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

MercadoLibre (NASDAQ:MELI) had its price target raised by analysts at Barclays from $2,200.00 to $2,500.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price target points to a potential upside of 10.62% from the company’s previous close.

A number of other equities research analysts also recently commented on the company. Wedbush lowered their price objective on MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating for the company in a research report on Monday, January 6th. Cantor Fitzgerald lowered their price objective on MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating for the company in a research report on Thursday, November 7th. BTIG Research lowered their price objective on MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. New Street Research raised MercadoLibre from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $2,000.00 to $2,300.00 in a research report on Thursday, January 30th. Finally, Citigroup lowered their price objective on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a research report on Tuesday, November 26th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $2,364.06.

MercadoLibre Stock Performance

MercadoLibre stock opened at $2,260.00 on Friday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. The stock has a fifty day moving average of $1,867.29 and a two-hundred day moving average of $1,957.32. The company has a market capitalization of $114.58 billion, a price-to-earnings ratio of 59.95, a PEG ratio of 1.12 and a beta of 1.62. MercadoLibre has a fifty-two week low of $1,324.99 and a fifty-two week high of $2,374.54.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Thursday, February 20th. The company reported $12.61 earnings per share for the quarter, topping the consensus estimate of $10.21 by $2.40. The company had revenue of $6.06 billion during the quarter, compared to the consensus estimate of $5.94 billion. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. On average, analysts anticipate that MercadoLibre will post 43.96 EPS for the current fiscal year.

Insiders Place Their Bets

In other MercadoLibre news, Director Emiliano Calemzuk sold 50 shares of the business’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $1,984.98, for a total transaction of $99,249.00. Following the transaction, the director now owns 238 shares in the company, valued at $472,425.24. The trade was a 17.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.06% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Human Investing LLC acquired a new position in shares of MercadoLibre during the fourth quarter worth about $26,000. Pacific Capital Wealth Advisors Inc. lifted its stake in shares of MercadoLibre by 220.0% in the fourth quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company’s stock worth $27,000 after acquiring an additional 11 shares in the last quarter. Brown Lisle Cummings Inc. lifted its stake in shares of MercadoLibre by 100.0% in the fourth quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company’s stock worth $27,000 after acquiring an additional 8 shares in the last quarter. Covestor Ltd acquired a new position in shares of MercadoLibre in the fourth quarter worth about $27,000. Finally, Heck Capital Advisors LLC acquired a new position in shares of MercadoLibre in the fourth quarter worth about $32,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

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.