MercadoLibre, Inc. (NASDAQ:MELI – Get Free Report) has received an average recommendation of “Moderate Buy” from the seventeen analysts that are currently covering the stock, MarketBeat.com reports. Six research analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $2,272.00.
Several research analysts have weighed in on MELI shares. Zacks Research raised shares of MercadoLibre from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Weiss Ratings reissued a “hold (c)” rating on shares of MercadoLibre in a research note on Thursday, July 2nd. The Goldman Sachs Group set a $2,100.00 price objective on shares of MercadoLibre in a report on Wednesday, May 13th. Cantor Fitzgerald increased their price objective on shares of MercadoLibre from $2,150.00 to $2,300.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Finally, UBS Group dropped their target price on shares of MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating for the company in a report on Wednesday, May 13th.
Read Our Latest Report on MercadoLibre
MercadoLibre Stock Performance
MercadoLibre (NASDAQ:MELI – Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $9.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.65 by $0.54. The firm had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.79 billion. MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%.The company’s quarterly revenue was up 49.8% on a year-over-year basis. During the same period last year, the company earned $10.31 EPS. Equities analysts anticipate that MercadoLibre will post 39.11 earnings per share for the current year.
Insider Buying and Selling
In other news, Director Alejandro Nicolas Aguzin purchased 600 shares of the stock in a transaction dated Friday, May 22nd. The stock was acquired at an average cost of $1,655.93 per share, for a total transaction of $993,558.00. Following the completion of the transaction, the director directly owned 5,355 shares in the company, valued at approximately $8,867,505.15. This represents a 12.62% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 0.26% of the stock is owned by company insiders.
Institutional Investors Weigh In On MercadoLibre
A number of institutional investors have recently modified their holdings of the company. Laurel Wealth Advisors LLC purchased a new position in MercadoLibre during the 4th quarter valued at about $26,000. Transamerica Financial Advisors LLC purchased a new stake in MercadoLibre during the fourth quarter worth about $26,000. Purpose Unlimited Inc. purchased a new stake in MercadoLibre during the fourth quarter worth about $28,000. Wedbush Fund Advisers LLC acquired a new stake in shares of MercadoLibre during the second quarter worth about $29,000. Finally, Darwin Wealth Management LLC acquired a new stake in shares of MercadoLibre during the second quarter worth about $29,000. 87.62% of the stock is owned by institutional investors and hedge funds.
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.
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