The firm’s fifty day simple moving average is $1,946.86 and its two-hundred day simple moving average is $1,969.34. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. MercadoLibre has a 12-month low of $1,324.99 and a 12-month high of $2,374.54. The firm has a market capitalization of $98.59 billion, a P/E ratio of 51.58, a P/E/G ratio of 1.12 and a beta of 1.64.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Thursday, February 20th. The company reported $12.61 EPS for the quarter, beating the consensus estimate of $10.21 by $2.40. The firm had revenue of $6.06 billion during the quarter, compared to analyst estimates of $5.94 billion. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. Analysts forecast that MercadoLibre will post 43.96 EPS for the current fiscal year.

About MercadoLibre

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.