MercadoLibre (NASDAQ:MELI) Price Target Raised to $2,150.00

MercadoLibre (NASDAQ:MELIFree Report) had its price objective raised by JPMorgan Chase & Co. from $1,900.00 to $2,150.00 in a research note published on Tuesday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

Other analysts have also recently issued reports about the stock. UBS Group lowered their price objective on shares of MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating for the company in a research note on Wednesday, May 13th. Daiwa Securities Group lowered MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 target price on the stock. in a research report on Friday, May 8th. Citigroup lifted their target price on MercadoLibre from $1,950.00 to $2,000.00 and gave the company a “neutral” rating in a report on Wednesday, July 15th. The Goldman Sachs Group set a $2,100.00 price target on MercadoLibre in a research report on Wednesday, May 13th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of MercadoLibre in a research note on Thursday, July 2nd. Eleven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $2,272.00.

Get Our Latest Research Report on MercadoLibre

MercadoLibre Price Performance

MercadoLibre stock opened at $1,828.25 on Tuesday. MercadoLibre has a 1 year low of $1,495.00 and a 1 year high of $2,548.50. The firm has a 50 day moving average price of $1,762.73 and a 200 day moving average price of $1,788.29. The company has a market cap of $92.69 billion, a price-to-earnings ratio of 49.72, a PEG ratio of 1.26 and a beta of 1.34. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.10 and a current ratio of 1.12.

MercadoLibre (NASDAQ:MELIGet Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $9.19 EPS for the quarter, topping the consensus estimate of $8.65 by $0.54. The firm had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.79 billion. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. MercadoLibre’s revenue for the quarter was up 49.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $10.31 earnings per share. Sell-side analysts predict that MercadoLibre will post 38.98 earnings per share for the current year.

Insider Transactions at MercadoLibre

In other MercadoLibre news, Director Alejandro Nicolas Aguzin acquired 600 shares of the company’s stock in a transaction dated Friday, May 22nd. The stock was bought at an average price of $1,655.93 per share, with a total value of $993,558.00. Following the completion of the transaction, the director directly owned 5,355 shares of the company’s stock, valued at approximately $8,867,505.15. The trade was a 12.62% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.26% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On MercadoLibre

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Capital Research Global Investors raised its position in MercadoLibre by 22.5% in the fourth quarter. Capital Research Global Investors now owns 2,225,031 shares of the company’s stock valued at $4,481,812,000 after purchasing an additional 408,939 shares during the period. Capital International Investors boosted its position in shares of MercadoLibre by 7.3% in the fourth quarter. Capital International Investors now owns 1,725,125 shares of the company’s stock worth $3,474,880,000 after buying an additional 118,018 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of MercadoLibre by 9.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,583,071 shares of the company’s stock worth $3,188,718,000 after buying an additional 137,100 shares during the period. BlackRock Inc. purchased a new stake in shares of MercadoLibre in the second quarter worth about $2,246,015,000. Finally, Janus Henderson Group PLC grew its stake in shares of MercadoLibre by 1.7% in the first quarter. Janus Henderson Group PLC now owns 614,238 shares of the company’s stock valued at $1,062,019,000 after buying an additional 10,142 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Company Profile

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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.

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Analyst Recommendations for MercadoLibre (NASDAQ:MELI)

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