Shares of MercadoLibre, Inc. (NASDAQ:MELI – Get Free Report) rose 0.2% on Wednesday after Citigroup raised their price target on the stock from $2,200.00 to $2,480.00. Citigroup currently has a buy rating on the stock. MercadoLibre traded as high as $2,075.24 and last traded at $2,072.33. Approximately 27,076 shares changed hands during trading, a decline of 92% from the average daily volume of 346,950 shares. The stock had previously closed at $2,067.82.
A number of other analysts have also weighed in on MELI. Redburn Atlantic assumed coverage on MercadoLibre in a research note on Friday, October 11th. They set a “buy” rating and a $2,800.00 price objective for the company. JPMorgan Chase & Co. cut shares of 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, October 2nd. Susquehanna raised their price target on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a report on Wednesday, August 28th. Barclays upped their price objective on shares of MercadoLibre from $2,100.00 to $2,500.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Finally, Raymond James initiated coverage on MercadoLibre in a research note on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 target price on the stock. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, MercadoLibre presently has a consensus rating of “Moderate Buy” and an average target price of $2,301.67.
View Our Latest Stock Analysis on MELI
Institutional Trading of MercadoLibre
MercadoLibre Trading Up 0.2 %
The stock has a market cap of $105.05 billion, a PE ratio of 92.72, a price-to-earnings-growth ratio of 1.25 and a beta of 1.61. The firm has a 50-day moving average price of $2,041.70 and a 200-day moving average price of $1,774.03. 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 – Get Free Report) last issued its earnings results on Thursday, August 1st. The company reported $10.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.53 by $1.95. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. The business had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $4.64 billion. During the same period in the previous year, the company earned $5.16 earnings per share. The business’s revenue for the quarter was up 41.5% compared to the same quarter last year. As a group, equities analysts anticipate that MercadoLibre, Inc. will post 37.55 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.
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