Brokerages Set MercadoLibre, Inc. (NASDAQ:MELI) Target Price at $2,842.94

Shares of MercadoLibre, Inc. (NASDAQ:MELI) have earned a consensus recommendation of “Moderate Buy” from the nineteen brokerages that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $2,876.8750.

A number of research firms have recently issued reports on MELI. Barclays boosted their price target on shares of MercadoLibre from $2,800.00 to $2,900.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Zacks Research lowered shares of MercadoLibre from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 1st. Wedbush decreased their price target on MercadoLibre from $2,800.00 to $2,700.00 and set an “outperform” rating for the company in a research note on Friday, December 19th. Morgan Stanley lifted their target price on shares of MercadoLibre from $2,850.00 to $2,950.00 and gave the stock an “overweight” rating in a report on Monday, November 3rd. Finally, Weiss Ratings cut MercadoLibre from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, January 8th.

MercadoLibre Trading Down 2.2%

Shares of NASDAQ:MELI opened at $2,218.14 on Friday. The company has a 50 day moving average of $2,069.09 and a 200-day moving average of $2,219.71. The company has a current ratio of 1.17, a quick ratio of 1.15 and a debt-to-equity ratio of 0.55. The firm has a market cap of $112.46 billion, a P/E ratio of 54.13, a P/E/G ratio of 1.13 and a beta of 1.42. MercadoLibre has a twelve month low of $1,723.90 and a twelve month high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Wednesday, October 29th. The company reported $8.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.88 by ($1.56). The business had revenue of $7.41 billion during the quarter, compared to analyst estimates of $7.19 billion. MercadoLibre had a return on equity of 39.03% and a net margin of 7.93%.The business’s revenue for the quarter was up 39.5% on a year-over-year basis. During the same period in the prior year, the firm earned $7.83 EPS. As a group, analysts anticipate that MercadoLibre will post 43.96 earnings per share for the current fiscal year.

Insider Transactions at MercadoLibre

In other news, Director Henrique Vasoncelos Dubugras sold 845 shares of the business’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $2,028.14, for a total transaction of $1,713,778.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Stelleo Tolda sold 246 shares of the firm’s stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $2,047.88, for a total value of $503,778.48. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 1,136 shares of company stock valued at $2,308,788. 0.25% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in MELI. Baillie Gifford & Co. raised its holdings in shares of MercadoLibre by 4.9% in the fourth quarter. Baillie Gifford & Co. now owns 3,481,563 shares of the company’s stock valued at $7,012,773,000 after buying an additional 164,120 shares during the last quarter. Capital Research Global Investors lifted its position in shares of MercadoLibre by 3.4% during the third quarter. Capital Research Global Investors now owns 1,816,092 shares of the company’s stock worth $4,244,604,000 after purchasing an additional 59,838 shares in the last quarter. Capital World Investors grew its stake in shares of MercadoLibre by 1.3% during the third quarter. Capital World Investors now owns 1,740,129 shares of the company’s stock valued at $4,067,194,000 after purchasing an additional 22,659 shares during the last quarter. Jennison Associates LLC increased its holdings in shares of MercadoLibre by 7.0% in the second quarter. Jennison Associates LLC now owns 1,235,240 shares of the company’s stock valued at $3,228,460,000 after purchasing an additional 81,124 shares in the last quarter. Finally, Lavaca Capital LLC raised its position in MercadoLibre by 140,201.3% in the 2nd quarter. Lavaca Capital LLC now owns 1,066,290 shares of the company’s stock worth $2,786,888,000 after purchasing an additional 1,065,530 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

About MercadoLibre

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.