MercadoLibre (NASDAQ:MELI) PT Raised to $2,500.00 at Barclays

MercadoLibre (NASDAQ:MELI) had its price target hoisted by Barclays from $2,100.00 to $2,500.00 in a report issued on Wednesday, Benzinga reports. They currently have an overweight rating on the stock.

A number of other research firms also recently issued reports on MELI. JPMorgan Chase & Co. downgraded MercadoLibre from an overweight rating to a neutral rating and set a $2,400.00 price target for the company. in a research report on Wednesday. Dbs Bank raised shares of MercadoLibre from a hold rating to a strong-buy rating in a research report on Thursday, July 11th. BTIG Research lifted their price target on shares of MercadoLibre from $2,025.00 to $2,250.00 and gave the company a buy rating in a research report on Wednesday, August 21st. The Goldman Sachs Group increased their price objective on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a buy rating in a research report on Thursday, August 8th. Finally, Raymond James began coverage on shares of MercadoLibre in a report on Friday, September 27th. They set an outperform rating and a $2,350.00 target price on the stock. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $2,246.07.

MercadoLibre Price Performance

MELI opened at $1,960.00 on Wednesday. MercadoLibre has a 1 year low of $1,141.04 and a 1 year high of $2,161.73. The company’s 50 day simple moving average is $1,975.39 and its 200 day simple moving average is $1,728.02. The stock has a market capitalization of $99.37 billion, a PE ratio of 87.70, a P/E/G ratio of 1.34 and a beta of 1.61. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.26 and a current ratio of 1.28.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Thursday, August 1st. The company reported $10.48 earnings per share for the quarter, beating analysts’ consensus estimates of $8.53 by $1.95. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. The company had revenue of $5.07 billion for the quarter, compared to analyst estimates of $4.64 billion. During the same quarter last year, the business earned $5.16 EPS. MercadoLibre’s revenue for the quarter was up 41.5% on a year-over-year basis. As a group, sell-side analysts expect that MercadoLibre will post 35.79 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Capital World Investors raised its position in shares of MercadoLibre by 12.7% in the 1st quarter. Capital World Investors now owns 845,749 shares of the company’s stock valued at $1,278,738,000 after purchasing an additional 95,029 shares in the last quarter. GQG Partners LLC raised its holdings in MercadoLibre by 442.2% in the first quarter. GQG Partners LLC now owns 794,782 shares of the company’s stock valued at $1,201,679,000 after acquiring an additional 648,198 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in MercadoLibre by 43.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company’s stock valued at $1,167,073,000 after acquiring an additional 232,787 shares during the last quarter. Janus Henderson Group PLC grew its holdings in MercadoLibre by 55.8% during the 1st quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock worth $557,225,000 after acquiring an additional 132,028 shares in the last quarter. Finally, Legal & General Group Plc increased its position in shares of MercadoLibre by 3.6% in the 2nd quarter. Legal & General Group Plc now owns 323,570 shares of the company’s stock worth $531,755,000 after purchasing an additional 11,265 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

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.