MercadoLibre, Inc. (NASDAQ:MELI) Receives $2,810.88 Average PT from Brokerages

Shares of MercadoLibre, Inc. (NASDAQ:MELI) have been given an average recommendation of “Moderate Buy” by the seventeen research firms that are presently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation, fourteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $2,810.8824.

A number of analysts have recently issued reports on MELI shares. Barclays cut their price target on shares of MercadoLibre from $3,100.00 to $3,000.00 and set an “overweight” rating for the company in a report on Wednesday, July 23rd. Daiwa Capital Markets started coverage on shares of MercadoLibre in a report on Friday, August 1st. They set a “buy” rating and a $3,000.00 price target for the company. Raymond James Financial restated a “strong-buy” rating and set a $2,750.00 price target on shares of MercadoLibre in a report on Tuesday, August 5th. Cantor Fitzgerald raised their price target on shares of MercadoLibre from $2,700.00 to $2,900.00 and gave the stock an “overweight” rating in a report on Wednesday, September 24th. Finally, JPMorgan Chase & Co. dropped their target price on shares of MercadoLibre from $2,700.00 to $2,600.00 and set a “neutral” rating for the company in a report on Friday, October 3rd.

MercadoLibre Trading Down 0.9%

MELI opened at $2,024.98 on Wednesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.20 and a quick ratio of 1.18. The company’s 50 day simple moving average is $2,336.31 and its two-hundred day simple moving average is $2,346.74. MercadoLibre has a 1-year low of $1,646.00 and a 1-year high of $2,645.22. The firm has a market capitalization of $102.67 billion, a price-to-earnings ratio of 50.01, a price-to-earnings-growth ratio of 1.38 and a beta of 1.46.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Monday, August 4th. The company reported $10.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $12.01 by ($1.70). The firm had revenue of $6.79 billion for the quarter, compared to analyst estimates of $6.57 billion. MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The firm’s quarterly revenue was up 33.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $10.48 EPS. Analysts expect that MercadoLibre will post 43.96 EPS for the current fiscal year.

Institutional Trading of MercadoLibre

Several institutional investors have recently added to or reduced their stakes in MELI. Lavaca Capital LLC increased its holdings in MercadoLibre by 140,201.3% in the 2nd quarter. Lavaca Capital LLC now owns 1,066,290 shares of the company’s stock valued at $2,786,888,000 after purchasing an additional 1,065,530 shares during the last quarter. Norges Bank acquired a new position in shares of MercadoLibre in the second quarter worth $698,848,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in shares of MercadoLibre by 304.7% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 255,103 shares of the company’s stock worth $666,744,000 after acquiring an additional 192,071 shares in the last quarter. Invesco Ltd. grew its stake in shares of MercadoLibre by 22.4% in the first quarter. Invesco Ltd. now owns 570,967 shares of the company’s stock worth $1,113,881,000 after acquiring an additional 104,554 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of MercadoLibre by 21.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 550,433 shares of the company’s stock worth $1,073,823,000 after acquiring an additional 96,283 shares in the last quarter. 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.