Credit Suisse Group Raises Mercadolibre (NASDAQ:MELI) Price Target to $1,255.00

Mercadolibre (NASDAQ:MELI) had its price objective raised by Credit Suisse Group from $770.00 to $1,255.00 in a research note published on Thursday morning, The Fly reports. The firm currently has an outperform rating on the stock.

Other research analysts have also issued reports about the stock. Cantor Fitzgerald began coverage on shares of Mercadolibre in a report on Wednesday, April 1st. They set an overweight rating and a $548.00 price objective on the stock. Susquehanna Bancshares downgraded shares of Mercadolibre from a positive rating to a neutral rating and set a $630.00 target price for the company. in a research report on Wednesday, April 22nd. Bradesco Corretora raised shares of Mercadolibre from a neutral rating to an outperform rating and increased their target price for the stock from $985.00 to $1,250.00 in a research report on Monday, July 20th. Stifel Nicolaus reissued a hold rating and set a $750.00 target price (up previously from $655.00) on shares of Mercadolibre in a research report on Wednesday, May 6th. Finally, Zacks Investment Research raised shares of Mercadolibre from a hold rating to a buy rating and set a $846.00 target price for the company in a research report on Wednesday, May 20th. Six research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $827.40.

Shares of MELI stock traded up $17.12 during trading hours on Thursday, hitting $1,124.62. 726,538 shares of the company were exchanged, compared to its average volume of 434,172. The firm has a market cap of $55.90 billion, a PE ratio of -267.77 and a beta of 1.70. Mercadolibre has a 1 year low of $422.22 and a 1 year high of $1,150.82. The company has a quick ratio of 2.22, a current ratio of 2.23 and a debt-to-equity ratio of 0.42. The firm has a fifty day moving average of $981.92 and a 200 day moving average of $736.54.

Mercadolibre (NASDAQ:MELI) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.44) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.48) by $0.04. The business had revenue of $652.09 million for the quarter, compared to analyst estimates of $609.27 million. Mercadolibre had a negative net margin of 8.28% and a negative return on equity of 5.29%. The company’s revenue was up 37.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.13 EPS. Analysts expect that Mercadolibre will post -0.95 earnings per share for the current year.

Several hedge funds have recently added to or reduced their stakes in MELI. HMS Capital Management LLC acquired a new stake in Mercadolibre during the second quarter worth about $271,000. Comerica Bank raised its stake in Mercadolibre by 16.7% during the second quarter. Comerica Bank now owns 1,392 shares of the company’s stock worth $1,419,000 after acquiring an additional 199 shares during the period. Leisure Capital Management acquired a new stake in Mercadolibre during the second quarter worth about $296,000. Harvest Group Wealth Management LLC raised its stake in Mercadolibre by 37.5% during the second quarter. Harvest Group Wealth Management LLC now owns 55 shares of the company’s stock worth $54,000 after acquiring an additional 15 shares during the period. Finally, Kovack Advisors Inc. raised its stake in Mercadolibre by 3.4% during the second quarter. Kovack Advisors Inc. now owns 1,232 shares of the company’s stock worth $1,214,000 after acquiring an additional 41 shares during the period. 80.50% of the stock is owned by institutional investors and hedge funds.

Mercadolibre Company Profile

MercadoLibre, Inc operates online commerce platforms in Latin America. It operates MercadoLibre Marketplace, an automated online commerce platform that enables businesses and individuals to list merchandise and conduct sales and purchases online; and MercadoPago FinTech, 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, and allows merchants to process transactions via their Websites and mobile apps, as well as in their brick-and-mortar stores through QR and mobile points of sale.

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Analyst Recommendations for Mercadolibre (NASDAQ:MELI)

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