MercadoLibre (NASDAQ:MELI) Price Target Raised to $2,500.00

MercadoLibre (NASDAQ:MELI) had its price objective boosted by stock analysts at Barclays from $2,100.00 to $2,500.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price objective indicates a potential upside of 27.60% from the company’s current price.

A number of other equities analysts have also commented on the stock. Morgan Stanley boosted their price target on shares of MercadoLibre from $2,175.00 to $2,500.00 and gave the company an “overweight” rating in a research report on Friday, September 20th. StockNews.com lowered MercadoLibre from a “buy” rating to a “hold” rating in a research report on Saturday, August 10th. JPMorgan Chase & Co. downgraded MercadoLibre from an “overweight” rating to a “neutral” rating and set a $2,400.00 price objective for the company. in a research report on Wednesday. The Goldman Sachs Group increased their target price on MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Finally, Citigroup lifted their price target on MercadoLibre from $2,000.00 to $2,200.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $2,246.07.

MercadoLibre Stock Down 0.6 %

NASDAQ MELI opened at $1,959.20 on Wednesday. MercadoLibre has a 1-year low of $1,141.04 and a 1-year high of $2,161.73. The company has a market capitalization of $99.33 billion, a price-to-earnings ratio of 87.66, a PEG ratio of 1.34 and a beta of 1.61. The stock’s 50 day moving average is $1,969.22 and its two-hundred day moving average is $1,723.44. The company has a current ratio of 1.28, a quick ratio of 1.26 and a debt-to-equity ratio of 0.67.

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in MELI. Orion Portfolio Solutions LLC grew its holdings in shares of MercadoLibre by 8.7% in the 4th quarter. Orion Portfolio Solutions LLC now owns 489 shares of the company’s stock valued at $770,000 after buying an additional 39 shares during the period. Focus Financial Network Inc. ADV acquired a new stake in MercadoLibre in the 4th quarter valued at $212,000. Scotia Capital Inc. bought a new stake in MercadoLibre during the 4th quarter worth about $226,000. Jones Financial Companies Lllp acquired a new position in shares of MercadoLibre during the 4th quarter worth about $225,000. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of MercadoLibre by 3.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 24,959 shares of the company’s stock valued at $39,228,000 after acquiring an additional 898 shares in 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.