MercadoLibre (NASDAQ:MELI) Research Coverage Started at Raymond James

Raymond James assumed coverage on shares of MercadoLibre (NASDAQ:MELI) in a research report released on Friday morning, Marketbeat Ratings reports. The firm issued an outperform rating and a $2,350.00 price target on the stock.

A number of other equities research analysts also recently weighed in on MELI. Bank of America lifted their price objective on MercadoLibre from $2,250.00 to $2,500.00 and gave the company a buy rating in a report on Thursday, September 12th. Dbs Bank upgraded MercadoLibre from a hold rating to a strong-buy rating in a research report on Thursday, July 11th. Citigroup lifted their price objective on MercadoLibre from $2,000.00 to $2,200.00 and gave the company a buy rating in a report on Thursday, August 15th. BTIG Research upped their target price on shares of MercadoLibre from $2,025.00 to $2,250.00 and gave the stock a buy rating in a report on Wednesday, August 21st. Finally, The Goldman Sachs Group increased their target price 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. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, MercadoLibre presently has an average rating of Moderate Buy and an average price target of $2,217.50.

MercadoLibre Stock Performance

Shares of NASDAQ MELI opened at $2,064.71 on Friday. The firm has a market capitalization of $104.67 billion, a price-to-earnings ratio of 92.38, a PEG ratio of 1.34 and a beta of 1.61. MercadoLibre has a one year low of $1,141.04 and a one year high of $2,161.73. The business has a fifty day simple moving average of $1,941.21 and a 200 day simple moving average of $1,712.60. 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 data on Thursday, August 1st. The company reported $10.48 earnings per share (EPS) 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 during the quarter, compared to analysts’ expectations of $4.64 billion. During the same quarter in the prior year, the company posted $5.16 EPS. The business’s revenue was up 41.5% on a year-over-year basis. Sell-side analysts expect that MercadoLibre will post 35.79 EPS for the current year.

Hedge Funds Weigh In On MercadoLibre

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. First PREMIER Bank acquired a new stake in shares of MercadoLibre during the first quarter worth $27,000. Migdal Insurance & Financial Holdings Ltd. boosted its stake in 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. Scarborough Advisors LLC acquired a new position in MercadoLibre during the fourth quarter valued at approximately $36,000. Financial Connections Group Inc. acquired a new stake in MercadoLibre in the second quarter worth $36,000. Finally, Transcendent Capital Group LLC bought a new position in shares of MercadoLibre during the fourth quarter worth $38,000. 87.62% of the stock is owned by institutional investors.

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.