MercadoLibre’s (MELI) Buy (B-) Rating Reiterated at Weiss Ratings

Weiss Ratings restated their buy (b-) rating on shares of MercadoLibre (NASDAQ:MELI) in a research note released on Friday,Weiss Ratings reports.

Several other research firms have also recently issued reports on MELI. Susquehanna cut their price objective on MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating for the company in a research report on Monday, October 13th. Jefferies Financial Group reaffirmed a “hold” rating and set a $2,800.00 price target on shares of MercadoLibre in a research note on Tuesday, August 5th. JPMorgan Chase & Co. reduced their price objective on shares of MercadoLibre from $2,700.00 to $2,600.00 and set a “neutral” rating for the company in a research note on Friday, October 3rd. Barclays boosted their price objective on shares of MercadoLibre from $2,800.00 to $2,900.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Benchmark lowered their target price on shares of MercadoLibre from $2,875.00 to $2,780.00 and set a “buy” rating on the stock in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $2,796.47.

MercadoLibre Price Performance

Shares of MELI opened at $2,328.90 on Friday. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.61. The stock’s 50 day moving average is $2,310.58 and its two-hundred day moving average is $2,374.68. MercadoLibre has a twelve month low of $1,646.00 and a twelve month high of $2,645.22. The firm has a market capitalization of $118.07 billion, a PE ratio of 56.83, a P/E/G ratio of 1.56 and a beta of 1.46.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Wednesday, October 29th. The company reported $8.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.88 by ($1.56). The business had revenue of $7.41 billion for the quarter, compared to analysts’ expectations of $7.19 billion. MercadoLibre had a return on equity of 41.35% and a net margin of 7.93%.The business’s quarterly revenue was up 39.5% on a year-over-year basis. During the same period last year, the company posted $7.83 earnings per share. Research analysts anticipate that MercadoLibre will post 43.96 earnings per share for the current year.

Hedge Funds Weigh In On MercadoLibre

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Key Financial Inc acquired a new position in shares of MercadoLibre during the 1st quarter worth approximately $25,000. GW&K Investment Management LLC purchased a new position in MercadoLibre during the first quarter worth $25,000. Close Asset Management Ltd raised its holdings in shares of MercadoLibre by 366.7% in the first quarter. Close Asset Management Ltd now owns 14 shares of the company’s stock worth $27,000 after acquiring an additional 11 shares during the last quarter. Brooklyn Investment Group raised its holdings in shares of MercadoLibre by 650.0% in the first quarter. Brooklyn Investment Group now owns 15 shares of the company’s stock worth $29,000 after acquiring an additional 13 shares during the last quarter. Finally, Twin Tree Management LP purchased a new stake in shares of MercadoLibre in the first quarter valued at $29,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

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.