Brokerages Set MercadoLibre, Inc. (NASDAQ:MELI) Target Price at $2,141.25

Shares of MercadoLibre, Inc. (NASDAQ:MELI) have earned an average recommendation of “Buy” from the fourteen research firms that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $2,182.92.

A number of equities research analysts recently issued reports on MELI shares. New Street Research lowered MercadoLibre from a “buy” rating to a “neutral” rating in a research report on Friday, May 24th. Citigroup lifted their price objective on shares of MercadoLibre from $2,000.00 to $2,200.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Susquehanna boosted their price objective on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a research report on Wednesday, August 28th. Jefferies Financial Group raised shares of MercadoLibre from a “hold” rating to a “buy” rating and raised their target price for the company from $1,400.00 to $2,100.00 in a research report on Monday, May 20th. Finally, StockNews.com cut shares of MercadoLibre from a “buy” rating to a “hold” rating in a research report on Saturday, August 10th.

Hedge Funds Weigh In On MercadoLibre

A number of institutional investors have recently bought and sold shares of MELI. Migdal Insurance & Financial Holdings Ltd. increased its holdings in shares of MercadoLibre by 1,600.0% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock worth $28,000 after acquiring an additional 16 shares during the last quarter. First PREMIER Bank acquired a new position in shares of MercadoLibre in the first quarter valued at $27,000. Financial Connections Group Inc. bought a new position in shares of MercadoLibre in the second quarter valued at about $36,000. DSM Capital Partners LLC acquired a new stake in shares of MercadoLibre during the 4th quarter worth about $36,000. Finally, Scarborough Advisors LLC bought a new stake in shares of MercadoLibre during the 4th quarter worth about $36,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Stock Down 0.8 %

MercadoLibre stock opened at $2,105.51 on Tuesday. MercadoLibre has a twelve month low of $1,141.04 and a twelve month high of $2,143.96. The company has a quick ratio of 1.26, a current ratio of 1.28 and a debt-to-equity ratio of 0.67. The company has a 50 day moving average of $1,869.28 and a 200-day moving average of $1,677.47. The stock has a market capitalization of $106.74 billion, a PE ratio of 94.21, a price-to-earnings-growth ratio of 1.33 and a beta of 1.61.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Thursday, August 1st. The company reported $10.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.53 by $1.95. The firm had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $4.64 billion. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. The company’s revenue was up 41.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.16 EPS. On average, equities research analysts anticipate that MercadoLibre will post 35.22 EPS for the current fiscal year.

About MercadoLibre

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.