MercadoLibre, Inc. (NASDAQ:MELI) Given Average Rating of “Moderate Buy” by Analysts

MercadoLibre, Inc. (NASDAQ:MELI) has been assigned a consensus rating of “Moderate Buy” from the twelve brokerages that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $1,881.92.

A number of analysts have issued reports on MELI shares. DZ Bank upgraded shares of MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 price target on the stock in a research note on Tuesday, April 23rd. Wedbush reiterated an “outperform” rating and set a $1,800.00 target price on shares of MercadoLibre in a report on Friday, May 3rd. Barclays boosted their price target on shares of MercadoLibre from $1,800.00 to $2,000.00 and gave the stock an “overweight” rating in a research note on Monday, May 13th. UBS Group reduced their price objective on MercadoLibre from $1,900.00 to $1,800.00 and set a “buy” rating on the stock in a research note on Wednesday, April 17th. Finally, Citigroup cut their price target on MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating on the stock in a report on Wednesday, March 27th.

MercadoLibre Stock Performance

Shares of MELI stock opened at $1,597.60 on Thursday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.25 and a current ratio of 1.27. The firm has a market cap of $81.00 billion, a P/E ratio of 71.05, a P/E/G ratio of 1.20 and a beta of 1.60. The firm’s 50 day moving average price is $1,616.76 and its 200-day moving average price is $1,607.24. MercadoLibre has a one year low of $1,063.02 and a one year high of $1,825.00.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Thursday, May 2nd. The company reported $6.78 EPS for the quarter, topping analysts’ consensus estimates of $6.64 by $0.14. MercadoLibre had a return on equity of 39.46% and a net margin of 7.17%. The company had revenue of $4.33 billion for the quarter, compared to analysts’ expectations of $3.84 billion. During the same period in the prior year, the firm earned $3.97 earnings per share. The firm’s revenue was up 36.0% compared to the same quarter last year. As a group, equities research analysts predict that MercadoLibre will post 33.81 EPS for the current year.

Institutional Trading of MercadoLibre

A number of large investors have recently made changes to their positions in the company. Cypress Asset Management Inc. TX increased its holdings in shares of MercadoLibre by 4.0% in the 1st quarter. Cypress Asset Management Inc. TX now owns 3,952 shares of the company’s stock valued at $5,989,000 after acquiring an additional 153 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of MercadoLibre by 31.7% during the first quarter. EverSource Wealth Advisors LLC now owns 54 shares of the company’s stock worth $79,000 after buying an additional 13 shares during the period. Spear Holdings RSC Ltd purchased a new position in shares of MercadoLibre during the first quarter worth about $29,030,000. Cetera Advisors LLC increased its position in MercadoLibre by 107.3% in the 1st quarter. Cetera Advisors LLC now owns 1,988 shares of the company’s stock valued at $3,006,000 after acquiring an additional 1,029 shares during the period. Finally, Cetera Investment Advisers grew its stake in shares of MercadoLibre by 290.7% in the 1st quarter. Cetera Investment Advisers now owns 5,771 shares of the company’s stock valued at $8,726,000 after purchasing an additional 4,294 shares during the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

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.